Analysts Issue Forecasts for EW FY2024 Earnings

Edwards Lifesciences Co. (NYSE:EW) – Research analysts at William Blair issued their FY2024 earnings estimates for shares of Edwards Lifesciences in a note issued to investors on Tuesday, October 29th. William Blair analyst M. Kaczor expects that the medical research company will post earnings per share of $2.58 for the year. The consensus estimate for Edwards Lifesciences’ current full-year earnings is $2.61 per share. William Blair also issued estimates for Edwards Lifesciences’ Q4 2024 earnings at $0.56 EPS.

Edwards Lifesciences (NYSE:EW) last announced its quarterly earnings results on Thursday, October 24th. The medical research company reported $0.67 EPS for the quarter, meeting analysts’ consensus estimates of $0.67. Edwards Lifesciences had a net margin of 24.55% and a return on equity of 22.35%. The firm had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.57 billion. During the same quarter last year, the firm earned $0.59 EPS. The firm’s revenue for the quarter was up 8.9% compared to the same quarter last year.

EW has been the topic of a number of other reports. Daiwa Capital Markets raised shares of Edwards Lifesciences from a “neutral” rating to an “outperform” rating in a research report on Wednesday, July 31st. TD Cowen lowered shares of Edwards Lifesciences from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $100.00 to $70.00 in a research report on Thursday, July 25th. Citigroup reduced their price objective on shares of Edwards Lifesciences from $83.00 to $77.00 and set a “buy” rating on the stock in a research report on Tuesday, October 1st. The Goldman Sachs Group reduced their price objective on shares of Edwards Lifesciences from $107.00 to $91.00 and set a “buy” rating on the stock in a research report on Friday, July 26th. Finally, Barclays reduced their price objective on shares of Edwards Lifesciences from $90.00 to $80.00 and set an “overweight” rating on the stock in a research report on Monday, September 9th. Sixteen equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $75.67.

Edwards Lifesciences Stock Down 2.3 %

Shares of NYSE:EW opened at $67.02 on Thursday. The company has a current ratio of 3.71, a quick ratio of 2.87 and a debt-to-equity ratio of 0.08. Edwards Lifesciences has a 12 month low of $58.93 and a 12 month high of $96.12. The company has a 50-day moving average price of $67.98 and a 200 day moving average price of $77.85. The company has a market cap of $40.39 billion, a price-to-earnings ratio of 28.89, a PEG ratio of 3.00 and a beta of 1.13.

Institutional Investors Weigh In On Edwards Lifesciences

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Park Avenue Securities LLC lifted its stake in shares of Edwards Lifesciences by 0.5% during the second quarter. Park Avenue Securities LLC now owns 23,484 shares of the medical research company’s stock worth $2,169,000 after buying an additional 108 shares during the period. City State Bank raised its holdings in shares of Edwards Lifesciences by 16.5% during the second quarter. City State Bank now owns 917 shares of the medical research company’s stock worth $85,000 after purchasing an additional 130 shares during the last quarter. Valley National Advisers Inc. raised its holdings in shares of Edwards Lifesciences by 6.0% during the first quarter. Valley National Advisers Inc. now owns 2,677 shares of the medical research company’s stock worth $255,000 after purchasing an additional 152 shares during the last quarter. Choreo LLC raised its holdings in shares of Edwards Lifesciences by 4.1% during the first quarter. Choreo LLC now owns 3,840 shares of the medical research company’s stock worth $367,000 after purchasing an additional 153 shares during the last quarter. Finally, Stableford Capital II LLC raised its holdings in shares of Edwards Lifesciences by 2.7% during the second quarter. Stableford Capital II LLC now owns 6,104 shares of the medical research company’s stock worth $533,000 after purchasing an additional 159 shares during the last quarter. 79.46% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Edwards Lifesciences

In related news, VP Daveen Chopra sold 1,250 shares of Edwards Lifesciences stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $69.95, for a total transaction of $87,437.50. Following the transaction, the vice president now directly owns 29,333 shares of the company’s stock, valued at $2,051,843.35. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. In other Edwards Lifesciences news, VP Donald E. Bobo, Jr. sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $66.08, for a total value of $330,400.00. Following the completion of the sale, the vice president now directly owns 46,936 shares in the company, valued at $3,101,530.88. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Daveen Chopra sold 1,250 shares of the firm’s stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $69.95, for a total transaction of $87,437.50. Following the completion of the sale, the vice president now owns 29,333 shares of the company’s stock, valued at approximately $2,051,843.35. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 16,250 shares of company stock valued at $1,099,238 over the last ninety days. 1.29% of the stock is owned by company insiders.

About Edwards Lifesciences

Edwards Lifesciences Corporation provides products and technologies for structural heart disease and critical care monitoring in the United States, Europe, Japan, and internationally. It offers transcatheter heart valve replacement products for the minimally invasive replacement of aortic heart valves under the Edwards SAPIEN family of valves system; and transcatheter heart valve repair and replacement products to treat mitral and tricuspid valve diseases under the PASCAL PRECISION and Cardioband names.