Zacks Research Has Positive Forecast for EW FY2024 Earnings

Edwards Lifesciences Co. (NYSE:EW) – Equities researchers at Zacks Research lifted their FY2024 earnings per share estimates for shares of Edwards Lifesciences in a research note issued to investors on Tuesday, January 7th. Zacks Research analyst R. Department now anticipates that the medical research company will post earnings per share of $2.58 for the year, up from their previous estimate of $2.57. The consensus estimate for Edwards Lifesciences’ current full-year earnings is $2.56 per share. Zacks Research also issued estimates for Edwards Lifesciences’ Q4 2024 earnings at $0.55 EPS, Q2 2026 earnings at $0.67 EPS, Q3 2026 earnings at $0.71 EPS, Q4 2026 earnings at $0.72 EPS and FY2026 earnings at $2.76 EPS.

Other equities research analysts have also issued research reports about the stock. Bank of America raised shares of Edwards Lifesciences from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $82.00 to $90.00 in a research report on Monday, December 16th. Canaccord Genuity Group increased their price target on Edwards Lifesciences from $63.00 to $68.00 and gave the company a “hold” rating in a report on Thursday, December 5th. The Goldman Sachs Group boosted their price objective on Edwards Lifesciences from $81.00 to $90.00 and gave the stock a “buy” rating in a research note on Thursday, December 5th. Citigroup increased their target price on Edwards Lifesciences from $81.00 to $83.00 and gave the company a “buy” rating in a research note on Wednesday, December 11th. Finally, Piper Sandler reduced their price target on Edwards Lifesciences from $73.00 to $70.00 and set a “neutral” rating on the stock in a research report on Friday, October 25th. Sixteen analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $79.40.

Edwards Lifesciences Stock Down 1.0 %

EW opened at $73.41 on Friday. The company has a market cap of $43.30 billion, a PE ratio of 10.59, a price-to-earnings-growth ratio of 3.61 and a beta of 1.12. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.89 and a current ratio of 3.46. Edwards Lifesciences has a 1 year low of $58.93 and a 1 year high of $96.12. The firm has a 50 day moving average price of $71.64 and a 200 day moving average price of $72.19.

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, hitting the consensus estimate of $0.67. The company had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.57 billion. Edwards Lifesciences had a return on equity of 20.76% and a net margin of 70.82%. The firm’s revenue was up 8.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.59 earnings per share.

Insiders Place Their Bets

In related news, VP Donald E. Bobo, Jr. sold 5,000 shares of the stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $69.51, for a total transaction of $347,550.00. Following the sale, the vice president now owns 46,936 shares in the company, valued at $3,262,521.36. This represents a 9.63 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Daniel J. Lippis sold 2,500 shares of Edwards Lifesciences stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $74.08, for a total value of $185,200.00. Following the completion of the transaction, the vice president now owns 23,189 shares of the company’s stock, valued at approximately $1,717,841.12. The trade was a 9.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 37,500 shares of company stock valued at $2,508,350 in the last quarter. Insiders own 1.29% of the company’s stock.

Institutional Trading of Edwards Lifesciences

A number of institutional investors and hedge funds have recently made changes to their positions in EW. Nordea Investment Management AB grew its stake in Edwards Lifesciences by 34.6% during the 4th quarter. Nordea Investment Management AB now owns 4,057,013 shares of the medical research company’s stock worth $301,355,000 after buying an additional 1,043,484 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Edwards Lifesciences by 9.2% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 478,418 shares of the medical research company’s stock valued at $31,571,000 after acquiring an additional 40,348 shares during the period. AIA Group Ltd grew its position in shares of Edwards Lifesciences by 91.7% during the third quarter. AIA Group Ltd now owns 749,524 shares of the medical research company’s stock worth $49,461,000 after acquiring an additional 358,556 shares during the last quarter. RiverPark Advisors LLC increased its holdings in shares of Edwards Lifesciences by 58.1% in the 3rd quarter. RiverPark Advisors LLC now owns 20,639 shares of the medical research company’s stock worth $1,362,000 after acquiring an additional 7,583 shares during the period. Finally, Banque Cantonale Vaudoise lifted its position in Edwards Lifesciences by 46.9% in the 3rd quarter. Banque Cantonale Vaudoise now owns 81,111 shares of the medical research company’s stock valued at $5,353,000 after purchasing an additional 25,886 shares during the last quarter. 79.46% of the stock is currently owned by institutional investors and hedge funds.

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.