Edwards Lifesciences Co. Forecasted to Earn Q1 2024 Earnings of $0.65 Per Share (NYSE:EW)

Edwards Lifesciences Co. (NYSE:EW) – Analysts at Leerink Partnrs lowered their Q1 2024 earnings estimates for shares of Edwards Lifesciences in a note issued to investors on Wednesday, April 17th. Leerink Partnrs analyst M. Kratky now anticipates that the medical research company will post earnings per share of $0.65 for the quarter, down from their previous forecast of $0.66. The consensus estimate for Edwards Lifesciences’ current full-year earnings is $2.76 per share. Leerink Partnrs also issued estimates for Edwards Lifesciences’ Q2 2024 earnings at $0.71 EPS, FY2024 earnings at $2.75 EPS, FY2025 earnings at $3.11 EPS, FY2026 earnings at $3.52 EPS, FY2027 earnings at $3.94 EPS and FY2028 earnings at $4.28 EPS.

Edwards Lifesciences (NYSE:EW) last issued its quarterly earnings results on Tuesday, February 6th. The medical research company reported $0.64 earnings per share for the quarter, hitting the consensus estimate of $0.64. Edwards Lifesciences had a net margin of 23.35% and a return on equity of 23.56%. The company had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.50 billion. During the same period last year, the business earned $0.64 EPS. The business’s quarterly revenue was up 13.3% on a year-over-year basis.

EW has been the subject of a number of other research reports. OTR Global raised Edwards Lifesciences from a “mixed” rating to a “positive” rating in a report on Tuesday, March 26th. Truist Financial lifted their target price on Edwards Lifesciences from $78.00 to $84.00 and gave the stock a “buy” rating in a report on Friday, December 22nd. Citigroup lifted their target price on Edwards Lifesciences from $90.00 to $98.00 and gave the stock a “neutral” rating in a report on Wednesday, April 3rd. StockNews.com downgraded Edwards Lifesciences from a “buy” rating to a “hold” rating in a research note on Wednesday, March 20th. Finally, Royal Bank of Canada boosted their price target on Edwards Lifesciences from $95.00 to $101.00 and gave the company an “outperform” rating in a research note on Monday. One analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, Edwards Lifesciences has a consensus rating of “Moderate Buy” and a consensus price target of $91.73.

Edwards Lifesciences Price Performance

NYSE:EW opened at $86.45 on Friday. Edwards Lifesciences has a 1-year low of $60.57 and a 1-year high of $96.12. The company has a current ratio of 3.38, a quick ratio of 2.40 and a debt-to-equity ratio of 0.09. The firm has a fifty day simple moving average of $90.14 and a 200 day simple moving average of $78.19. The stock has a market capitalization of $52.04 billion, a PE ratio of 37.59, a P/E/G ratio of 4.32 and a beta of 1.05.

Insider Buying and Selling at Edwards Lifesciences

In other Edwards Lifesciences news, CFO Scott B. Ullem sold 7,255 shares of Edwards Lifesciences stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $94.89, for a total value of $688,426.95. Following the transaction, the chief financial officer now owns 19,074 shares in the company, valued at $1,809,931.86. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, VP Jean-Luc M. Lemercier sold 14,400 shares of the business’s stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $92.32, for a total transaction of $1,329,408.00. Following the sale, the vice president now directly owns 173,849 shares in the company, valued at $16,049,739.68. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Scott B. Ullem sold 7,255 shares of the business’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $94.89, for a total value of $688,426.95. Following the sale, the chief financial officer now owns 19,074 shares in the company, valued at $1,809,931.86. The disclosure for this sale can be found here. Insiders have sold a total of 194,004 shares of company stock worth $17,166,254 over the last 90 days. Insiders own 1.29% of the company’s stock.

Institutional Trading of Edwards Lifesciences

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Castleview Partners LLC bought a new stake in Edwards Lifesciences in the first quarter valued at approximately $25,000. DSM Capital Partners LLC bought a new stake in Edwards Lifesciences in the fourth quarter valued at approximately $28,000. Compass Wealth Management LLC bought a new stake in Edwards Lifesciences in the fourth quarter valued at approximately $31,000. Turtle Creek Wealth Advisors LLC acquired a new position in Edwards Lifesciences in the fourth quarter valued at approximately $34,000. Finally, Riverview Trust Co acquired a new position in Edwards Lifesciences in the first quarter valued at approximately $34,000. 79.46% of the stock is currently owned by institutional investors.

Edwards Lifesciences Company Profile

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.