Edwards Lifesciences Corp (NYSE:EW) Expected to Post Quarterly Sales of $1.15 Billion

Wall Street analysts forecast that Edwards Lifesciences Corp (NYSE:EW) will report sales of $1.15 billion for the current fiscal quarter, Zacks reports. Eight analysts have made estimates for Edwards Lifesciences’ earnings. The lowest sales estimate is $1.14 billion and the highest is $1.17 billion. Edwards Lifesciences posted sales of $977.70 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 17.6%. The firm is expected to report its next quarterly earnings results on Thursday, January 30th.

On average, analysts expect that Edwards Lifesciences will report full year sales of $4.33 billion for the current year, with estimates ranging from $4.31 billion to $4.35 billion. For the next fiscal year, analysts forecast that the business will post sales of $4.75 billion, with estimates ranging from $4.59 billion to $4.83 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow Edwards Lifesciences.

Edwards Lifesciences (NYSE:EW) last released its earnings results on Wednesday, October 23rd. The medical research company reported $1.41 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.22 by $0.19. The firm had revenue of $1.09 billion during the quarter, compared to analysts’ expectations of $1.04 billion. Edwards Lifesciences had a return on equity of 32.28% and a net margin of 18.64%. The company’s revenue was up 20.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.07 EPS.

A number of research firms have issued reports on EW. Morgan Stanley increased their target price on Edwards Lifesciences from $228.00 to $248.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. Credit Suisse Group increased their target price on Edwards Lifesciences from $226.00 to $261.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Wells Fargo & Co increased their target price on Edwards Lifesciences from $250.00 to $262.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. BTIG Research reiterated a “hold” rating on shares of Edwards Lifesciences in a report on Thursday, July 25th. Finally, JPMorgan Chase & Co. increased their target price on Edwards Lifesciences from $190.00 to $225.00 and gave the stock a “neutral” rating in a report on Wednesday, July 24th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and thirteen have assigned a buy rating to the company. Edwards Lifesciences has an average rating of “Buy” and an average price target of $237.89.

In other news, VP Larry L. Wood sold 6,716 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $219.91, for a total transaction of $1,476,915.56. Following the completion of the transaction, the vice president now directly owns 124,145 shares in the company, valued at approximately $27,300,726.95. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, VP Catherine M. Szyman sold 2,500 shares of the stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $242.14, for a total transaction of $605,350.00. Following the transaction, the vice president now owns 19,605 shares of the company’s stock, valued at $4,747,154.70. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 155,731 shares of company stock valued at $35,088,724. Company insiders own 1.63% of the company’s stock.

A number of large investors have recently modified their holdings of EW. TRUE Private Wealth Advisors acquired a new stake in Edwards Lifesciences in the 2nd quarter valued at about $26,000. Quest Capital Management Inc. ADV acquired a new stake in Edwards Lifesciences in the 3rd quarter valued at about $28,000. Evolution Wealth Advisors LLC acquired a new stake in Edwards Lifesciences in the 2nd quarter valued at about $29,000. M&R Capital Management Inc. acquired a new stake in Edwards Lifesciences in the 2nd quarter valued at about $29,000. Finally, Next Capital Management LLC lifted its stake in Edwards Lifesciences by 297.7% in the 2nd quarter. Next Capital Management LLC now owns 171 shares of the medical research company’s stock valued at $32,000 after purchasing an additional 128 shares during the last quarter. Institutional investors and hedge funds own 80.53% of the company’s stock.

EW stock traded up $5.08 during trading hours on Tuesday, reaching $245.64. 1,332,089 shares of the stock were exchanged, compared to its average volume of 1,233,417. The firm’s 50-day moving average is $229.22 and its 200-day moving average is $205.16. The company has a market cap of $50.80 billion, a price-to-earnings ratio of 52.26, a PEG ratio of 2.90 and a beta of 0.82. The company has a debt-to-equity ratio of 0.17, a current ratio of 3.53 and a quick ratio of 2.74. Edwards Lifesciences has a 12 month low of $139.64 and a 12 month high of $245.95.

About Edwards Lifesciences

Edwards Lifesciences Corporation provides products and technologies for structural heart disease and critical care monitoring in the United States and internationally. It offers transcatheter heart valve therapy products comprising transcatheter aortic valve replacement, and transcatheter mitral and tricuspid therapies for the nonsurgical replacement of heart valves.

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Earnings History and Estimates for Edwards Lifesciences (NYSE:EW)

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