Edwards Lifesciences Corp (NYSE:EW) Expected to Post Quarterly Sales of $769.06 Million

Wall Street brokerages expect Edwards Lifesciences Corp (NYSE:EW) to post $769.06 million in sales for the current fiscal quarter, Zacks reports. Nine analysts have provided estimates for Edwards Lifesciences’ earnings, with the highest sales estimate coming in at $797.03 million and the lowest estimate coming in at $700.20 million. Edwards Lifesciences reported sales of $1.09 billion in the same quarter last year, which indicates a negative year-over-year growth rate of 29.4%. The business is expected to report its next quarterly earnings report on Tuesday, July 28th.

According to Zacks, analysts expect that Edwards Lifesciences will report full-year sales of $4.25 billion for the current year, with estimates ranging from $4.05 billion to $4.47 billion. For the next fiscal year, analysts anticipate that the business will report sales of $5.07 billion, with estimates ranging from $4.71 billion to $5.30 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that follow Edwards Lifesciences.

Edwards Lifesciences (NYSE:EW) last posted its quarterly earnings data on Thursday, April 23rd. The medical research company reported $0.50 EPS for the quarter, beating the Zacks’ consensus estimate of $0.43 by $0.07. Edwards Lifesciences had a net margin of 24.71% and a return on equity of 31.83%. The firm had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.03 billion. During the same period in the prior year, the firm posted $0.44 EPS. The firm’s revenue was up 13.7% compared to the same quarter last year.

A number of research analysts have commented on EW shares. Raymond James increased their price objective on shares of Edwards Lifesciences from $76.67 to $83.33 and gave the company an “outperform” rating in a research note on Friday, April 24th. Morgan Stanley reduced their price objective on shares of Edwards Lifesciences from $83.33 to $83.00 and set an “overweight” rating on the stock in a research note on Monday. SVB Leerink downgraded shares of Edwards Lifesciences from an “outperform” rating to a “market perform” rating in a research note on Sunday, April 19th. Citigroup increased their target price on shares of Edwards Lifesciences from $80.00 to $85.00 and gave the stock a “buy” rating in a report on Friday, April 24th. Finally, Piper Sandler dropped their target price on shares of Edwards Lifesciences from $90.00 to $88.33 and set an “overweight” rating on the stock in a report on Friday, April 24th. One analyst has rated the stock with a sell rating, eight have given a hold rating and sixteen have assigned a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $82.52.

In other Edwards Lifesciences news, VP Jean-Luc M. Lemercier sold 3,470 shares of the firm’s stock in a transaction dated Monday, April 27th. The shares were sold at an average price of $223.50, for a total transaction of $775,545.00. Following the transaction, the vice president now owns 45,401 shares of the company’s stock, valued at approximately $10,147,123.50. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Catherine M. Szyman sold 2,249 shares of the firm’s stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $68.06, for a total transaction of $153,066.94. Following the transaction, the vice president now directly owns 34,564 shares in the company, valued at approximately $2,352,425.84. The disclosure for this sale can be found here. In the last three months, insiders have sold 194,323 shares of company stock worth $25,124,106. 1.48% of the stock is owned by corporate insiders.

Several large investors have recently bought and sold shares of the company. State Street Corp boosted its position in shares of Edwards Lifesciences by 0.9% during the 1st quarter. State Street Corp now owns 8,998,907 shares of the medical research company’s stock valued at $1,697,374,000 after purchasing an additional 81,976 shares in the last quarter. Royal Bank of Canada boosted its position in shares of Edwards Lifesciences by 12.2% during the 1st quarter. Royal Bank of Canada now owns 1,660,802 shares of the medical research company’s stock valued at $313,261,000 after purchasing an additional 180,744 shares in the last quarter. Cunning Capital Partners LP bought a new position in shares of Edwards Lifesciences during the 1st quarter valued at about $5,281,000. New England Research & Management Inc. bought a new position in shares of Edwards Lifesciences during the 1st quarter valued at about $238,000. Finally, Guggenheim Capital LLC boosted its position in shares of Edwards Lifesciences by 50.8% during the 1st quarter. Guggenheim Capital LLC now owns 54,140 shares of the medical research company’s stock valued at $10,212,000 after purchasing an additional 18,246 shares in the last quarter. Institutional investors own 80.66% of the company’s stock.

NYSE EW traded up $0.36 during trading hours on Friday, reaching $68.25. 34,110 shares of the company traded hands, compared to its average volume of 3,371,622. Edwards Lifesciences has a 12 month low of $51.51 and a 12 month high of $82.55. The company has a current ratio of 3.36, a quick ratio of 2.47 and a debt-to-equity ratio of 0.17. The stock has a market capitalization of $41.60 billion, a PE ratio of 38.94, a PEG ratio of 2.53 and a beta of 0.84. The company has a 50 day moving average of $109.88 and a two-hundred day moving average of $82.02.

Edwards Lifesciences Company Profile

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.

Featured Story: Insider Trading

Get a free copy of the Zacks research report on Edwards Lifesciences (EW)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Ratings for Edwards Lifesciences Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Edwards Lifesciences and related companies with MarketBeat.com's FREE daily email newsletter.