Edwards Lifesciences Co. (NYSE:EW) to Post Q1 2024 Earnings of $0.65 Per Share, Leerink Partnrs Forecasts

Edwards Lifesciences Co. (NYSE:EW) – Stock analysts at Leerink Partnrs reduced their Q1 2024 EPS estimates for shares of Edwards Lifesciences in a research note issued on Wednesday, April 17th. Leerink Partnrs analyst M. Kratky now expects that the medical research company will earn $0.65 per share 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.

A number of other brokerages have also commented on EW. Stifel Nicolaus lifted their price objective on Edwards Lifesciences from $70.00 to $83.00 and gave the stock a “hold” rating in a research report on Wednesday, February 7th. Bank of America upgraded shares of Edwards Lifesciences from a “neutral” rating to a “buy” rating in a report on Thursday, March 7th. Evercore ISI lifted their target price on shares of Edwards Lifesciences from $86.00 to $92.00 and gave the stock an “in-line” rating in a report on Thursday, April 4th. Citigroup upped their target price on shares of Edwards Lifesciences from $90.00 to $98.00 and gave the company a “neutral” rating in a research report on Wednesday, April 3rd. Finally, OTR Global upgraded Edwards Lifesciences from a “mixed” rating to a “positive” rating in a research report on Tuesday, March 26th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $91.73.

Edwards Lifesciences Trading Down 0.6 %

EW stock opened at $85.94 on Friday. The company has a quick ratio of 2.40, a current ratio of 3.38 and a debt-to-equity ratio of 0.09. Edwards Lifesciences has a twelve month low of $60.57 and a twelve month high of $96.12. The company has a market cap of $51.73 billion, a P/E ratio of 37.37, a PEG ratio of 4.32 and a beta of 1.05. The business has a fifty day moving average of $90.15 and a 200-day moving average of $78.31.

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

Insider Buying and Selling

In related news, VP Jean-Luc M. Lemercier sold 14,400 shares of the business’s stock in a transaction on Monday, April 8th. The shares were sold at an average price of $92.32, for a total value of $1,329,408.00. Following the sale, the vice president now directly owns 173,849 shares of the company’s stock, valued at approximately $16,049,739.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Edwards Lifesciences news, Director Michael A. Mussallem sold 29,350 shares of the company’s stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $92.42, for a total transaction of $2,712,527.00. Following the completion of the transaction, the director now owns 4,486 shares of the company’s stock, valued at approximately $414,596.12. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Jean-Luc M. Lemercier sold 14,400 shares of Edwards Lifesciences stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $92.32, for a total transaction of $1,329,408.00. Following the completion of the sale, the vice president now owns 173,849 shares in the company, valued at $16,049,739.68. The disclosure for this sale can be found here. In the last three months, insiders sold 194,004 shares of company stock valued at $17,166,254. 1.29% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Nordea Investment Management AB increased its stake in shares of Edwards Lifesciences by 1,224.1% during the 4th quarter. Nordea Investment Management AB now owns 1,610,412 shares of the medical research company’s stock worth $123,261,000 after purchasing an additional 1,488,791 shares during the last quarter. Telos Capital Management Inc. raised its stake in Edwards Lifesciences by 158.2% in the fourth quarter. Telos Capital Management Inc. now owns 91,405 shares of the medical research company’s stock valued at $6,970,000 after buying an additional 56,000 shares during the period. Arlington Trust Co LLC lifted its position in shares of Edwards Lifesciences by 5,092.4% in the fourth quarter. Arlington Trust Co LLC now owns 12,306 shares of the medical research company’s stock valued at $938,000 after buying an additional 12,069 shares during the last quarter. Versor Investments LP boosted its stake in shares of Edwards Lifesciences by 83.3% during the 3rd quarter. Versor Investments LP now owns 4,496 shares of the medical research company’s stock worth $311,000 after acquiring an additional 2,043 shares during the period. Finally, HealthInvest Partners AB acquired a new position in shares of Edwards Lifesciences during the 4th quarter worth approximately $1,587,000. 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.