Edwards Lifesciences (NYSE:EW) Releases Quarterly Earnings Results, Meets Expectations

Edwards Lifesciences (NYSE:EW) announced its earnings results on Thursday. The medical research company reported $0.67 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.67, Briefing.com reports. The firm had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.57 billion. Edwards Lifesciences had a return on equity of 22.35% and a net margin of 24.55%. The company’s revenue was up 8.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.59 earnings per share.

Edwards Lifesciences Price Performance

EW stock traded down $1.28 during midday trading on Friday, hitting $69.07. 6,192,231 shares of the stock were exchanged, compared to its average volume of 4,585,654. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.87 and a current ratio of 3.71. The stock’s 50-day moving average price is $68.08 and its 200-day moving average price is $78.65. Edwards Lifesciences has a fifty-two week low of $58.93 and a fifty-two week high of $96.12. The stock has a market cap of $41.62 billion, a price-to-earnings ratio of 29.92, a PEG ratio of 2.83 and a beta of 1.13.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on EW shares. Daiwa America raised Edwards Lifesciences to a “strong-buy” rating in a research note on Wednesday, July 31st. JPMorgan Chase & Co. upped their price objective on shares of Edwards Lifesciences from $72.00 to $78.00 and gave the stock a “neutral” rating in a research report on Friday. UBS Group lowered their target price on Edwards Lifesciences from $90.00 to $75.00 and set a “neutral” rating for the company in a report on Tuesday, September 10th. Robert W. Baird decreased their price target on Edwards Lifesciences from $73.00 to $68.00 and set a “neutral” rating for the company in a report on Friday. Finally, Piper Sandler reduced their target price on Edwards Lifesciences from $73.00 to $70.00 and set a “neutral” rating for the company in a research note on Friday. Fifteen investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $75.67.

Insider Buying and Selling

In other Edwards Lifesciences news, VP Donald E. Bobo, Jr. sold 5,000 shares of the business’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $66.08, for a total transaction of $330,400.00. Following the sale, the vice president now directly owns 46,936 shares of the company’s stock, valued at $3,101,530.88. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, VP Donald E. Bobo, Jr. sold 5,000 shares of the stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $66.08, for a total transaction of $330,400.00. Following the completion of the sale, the vice president now owns 46,936 shares of the company’s stock, valued at $3,101,530.88. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Daveen Chopra sold 1,250 shares of the firm’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $69.95, for a total transaction of $87,437.50. Following the completion of the sale, the vice president now owns 29,333 shares of the company’s stock, valued at $2,051,843.35. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 16,250 shares of company stock valued at $1,099,238. 1.29% of the stock is currently owned by company insiders.

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.