Leerink Partnrs Has Positive Outlook for EW FY2024 Earnings

Edwards Lifesciences Co. (NYSE:EW) – Equities researchers at Leerink Partnrs increased their FY2024 earnings per share (EPS) estimates for Edwards Lifesciences in a report released on Monday, November 25th. Leerink Partnrs analyst M. Kratky now anticipates that the medical research company will earn $2.58 per share for the year, up from their previous estimate of $2.57. The consensus estimate for Edwards Lifesciences’ current full-year earnings is $2.57 per share. Leerink Partnrs also issued estimates for Edwards Lifesciences’ Q1 2025 earnings at $0.57 EPS, Q2 2025 earnings at $0.61 EPS, Q3 2025 earnings at $0.62 EPS, Q4 2025 earnings at $0.66 EPS, FY2025 earnings at $2.46 EPS and FY2027 earnings at $3.33 EPS.

Other research analysts also recently issued reports about the company. Robert W. Baird lowered their target price on Edwards Lifesciences from $73.00 to $68.00 and set a “neutral” rating on the stock in a research note on Friday, October 25th. Piper Sandler lowered their price objective on shares of Edwards Lifesciences from $73.00 to $70.00 and set a “neutral” rating on the stock in a research report on Friday, October 25th. Morgan Stanley restated an “equal weight” rating and set a $70.00 price objective on shares of Edwards Lifesciences in a research report on Friday, October 11th. Wells Fargo & Company lowered their target price on shares of Edwards Lifesciences from $90.00 to $80.00 and set an “overweight” rating on the stock in a report on Monday, September 9th. Finally, Oppenheimer restated an “outperform” rating and issued a $90.00 price objective on shares of Edwards Lifesciences in a research report on Thursday, September 12th. Seventeen equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, Edwards Lifesciences presently has a consensus rating of “Hold” and an average target price of $75.67.

Edwards Lifesciences Stock Performance

NYSE EW opened at $71.56 on Wednesday. The firm has a market cap of $42.20 billion, a P/E ratio of 10.33, a P/E/G ratio of 3.96 and a beta of 1.12. Edwards Lifesciences has a 52-week low of $58.93 and a 52-week high of $96.12. The business’s 50-day moving average price is $67.83 and its 200 day moving average price is $75.37. The company has a quick ratio of 2.89, a current ratio of 3.46 and a debt-to-equity ratio of 0.06.

Edwards Lifesciences (NYSE:EW) last issued its quarterly earnings results on Thursday, October 24th. The medical research company reported $0.67 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.67. The firm had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.57 billion. Edwards Lifesciences had a net margin of 70.82% and a return on equity of 20.76%. Edwards Lifesciences’s quarterly revenue was up 8.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.59 EPS.

Insider Activity

In other news, insider Larry L. Wood sold 25,000 shares of the stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $65.91, for a total value of $1,647,750.00. Following the completion of the transaction, the insider now owns 198,526 shares of the company’s stock, valued at approximately $13,084,848.66. This represents a 11.18 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Donald E. Bobo, Jr. sold 5,000 shares of Edwards Lifesciences stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $66.77, for a total transaction of $333,850.00. Following the sale, the vice president now owns 46,936 shares in the company, valued at approximately $3,133,916.72. This represents a 9.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 40,000 shares of company stock valued at $2,657,000. 1.29% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Edwards Lifesciences

Large investors have recently bought and sold shares of the stock. Cetera Advisors LLC boosted its holdings in shares of Edwards Lifesciences by 175.1% in the first quarter. Cetera Advisors LLC now owns 38,090 shares of the medical research company’s stock valued at $3,640,000 after acquiring an additional 24,242 shares in the last quarter. BDF Gestion acquired a new stake in shares of Edwards Lifesciences in the second quarter valued at $5,148,000. Tidal Investments LLC boosted its stake in Edwards Lifesciences by 54.7% during the first quarter. Tidal Investments LLC now owns 30,245 shares of the medical research company’s stock valued at $2,890,000 after buying an additional 10,700 shares in the last quarter. Raymond James & Associates grew its holdings in Edwards Lifesciences by 2.8% during the second quarter. Raymond James & Associates now owns 1,825,230 shares of the medical research company’s stock worth $168,597,000 after acquiring an additional 50,124 shares during the period. Finally, AIA Group Ltd raised its position in Edwards Lifesciences by 91.7% in the third quarter. AIA Group Ltd now owns 749,524 shares of the medical research company’s stock worth $49,461,000 after acquiring an additional 358,556 shares in the last quarter. Institutional investors and hedge funds own 79.46% of the company’s stock.

About Edwards Lifesciences

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.