Wall Street analysts expect Edwards Lifesciences Co. (NYSE: EW – Get Rating) to post sales of $1.31 billion for the current fiscal quarter, according to Zacks. Eleven analysts released earnings estimates for Edwards Lifesciences. The highest sales estimate is $1.34 billion and the lowest is $1.29 billion. Edwards Lifesciences reported sales of $1.22 billion in the same quarter last year, suggesting a positive year-over-year growth rate of 7.4%. The company is expected to release its next quarterly results after the market closes on Monday, January 1.
On average, analysts expect Edwards Lifesciences to report annual sales of $5.73 billion for the current year, with estimates ranging from $5.68 billion to $5.76 billion. . For next year, analysts expect the company to post sales of $6.37 billion, with estimates ranging from $6.30 billion to $6.52 billion. Zacks sales averages are an average based on a survey of analysts who follow Edwards Lifesciences.
Edwards Lifesciences (NYSE:EW – Get Rating) last released quarterly earnings data on Wednesday, January 26. The medical research company reported earnings per share of $0.51 for the quarter, missing the Zacks consensus estimate of $0.55 per ($0.04). The company posted revenue of $1.33 billion for the quarter, compared to analysts’ estimates of $1.34 billion. Edwards Lifesciences had a return on equity of 26.53% and a net margin of 28.73%. During the same period last year, the company posted EPS of $0.50.
Several equity research analysts have weighed in on the company. Truist Financial assumed coverage for Edwards Lifesciences in a report released Tuesday. They set a “buy” rating and a price target of $145.00 on the stock. UBS Group has upgraded Edwards Lifesciences shares from a ‘neutral’ rating to a ‘buy’ rating and raised its price target for the stock from $121.00 to $126.00 in a research report Wednesday, February 2. Morgan Stanley cut its price target on Edwards Lifesciences shares from $148.00 to $136.00 and set an “overweight” rating for the company in a Thursday, January 27 research report. Evercore ISI cut its price target on Edwards Lifesciences shares from $130.00 to $122.00 and set an “outperform” rating for the company in a Thursday, January 27 research report. Finally, Raymond James cut his price target on Edwards Lifesciences shares from $134.00 to $126.00 and set an “outperform” rating for the company in a Thursday, Jan. 27 research report. Five analysts gave the stock a hold rating and twenty gave the company a buy rating. Based on MarketBeat data, Edwards Lifesciences has an average rating of “Buy” and a consensus price target of $127.52.
Shares of Edwards Lifesciences were down $1.89 during Monday trading hours, hitting $120.02. The company’s shares had a trading volume of 2,361,310 shares, compared to its average volume of 2,534,540. Edwards Lifesciences has a 12-month low of $86.45 and a 12-month high of 131 $.73. The company has a fifty-day moving average of $112.40 and a 200-day moving average of $115.02. The stock has a market capitalization of $74.57 billion, a price/earnings ratio of 50.22, a P/E/G ratio of 3.36 and a beta of 1.15. The company has a debt ratio of 0.10, a quick ratio of 2.38 and a current ratio of 3.08.
In other news, Vice President Catherine M. Szyman sold 20,000 shares of the company in a transaction that took place on Monday, April 11. The stock was sold at an average price of $122.04, for a total value of $2,440,800.00. Following the completion of the transaction, the vice president now directly owns 27,569 shares of the company, valued at $3,364,520.76. The transaction was disclosed in a document filed with the SEC, accessible via this hyperlink. Additionally, CEO Michael A. Mussallem sold 32,550 shares of Edwards Lifesciences in a trade dated Tuesday, February 15. The shares were sold at an average price of $110.09, for a total value of $3,583,429.50. The disclosure of this sale can be found here. Insiders sold a total of 216,859 shares of the company worth $24,110,684 in the past three months. Insiders hold 1.29% of the company’s shares.
Several hedge funds and other institutional investors have recently changed their holdings to EW. Capital Research Global Investors increased its holdings of Edwards Lifesciences shares by 7.9% in the third quarter. Capital Research Global Investors now owns 6,398,861 shares of the medical research company valued at $724,418,000 after buying an additional 465,759 shares last quarter. EP Wealth Advisors LLC increased its stake in Edwards Lifesciences by 18.5% in the third quarter. EP Wealth Advisors LLC now owns 37,608 shares of the medical research company worth $4,258,000 after buying an additional 5,872 shares in the last quarter. Peapack Gladstone Financial Corp increased its stake in Edwards Lifesciences by 18.3% in the third quarter. Peapack Gladstone Financial Corp now owns 18,726 shares of the medical research company worth $2,120,000 after buying an additional 2,892 shares last quarter. Tredje AP fonden increased its stake in Edwards Lifesciences by 209.4% in the third quarter. Tredje AP fonden now owns 82,000 shares of the medical research company worth $9,283,000 after buying an additional 55,500 shares last quarter. Finally, Dixon Hubard Feinour & Brown Inc. VA increased its stake in Edwards Lifesciences by 36.7% in the fourth quarter. Dixon Hubard Feinour & Brown Inc. VA now owns 3,973 shares of the medical research company worth $515,000 after buying 1,067 additional shares in the last quarter. Hedge funds and other institutional investors hold 81.91% of the company’s shares.
About Edwards Lifesciences (Get an evaluation)
Edwards Lifesciences Corporation provides products and technologies for structural heart disease, critical care and surgical monitoring in the United States, Europe, Japan and around the world. It offers transcatheter heart valve replacement products for minimally invasive heart valve replacement; and catheter-based heart valve repair and replacement products to treat mitral and tricuspid valve disease.
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