Edwards Lifesciences Co. (NYSE:EW) Expected to Post Quarterly Sales of $1.40 Billion

Equities analysts expect that Edwards Lifesciences Co. (NYSE:EW – Get Rating) will report sales of $1.40 billion for the current fiscal quarter, Zacks reports. Ten analysts have made estimates for Edwards Lifesciences’ earnings, with the lowest sales estimate coming in at $1.38 billion and the highest estimate coming in at $1.42 billion. Edwards Lifesciences reported sales of $1.38 billion during the same quarter last year, which would suggest a positive year over year growth rate of 1.4%. The firm is scheduled to report its next earnings results on Monday, January 1st.

According to Zacks, analysts expect that Edwards Lifesciences will report full year sales of $5.72 billion for the current year, with estimates ranging from $5.66 billion to $5.77 billion. For the next fiscal year, analysts expect that the firm will report sales of $6.37 billion, with estimates ranging from $6.29 billion to $6.44 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that that provide coverage for Edwards Lifesciences.

Edwards Lifesciences (NYSE:EW – Get Rating) last announced its quarterly earnings data on Tuesday, April 26th. The medical research company reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.02. The business had revenue of $1.34 billion for the quarter, compared to analysts’ expectations of $1.31 billion. Edwards Lifesciences had a return on equity of 25.80% and a net margin of 28.72%. The firm’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.54 EPS.

EW has been the topic of a number of analyst reports. Truist Financial initiated coverage on Edwards Lifesciences in a research report on Tuesday, April 12th. They set a “buy” rating and a $145.00 price objective on the stock. Zacks Investment Research raised Edwards Lifesciences from a “sell” rating to a “hold” rating and set a $115.00 target price on the stock in a research report on Friday, April 29th. StockNews.com cut Edwards Lifesciences from a “buy” rating to a “hold” rating in a report on Thursday, May 5th. UBS Group upgraded Edwards Lifesciences from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $121.00 to $126.00 in a report on Wednesday, February 2nd. Finally, William Blair reiterated an “outperform” rating on shares of Edwards Lifesciences in a report on Tuesday, April 26th. Five investment analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $128.26.

In other Edwards Lifesciences news, CEO Michael A. Mussallem sold 32,550 shares of the firm’s stock in a transaction on Tuesday, March 22nd. The stock was sold at an average price of $112.36, for a total transaction of $3,657,318.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Huimin Wang sold 3,675 shares of the firm’s stock in a transaction on Tuesday, March 8th. The stock was sold at an average price of $107.60, for a total value of $395,430.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 235,840 shares of company stock valued at $25,404,659. Insiders own 1.29% of the company’s stock.

Large investors have recently added to or reduced their stakes in the stock. Lindbrook Capital LLC boosted its stake in shares of Edwards Lifesciences by 14.6% during the 1st quarter. Lindbrook Capital LLC now owns 738 shares of the medical research company’s stock worth $87,000 after acquiring an additional 94 shares in the last quarter. Hoylecohen LLC boosted its stake in shares of Edwards Lifesciences by 1.0% during the 1st quarter. Hoylecohen LLC now owns 9,923 shares of the medical research company’s stock worth $1,168,000 after acquiring an additional 100 shares in the last quarter. Midwest Professional Planners LTD. boosted its stake in Edwards Lifesciences by 0.5% during the 4th quarter. Midwest Professional Planners LTD. now owns 21,563 shares of the medical research company’s stock valued at $2,793,000 after purchasing an additional 105 shares during the period. McIlrath & Eck LLC boosted its stake in Edwards Lifesciences by 7.2% during the 4th quarter. McIlrath & Eck LLC now owns 1,584 shares of the medical research company’s stock valued at $205,000 after purchasing an additional 106 shares during the period. Finally, Pinnacle Bancorp Inc. boosted its stake in Edwards Lifesciences by 18.6% during the 1st quarter. Pinnacle Bancorp Inc. now owns 701 shares of the medical research company’s stock valued at $83,000 after purchasing an additional 110 shares during the period. Hedge funds and other institutional investors own 82.54% of the company’s stock.

EW traded up $2.55 during trading on Monday, reaching $101.12. The stock had a trading volume of 2,445,373 shares, compared to its average volume of 2,787,090. The stock’s 50 day moving average is $109.85 and its two-hundred day moving average is $113.06. The company has a current ratio of 3.41, a quick ratio of 2.64 and a debt-to-equity ratio of 0.10. The company has a market capitalization of $62.87 billion, a price-to-earnings ratio of 41.44, a P/E/G ratio of 2.85 and a beta of 1.16. Edwards Lifesciences has a one year low of $91.52 and a one year high of $131.73.

About Edwards Lifesciences (Get Rating)

Edwards Lifesciences Corporation provides products and technologies for structural heart disease, and critical care and surgical monitoring in the United States, Europe, Japan, and internationally. It offers transcatheter heart valve replacement products for the minimally invasive replacement of heart valves; and transcatheter heart valve repair and replacement products to treat mitral and tricuspid valve diseases.

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