Equities Analysts Issue Forecasts for Edwards Lifesciences Co.’s Q3 2024 Earnings (NYSE:EW)

Edwards Lifesciences Co. (NYSE:EW) – Research analysts at Leerink Partnrs raised their Q3 2024 EPS estimates for shares of Edwards Lifesciences in a research report issued to clients and investors on Friday, April 26th. Leerink Partnrs analyst M. Kratky now expects that the medical research company will earn $0.71 per share for the quarter, up from their previous estimate of $0.70. The consensus estimate for Edwards Lifesciences’ current full-year earnings is $2.76 per share. Leerink Partnrs also issued estimates for Edwards Lifesciences’ Q4 2024 earnings at $0.71 EPS and Q1 2025 earnings at $0.72 EPS.

Edwards Lifesciences (NYSE:EW) last announced its quarterly earnings data on Thursday, April 25th. The medical research company reported $0.66 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.02. The company had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.58 billion. Edwards Lifesciences had a net margin of 23.01% and a return on equity of 22.86%.

Several other research analysts also recently commented on EW. Evercore ISI reduced their price objective on Edwards Lifesciences from $92.00 to $89.00 and set an “in-line” rating on the stock in a report on Friday, April 26th. Oppenheimer upped their price objective on shares of Edwards Lifesciences from $93.00 to $100.00 and gave the stock an “outperform” rating in a research note on Monday, March 18th. Wells Fargo & Company increased their target price on shares of Edwards Lifesciences from $94.00 to $99.00 and gave the stock an “overweight” rating in a report on Friday, April 26th. OTR Global upgraded shares of Edwards Lifesciences from a “mixed” rating to a “positive” rating in a report on Tuesday, March 26th. Finally, Citigroup boosted their price objective on shares of Edwards Lifesciences from $90.00 to $98.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 3rd. One analyst has rated the stock with a sell rating, six have given a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $92.71.

Edwards Lifesciences Stock Performance

Edwards Lifesciences stock opened at $84.68 on Monday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.67 and a current ratio of 3.75. The company has a market capitalization of $50.97 billion, a PE ratio of 36.50, a P/E/G ratio of 4.28 and a beta of 1.05. The company has a 50 day moving average price of $90.23 and a 200-day moving average price of $79.16. Edwards Lifesciences has a fifty-two week low of $60.57 and a fifty-two week high of $96.12.

Hedge Funds Weigh In On Edwards Lifesciences

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Livforsakringsbolaget Skandia Omsesidigt lifted its holdings in Edwards Lifesciences by 63.9% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 7,440 shares of the medical research company’s stock valued at $515,000 after purchasing an additional 2,900 shares in the last quarter. Sumitomo Life Insurance Co. boosted its position in Edwards Lifesciences by 3.4% during the third quarter. Sumitomo Life Insurance Co. now owns 25,516 shares of the medical research company’s stock worth $1,768,000 after acquiring an additional 833 shares during the last quarter. Commonwealth Equity Services LLC grew its stake in Edwards Lifesciences by 7.3% during the 3rd quarter. Commonwealth Equity Services LLC now owns 163,984 shares of the medical research company’s stock valued at $11,361,000 after acquiring an additional 11,117 shares in the last quarter. FAS Wealth Partners Inc. purchased a new stake in Edwards Lifesciences during the 3rd quarter valued at about $1,472,000. Finally, WELLCOME TRUST LTD THE as trustee of the WELLCOME TRUST raised its holdings in Edwards Lifesciences by 440.0% in the 3rd quarter. WELLCOME TRUST LTD THE as trustee of the WELLCOME TRUST now owns 3,510,000 shares of the medical research company’s stock valued at $243,173,000 after acquiring an additional 2,860,000 shares during the last quarter. 79.46% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Edwards Lifesciences

In related news, CFO Scott B. Ullem sold 7,255 shares of Edwards Lifesciences stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $78.29, for a total transaction of $567,993.95. Following the completion of the sale, the chief financial officer now owns 19,248 shares of the company’s stock, valued at $1,506,925.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CFO Scott B. Ullem sold 7,255 shares of the business’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $78.29, for a total value of $567,993.95. Following the completion of the transaction, the chief financial officer now owns 19,248 shares of the company’s stock, valued at approximately $1,506,925.92. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Scott B. Ullem sold 7,250 shares of the stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $85.80, for a total transaction of $622,050.00. Following the sale, the chief financial officer now directly owns 19,074 shares in the company, valued at $1,636,549.20. The disclosure for this sale can be found here. In the last quarter, insiders have sold 201,254 shares of company stock worth $17,788,304. 1.27% of the stock is owned by corporate 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.