Edwards Lifesciences (EW) Updates FY18 Earnings Guidance

Edwards Lifesciences (NYSE:EW) issued an update on its FY18 earnings guidance on Thursday morning. The company provided earnings per share guidance of $4.10-4.30 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $4.15. The company issued revenue guidance of $3.5-3.9 billion, compared to the consensus revenue estimate of $3.71 billion.Edwards Lifesciences also updated its FY17 guidance to $3.65-3.85 EPS.

Edwards Lifesciences (NYSE EW) traded up $4.09 during trading on Thursday, hitting $117.45. The stock had a trading volume of 2,258,692 shares, compared to its average volume of 1,641,257. The company has a debt-to-equity ratio of 0.33, a current ratio of 3.49 and a quick ratio of 2.76. The firm has a market cap of $23,923.63, a PE ratio of 31.32, a price-to-earnings-growth ratio of 2.02 and a beta of 0.51. Edwards Lifesciences has a 52-week low of $81.90 and a 52-week high of $121.45.

Edwards Lifesciences (NYSE:EW) last posted its quarterly earnings data on Tuesday, October 24th. The medical research company reported $0.84 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.86 by ($0.02). The business had revenue of $821.50 million during the quarter, compared to analyst estimates of $833.85 million. Edwards Lifesciences had a return on equity of 27.22% and a net margin of 22.47%. The firm’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.68 EPS. equities research analysts forecast that Edwards Lifesciences will post 3.75 EPS for the current year.

Edwards Lifesciences announced that its Board of Directors has approved a share buyback program on Thursday, December 7th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the medical research company to reacquire shares of its stock through open market purchases. Shares buyback programs are often an indication that the company’s board believes its stock is undervalued.

A number of analysts have commented on the company. Canaccord Genuity reaffirmed a buy rating and set a $155.00 price target on shares of Edwards Lifesciences in a research report on Sunday, October 8th. Cowen reaffirmed a buy rating and set a $135.00 price target on shares of Edwards Lifesciences in a research report on Thursday, October 12th. Barclays lowered their price target on Edwards Lifesciences from $120.00 to $118.00 and set an equal weight rating for the company in a research report on Wednesday, October 25th. BidaskClub cut Edwards Lifesciences from a buy rating to a hold rating in a research report on Friday, August 25th. Finally, Royal Bank Of Canada reaffirmed a buy rating and set a $130.00 price target on shares of Edwards Lifesciences in a research report on Friday, September 1st. Seven equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Edwards Lifesciences has a consensus rating of Buy and an average price target of $125.53.

In related news, VP Donald E. Bobo, Jr. sold 5,300 shares of Edwards Lifesciences stock in a transaction dated Friday, September 29th. The stock was sold at an average price of $108.86, for a total value of $576,958.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Michael A. Mussallem sold 32,900 shares of Edwards Lifesciences stock in a transaction dated Monday, October 30th. The shares were sold at an average price of $100.93, for a total value of $3,320,597.00. The disclosure for this sale can be found here. In the last three months, insiders sold 139,580 shares of company stock valued at $14,849,205. Insiders own 2.13% of the company’s stock.

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Edwards Lifesciences Company Profile

Edwards Lifesciences Corporation is a manufacturer of heart valve systems and repair products used to replace or repair a patient’s diseased or defective heart valve. The Company is engaged in patient-focused innovations for structural heart disease and critical care monitoring. Its segments include United States, Europe, Japan and Rest of World.

Earnings History and Estimates for Edwards Lifesciences (NYSE:EW)

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