Edwards Lifesciences (NYSE:EW) Releases Earnings Results, Beats Estimates By $0.06 EPS

Edwards Lifesciences (NYSE:EW) announced its earnings results on Wednesday. The medical research company reported $0.80 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.06, FiscalAI reports. The business had revenue of $1.72 billion for the quarter, compared to analysts’ expectations of $1.68 billion. Edwards Lifesciences had a net margin of 15.43% and a return on equity of 15.68%.

Edwards Lifesciences Stock Performance

Shares of EW stock traded up $4.20 during trading hours on Wednesday, reaching $99.39. 7,823,507 shares of the company’s stock were exchanged, compared to its average volume of 4,501,769. The company has a debt-to-equity ratio of 0.06, a current ratio of 4.52 and a quick ratio of 3.77. The company’s 50 day moving average is $88.31 and its two-hundred day moving average is $85.53. The company has a market cap of $57.23 billion, a P/E ratio of 57.12, a price-to-earnings-growth ratio of 2.44 and a beta of 0.85. Edwards Lifesciences has a 1 year low of $74.66 and a 1 year high of $100.25.

Insider Activity at Edwards Lifesciences

In other news, VP Daniel J. Lippis sold 619 shares of Edwards Lifesciences stock in a transaction that occurred on Thursday, October 8th. The shares were sold at an average price of $85.65, for a total transaction of $53,017.35. Following the completion of the sale, the vice president directly owned 40,034 shares in the company, valued at approximately $3,428,912.10. This trade represents a 1.52% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Andrew M. Dahl sold 544 shares of Edwards Lifesciences stock in a transaction that occurred on Monday, August 31st. The shares were sold at an average price of $91.06, for a total transaction of $49,536.64. Following the sale, the senior vice president owned 14,868 shares of the company’s stock, valued at approximately $1,353,880.08. The trade was a 3.53% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 5,045 shares of company stock worth $451,596 over the last three months. 0.31% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have commented on EW. Sanford C. Bernstein lifted their price objective on shares of Edwards Lifesciences from $96.00 to $99.00 and gave the company a “market perform” rating in a research note on Friday, July 24th. Barclays upgraded shares of Edwards Lifesciences to a “strong-buy” rating in a research note on Wednesday, October 7th. Raymond James Financial raised their price target on Edwards Lifesciences from $100.00 to $103.00 and gave the stock an “outperform” rating in a report on Friday, July 24th. Piper Sandler reissued an “overweight” rating and issued a $101.00 target price (up from $100.00) on shares of Edwards Lifesciences in a report on Friday, July 24th. Finally, Deutsche Bank Aktiengesellschaft set a $104.00 target price on Edwards Lifesciences in a report on Tuesday, October 27th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $101.88.

Edwards Lifesciences Company Profile

Edwards Lifesciences Corporation (NYSE:EW) is a medical technology company focused on therapies for structural heart disease and critical care. The company develops and manufactures products designed to treat conditions affecting the heart’s valves, including aortic, mitral and tricuspid valve disorders.

Its portfolio includes transcatheter aortic valve replacement systems, transcatheter mitral and tricuspid therapies, surgical heart valves and valve-repair technologies. Edwards also provides related delivery systems and other medical devices used by physicians in minimally invasive and open-heart procedures.

Founded in 1958 by Miles Lowell Edwards, the company is headquartered in Irvine, California, and serves healthcare providers and patients internationally.