Edwards Lifesciences (NYSE:EW) Issues Quarterly Earnings Results, Beats Expectations By $0.06 EPS

Key Points

• Edwards Lifesciences beat quarterly expectations, posting EPS of $0.80 versus the $0.74 consensus and revenue of $1.72 billion versus estimates of $1.68 billion.
• The stock rose 4.4% to $99.39 after the results. Analysts’ consensus rating was “Moderate Buy,” with an average price target of $101.88.
• Company insiders sold 5,045 shares worth about $451,600 over the last quarter; the article notes one VP’s sale was made under a pre-arranged trading plan.

Edwards Lifesciences (NYSE:EW - Get Free Report) released its earnings results on Wednesday. The medical research company reported $0.80 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.74 by $0.06, FiscalAI reports. The company had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.68 billion. Edwards Lifesciences had a net margin of 15.43% and a return on equity of 15.68%.

Edwards Lifesciences Stock Up 4.4%

EW traded up $4.20 on Wednesday, reaching $99.39. The company's stock had a trading volume of 7,823,507 shares, compared to its average volume of 4,501,769. The stock has a 50 day moving average of $88.31 and a two-hundred day moving average of $85.53. The company has a quick ratio of 3.77, a current ratio of 4.52 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $57.23 billion, a price-to-earnings ratio of 57.12, a P/E/G ratio of 2.44 and a beta of 0.85. Edwards Lifesciences has a fifty-two week low of $74.66 and a fifty-two week high of $100.25.

Analysts Set New Price Targets

Several research firms have commented on EW. Barclays upgraded shares of Edwards Lifesciences to a "strong-buy" rating in a research note on Wednesday, October 7th. Sanford C. Bernstein upped their target price on shares of Edwards Lifesciences from $96.00 to $99.00 and gave the stock a "market perform" rating in a research note on Friday, July 24th. The Goldman Sachs Group raised their target price on shares of Edwards Lifesciences from $98.00 to $102.00 and gave the company a "buy" rating in a report on Tuesday, July 14th. JPMorgan Chase & Co. lifted their price target on shares of Edwards Lifesciences from $100.00 to $105.00 and gave the stock an "overweight" rating in a research note on Friday, October 2nd. Finally, Rothschild & Co Redburn boosted their price target on shares of Edwards Lifesciences from $99.00 to $102.00 and gave the stock a "buy" rating in a report on Monday, July 27th. One research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $101.88.

Insiders Place Their Bets

In related news, VP Daniel J. Lippis sold 619 shares of the business's stock in a transaction on Thursday, October 8th. The shares were sold at an average price of $85.65, for a total value of $53,017.35. Following the completion of the sale, the vice president directly owned 40,034 shares of the company's stock, valued at $3,428,912.10. The trade was a 1.52% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 dated Monday, August 31st. The stock was sold at an average price of $91.06, for a total value of $49,536.64. Following the sale, the senior vice president owned 14,868 shares in the company, valued at $1,353,880.08. This trade represents a 3.53% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 5,045 shares of company stock valued at $451,596. 0.31% of the stock is owned by corporate insiders.

About Edwards Lifesciences

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.

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