Edwards Lifesciences Co. (NYSE:EW) Forecasted to Earn Q2 2024 Earnings of $0.72 Per Share

Edwards Lifesciences Co. (NYSE:EW - Free Report) - Equities research analysts at Leerink Partnrs boosted their Q2 2024 earnings per share (EPS) estimates for Edwards Lifesciences in a research note issued to investors on Thursday, March 28th. Leerink Partnrs analyst M. Kratky now anticipates that the medical research company will earn $0.72 per share for the quarter, up from their previous forecast of $0.71. The consensus estimate for Edwards Lifesciences' current full-year earnings is $2.76 per share. Leerink Partnrs also issued estimates for Edwards Lifesciences' FY2024 earnings at $2.78 EPS, Q1 2025 earnings at $0.75 EPS, Q2 2025 earnings at $0.80 EPS, Q3 2025 earnings at $0.81 EPS, Q4 2025 earnings at $0.82 EPS, FY2025 earnings at $3.19 EPS, FY2026 earnings at $3.61 EPS, FY2027 earnings at $4.04 EPS and FY2028 earnings at $4.38 EPS.

Several other equities analysts have also weighed in on the stock. Bank of America upgraded shares of Edwards Lifesciences from a "neutral" rating to a "buy" rating in a report on Thursday, March 7th. Stifel Nicolaus lifted their target price on Edwards Lifesciences from $70.00 to $83.00 and gave the stock a "hold" rating in a research note on Wednesday, February 7th. OTR Global raised Edwards Lifesciences from a "mixed" rating to a "positive" rating in a research report on Tuesday. Morgan Stanley lifted their price objective on Edwards Lifesciences from $95.00 to $103.00 and gave the company an "overweight" rating in a research note on Thursday, March 21st. Finally, Citigroup downgraded shares of Edwards Lifesciences from a "buy" rating to a "neutral" rating in a research report on Monday, December 11th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and ten have issued a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $88.80.

Edwards Lifesciences Trading Up 0.4 %

Shares of Edwards Lifesciences stock traded up $0.41 on Friday, reaching $95.56. 4,007,477 shares of the company's stock were exchanged, compared to its average volume of 4,107,345. The company has a debt-to-equity ratio of 0.09, a quick ratio of 2.40 and a current ratio of 3.38. Edwards Lifesciences has a 52 week low of $60.57 and a 52 week high of $96.12. The firm's 50-day moving average is $86.32 and its two-hundred day moving average is $76.13. The company has a market capitalization of $57.52 billion, a P/E ratio of 41.55, a price-to-earnings-growth ratio of 4.72 and a beta of 1.05.

Edwards Lifesciences (NYSE:EW - Get Free Report) last released its quarterly earnings results on Tuesday, February 6th. The medical research company reported $0.64 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.64. The firm had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.50 billion. Edwards Lifesciences had a net margin of 23.35% and a return on equity of 23.56%. The company's revenue was up 13.3% compared to the same quarter last year. During the same quarter last year, the business earned $0.64 EPS.

Hedge Funds Weigh In On Edwards Lifesciences

Several institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in Edwards Lifesciences by 1.4% during the fourth quarter. Vanguard Group Inc. now owns 52,363,400 shares of the medical research company's stock worth $3,992,709,000 after buying an additional 729,984 shares during the period. State Street Corp grew its position in Edwards Lifesciences by 0.4% during the 2nd quarter. State Street Corp now owns 27,053,304 shares of the medical research company's stock worth $2,551,938,000 after purchasing an additional 108,102 shares during the last quarter. Alliancebernstein L.P. increased its position in shares of Edwards Lifesciences by 0.3% in the 2nd quarter. Alliancebernstein L.P. now owns 20,512,235 shares of the medical research company's stock valued at $1,934,919,000 after acquiring an additional 66,763 shares during the period. Brown Advisory Inc. raised its stake in shares of Edwards Lifesciences by 20.1% in the fourth quarter. Brown Advisory Inc. now owns 18,181,420 shares of the medical research company's stock worth $1,386,333,000 after purchasing an additional 3,048,274 shares during the last quarter. Finally, Wellington Management Group LLP raised its position in Edwards Lifesciences by 2.4% during the 4th quarter. Wellington Management Group LLP now owns 16,827,510 shares of the medical research company's stock worth $1,283,098,000 after buying an additional 393,109 shares during the last quarter. Hedge funds and other institutional investors own 79.46% of the company's stock.

Insider Buying and Selling

In other Edwards Lifesciences news, Director Michael A. Mussallem sold 29,350 shares of the firm's stock in a transaction that occurred on Friday, January 5th. The stock was sold at an average price of $72.98, for a total transaction of $2,141,963.00. Following the completion of the transaction, the director now owns 4,486 shares in the company, valued at approximately $327,388.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Michael A. Mussallem sold 29,350 shares of the company's stock in a transaction dated Friday, January 5th. The shares were sold at an average price of $72.98, for a total transaction of $2,141,963.00. Following the sale, the director now directly owns 4,486 shares in the company, valued at approximately $327,388.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Catherine M. Szyman sold 27,000 shares of Edwards Lifesciences stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $85.62, for a total value of $2,311,740.00. Following the completion of the transaction, the vice president now owns 34,814 shares of the company's stock, valued at approximately $2,980,774.68. The disclosure for this sale can be found here. Over the last quarter, insiders sold 182,349 shares of company stock worth $15,334,555. 1.29% of the stock is owned by insiders.

About Edwards Lifesciences

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.