Edwards Lifesciences Co. (NYSE:EW) Expected to Announce Quarterly Sales of $1.28 Billion

Brokerages expect Edwards Lifesciences Co. (NYSE:EW) to announce sales of $1.28 billion for the current quarter, according to Zacks Investment Research. Nine analysts have made estimates for Edwards Lifesciences’ earnings, with the highest sales estimate coming in at $1.31 billion and the lowest estimate coming in at $1.26 billion. Edwards Lifesciences reported sales of $925.00 million during the same quarter last year, which indicates a positive year over year growth rate of 38.4%. The business is scheduled to announce its next quarterly earnings results on Thursday, July 22nd.

According to Zacks, analysts expect that Edwards Lifesciences will report full-year sales of $5.18 billion for the current financial year, with estimates ranging from $5.11 billion to $5.29 billion. For the next financial year, analysts expect that the firm will report sales of $5.70 billion, with estimates ranging from $5.47 billion to $5.99 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that cover Edwards Lifesciences.

Edwards Lifesciences (NYSE:EW) last released its quarterly earnings data on Monday, April 19th. The medical research company reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.07. The company had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.16 billion. Edwards Lifesciences had a net margin of 18.18% and a return on equity of 29.00%. The firm’s quarterly revenue was up 7.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.50 EPS.

Several brokerages have recently weighed in on EW. Zacks Investment Research cut shares of Edwards Lifesciences from a “buy” rating to a “hold” rating and set a $102.00 price target for the company. in a research report on Monday, April 26th. Piper Sandler upped their price target on shares of Edwards Lifesciences from $97.00 to $105.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 27th. Raymond James upped their price target on shares of Edwards Lifesciences from $96.00 to $101.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 27th. Atlantic Securities began coverage on shares of Edwards Lifesciences in a research report on Wednesday, April 21st. They issued a “neutral” rating and a $85.00 price target for the company. Finally, Wells Fargo & Company upped their price target on shares of Edwards Lifesciences from $87.00 to $93.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 21st. One analyst has rated the stock with a sell rating, five have issued a hold rating and eleven have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $99.93.

In other Edwards Lifesciences news, VP Catherine M. Szyman sold 3,389 shares of the company’s stock in a transaction that occurred on Tuesday, February 16th. The shares were sold at an average price of $88.20, for a total transaction of $298,909.80. Following the transaction, the vice president now owns 30,135 shares in the company, valued at approximately $2,657,907. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Larry L. Wood sold 7,830 shares of the company’s stock in a transaction that occurred on Monday, May 10th. The shares were sold at an average price of $92.22, for a total transaction of $722,082.60. Following the transaction, the vice president now owns 367,679 shares in the company, valued at approximately $33,907,357.38. The disclosure for this sale can be found here. Insiders have sold a total of 331,411 shares of company stock worth $28,358,009 in the last 90 days. 1.48% of the stock is currently owned by company insiders.

Large investors have recently added to or reduced their stakes in the company. Bainco International Investors acquired a new stake in shares of Edwards Lifesciences in the fourth quarter worth $28,000. Tompkins Financial Corp acquired a new stake in shares of Edwards Lifesciences in the fourth quarter worth $69,000. Sound Income Strategies LLC boosted its holdings in Edwards Lifesciences by 375.0% during the fourth quarter. Sound Income Strategies LLC now owns 380 shares of the medical research company’s stock worth $35,000 after buying an additional 300 shares in the last quarter. Central Bank & Trust Co. purchased a new stake in Edwards Lifesciences during the first quarter worth $33,000. Finally, JFS Wealth Advisors LLC purchased a new stake in Edwards Lifesciences during the first quarter worth $33,000. Hedge funds and other institutional investors own 80.94% of the company’s stock.

Edwards Lifesciences stock traded up $1.55 during trading hours on Wednesday, hitting $89.49. The company had a trading volume of 2,074,784 shares, compared to its average volume of 2,692,742. The company has a 50-day moving average price of $89.19 and a two-hundred day moving average price of $85.46. Edwards Lifesciences has a 1 year low of $66.23 and a 1 year high of $98.11. The firm has a market cap of $55.63 billion, a P/E ratio of 71.59, a P/E/G ratio of 2.61 and a beta of 0.97. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.61 and a current ratio of 3.52.

Edwards Lifesciences Company Profile

Edwards Lifesciences Corporation provides products and technologies for structural heart disease, and critical care and surgical monitoring in the United States, Europe, Japan, and internationally. It offers transcatheter heart valve replacement products for the minimally invasive replacement of heart valves; and transcatheter heart valve repair and replacement products to treat mitral and tricuspid valve diseases.

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

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