Edwards Lifesciences (NYSE:EW) Updates Q3 2019 Earnings Guidance

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Edwards Lifesciences (NYSE:EW) updated its third quarter 2019 earnings guidance on Tuesday. The company provided earnings per share guidance of $1.13-1.23 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $1.25. The company issued revenue guidance of $1.02-1.06 billion, compared to the consensus revenue estimate of $1.02 billion.Edwards Lifesciences also updated its FY 2019 guidance to $5.20-5.40 EPS.

A number of equities analysts recently commented on the company. BTIG Research assumed coverage on in a research note on Wednesday, April 24th. They issued a buy rating and a $5.00 price target for the company. Zacks Investment Research downgraded CGI from a buy rating to a hold rating in a research note on Wednesday, June 19th. Deutsche Bank lifted their price target on Texas Instruments from $100.00 to $110.00 and gave the stock a hold rating in a research note on Wednesday, April 24th. JPMorgan Chase & Co. lifted their price target on Edwards Lifesciences from $175.00 to $190.00 and gave the stock a neutral rating in a research note on Wednesday, March 27th. They noted that the move was a valuation call. Finally, Barclays reiterated a sell rating on shares of Deutsche Bank in a research note on Monday, March 25th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and fourteen have issued a buy rating to the company. The stock has a consensus rating of Buy and an average price target of $188.75.

EW stock traded up $1.45 during midday trading on Tuesday, reaching $195.46. The company had a trading volume of 1,141,571 shares, compared to its average volume of 1,305,756. The company has a debt-to-equity ratio of 0.19, a current ratio of 3.66 and a quick ratio of 2.69. The stock’s 50 day moving average price is $187.46. Edwards Lifesciences has a fifty-two week low of $134.53 and a fifty-two week high of $197.86. The stock has a market cap of $40.52 billion, a price-to-earnings ratio of 41.59, a PEG ratio of 2.48 and a beta of 0.85.

Edwards Lifesciences (NYSE:EW) last issued its earnings results on Tuesday, April 23rd. The medical research company reported $1.32 EPS for the quarter, beating the Zacks’ consensus estimate of $1.23 by $0.09. Edwards Lifesciences had a return on equity of 31.16% and a net margin of 20.03%. The company had revenue of $993.00 million during the quarter, compared to the consensus estimate of $989.87 million. During the same period in the previous year, the firm posted $1.22 earnings per share. Edwards Lifesciences’s quarterly revenue was up 11.0% compared to the same quarter last year. As a group, analysts anticipate that Edwards Lifesciences will post 5.29 EPS for the current fiscal year.

In other news, CEO Michael A. Mussallem sold 32,800 shares of Edwards Lifesciences stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $174.73, for a total transaction of $5,731,144.00. Following the sale, the chief executive officer now owns 75,926 shares of the company’s stock, valued at $13,266,549.98. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Robert W.A. Sellers sold 821 shares of Edwards Lifesciences stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $175.36, for a total value of $143,970.56. Following the sale, the vice president now directly owns 14,176 shares in the company, valued at approximately $2,485,903.36. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 163,895 shares of company stock worth $29,555,839. Corporate insiders own 1.63% of the company’s stock.

Edwards Lifesciences Company Profile

Edwards Lifesciences Corporation provides products and technologies for structural heart disease and critical care monitoring in the United States and internationally. It offers transcatheter heart valve therapy products comprising transcatheter aortic valve replacement, and transcatheter mitral and tricuspid therapies for the nonsurgical replacement of heart valves.

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

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