Edwards Lifesciences (NYSE:EW) Announces Quarterly Earnings Results, Beats Expectations By $0.03 EPS

Edwards Lifesciences (NYSE:EWGet Rating) announced its quarterly earnings results on Tuesday. The medical research company reported $0.60 EPS for the quarter, topping the Zacks’ consensus estimate of $0.57 by $0.03, MarketWatch Earnings reports. The business had revenue of $1.34 billion for the quarter, compared to analysts’ expectations of $1.31 billion. Edwards Lifesciences had a return on equity of 26.53% and a net margin of 28.73%. The business’s quarterly revenue was up 10.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.54 EPS.

Shares of Edwards Lifesciences stock traded down $3.53 during midday trading on Tuesday, hitting $116.27. The company had a trading volume of 3,434,787 shares, compared to its average volume of 2,668,728. Edwards Lifesciences has a 52-week low of $87.32 and a 52-week high of $131.73. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.38 and a current ratio of 3.08. The stock has a market capitalization of $72.24 billion, a P/E ratio of 48.65, a P/E/G ratio of 3.52 and a beta of 1.15. The company has a 50 day moving average of $113.98 and a 200 day moving average of $115.61.

A number of research firms recently commented on EW. Wolfe Research began coverage on shares of Edwards Lifesciences in a report on Tuesday, April 5th. They set an “outperform” rating and a $134.00 price target for the company. Evercore ISI lowered their price objective on shares of Edwards Lifesciences from $130.00 to $122.00 and set an “outperform” rating for the company in a research note on Thursday, January 27th. Piper Sandler cut their target price on Edwards Lifesciences from $133.00 to $125.00 in a research note on Thursday, January 27th. Citigroup lowered their price target on Edwards Lifesciences from $142.00 to $138.00 and set a “buy” rating for the company in a research report on Thursday, January 27th. Finally, Bank of America assumed coverage on Edwards Lifesciences in a research report on Tuesday, March 1st. They issued a “neutral” rating on the stock. Five investment analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. According to MarketBeat.com, Edwards Lifesciences has a consensus rating of “Buy” and an average price target of $127.52.

In related news, VP Larry L. Wood sold 4,386 shares of the business’s stock in a transaction that occurred on Tuesday, February 8th. The shares were sold at an average price of $109.55, for a total value of $480,486.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Donald E. Bobo, Jr. sold 11,050 shares of the stock in a transaction on Friday, January 28th. The shares were sold at an average price of $101.15, for a total value of $1,117,707.50. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 216,859 shares of company stock valued at $24,110,684. 1.29% of the stock is owned by corporate insiders.

Several institutional investors have recently added to or reduced their stakes in the stock. Barclays PLC increased its holdings in Edwards Lifesciences by 40.6% in the 4th quarter. Barclays PLC now owns 1,941,386 shares of the medical research company’s stock worth $251,511,000 after buying an additional 560,331 shares in the last quarter. NewEdge Advisors LLC boosted its holdings in shares of Edwards Lifesciences by 19.0% during the 4th quarter. NewEdge Advisors LLC now owns 16,054 shares of the medical research company’s stock valued at $2,080,000 after acquiring an additional 2,566 shares during the last quarter. Toroso Investments LLC grew its stake in shares of Edwards Lifesciences by 20.9% in the fourth quarter. Toroso Investments LLC now owns 10,941 shares of the medical research company’s stock worth $1,417,000 after acquiring an additional 1,894 shares during the period. NEXT Financial Group Inc raised its holdings in shares of Edwards Lifesciences by 161.6% during the fourth quarter. NEXT Financial Group Inc now owns 5,067 shares of the medical research company’s stock valued at $657,000 after purchasing an additional 3,130 shares during the last quarter. Finally, Forum Financial Management LP bought a new position in Edwards Lifesciences during the fourth quarter valued at approximately $334,000. 81.91% of the stock is currently owned by institutional investors.

About Edwards Lifesciences (Get Rating)

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.

See Also

Earnings History for Edwards Lifesciences (NYSE:EW)

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