Edwards Lifesciences (NYSE:EW) Releases FY22 Earnings Guidance

Edwards Lifesciences (NYSE:EW – Get Rating) updated its FY22 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $2.50-2.65 for the period, compared to the Thomson Reuters consensus estimate of $2.56. The company issued revenue guidance of $5.5-6.0 billion, compared to the consensus revenue estimate of $5.76 billion.Edwards Lifesciences also updated its FY 2022 guidance to $2.500-$2.650 EPS.

Several equities research analysts have issued reports on the stock. Credit Suisse Group raised their price target on shares of Edwards Lifesciences from $131.00 to $144.00 and gave the stock an outperform rating in a research note on Friday, January 7th. Sanford C. Bernstein raised shares of Edwards Lifesciences from a market perform rating to an outperform rating and raised their target price for the stock from $132.00 to $135.00 in a research report on Wednesday, March 16th. StockNews.com cut shares of Edwards Lifesciences from a buy rating to a hold rating in a research report on Saturday, April 16th. Wolfe Research initiated coverage on shares of Edwards Lifesciences in a research report on Tuesday, April 5th. They issued an outperform rating and a $134.00 target price on the stock. Finally, Bank of America initiated coverage on shares of Edwards Lifesciences in a research report on Tuesday, March 1st. They issued a neutral rating on the stock. Five analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. According to data from MarketBeat, Edwards Lifesciences presently has an average rating of Buy and a consensus target price of $127.52.

Shares of NYSE:EW traded down $3.53 during midday trading on Tuesday, reaching $116.27. The company had a trading volume of 3,434,787 shares, compared to its average volume of 2,668,728. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.08 and a quick ratio of 2.38. The stock’s fifty day moving average price is $113.98 and its 200-day moving average price is $115.61. The stock has a market capitalization of $72.24 billion, a P/E ratio of 48.65, a PEG ratio of 3.52 and a beta of 1.15. Edwards Lifesciences has a one year low of $87.32 and a one year high of $131.73.

Edwards Lifesciences (NYSE:EW – Get Rating) last issued its quarterly earnings results on Tuesday, April 26th. The medical research company reported $0.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.03. The business had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.31 billion. Edwards Lifesciences had a net margin of 28.73% and a return on equity of 26.53%. The business’s revenue was up 10.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.54 earnings per share. As a group, sell-side analysts forecast that Edwards Lifesciences will post 2.56 earnings per share for the current year.

In other Edwards Lifesciences news, CEO Michael A. Mussallem sold 32,550 shares of Edwards Lifesciences stock in a transaction on Tuesday, February 15th. The shares were sold at an average price of $110.09, for a total value of $3,583,429.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Catherine M. Szyman sold 20,000 shares of Edwards Lifesciences stock in a transaction on Friday, February 18th. The stock was sold at an average price of $106.31, for a total transaction of $2,126,200.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 216,859 shares of company stock valued at $24,110,684. Insiders own 1.29% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in EW. EverSource Wealth Advisors LLC acquired a new position in shares of Edwards Lifesciences during the fourth quarter valued at $29,000. Carroll Investors Inc acquired a new position in shares of Edwards Lifesciences during the fourth quarter valued at $62,000. Zullo Investment Group Inc. acquired a new position in shares of Edwards Lifesciences during the fourth quarter valued at $128,000. Crestwood Advisors Group LLC acquired a new position in shares of Edwards Lifesciences during the fourth quarter valued at $279,000. Finally, Forum Financial Management LP acquired a new position in shares of Edwards Lifesciences during the fourth quarter valued at $334,000. 81.91% of the stock is 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.

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