Analysts Expect Edwards Lifesciences Co. (NYSE:EW) Will Announce Quarterly Sales of $1.41 Billion

Wall Street analysts expect that Edwards Lifesciences Co. (NYSE:EWGet Rating) will post sales of $1.41 billion for the current quarter, according to Zacks Investment Research. Ten analysts have issued estimates for Edwards Lifesciences’ earnings, with estimates ranging from $1.38 billion to $1.52 billion. Edwards Lifesciences reported sales of $1.38 billion in the same quarter last year, which indicates a positive year over year growth rate of 2.2%. The business is expected to report its next earnings results on Monday, January 1st.

On average, analysts expect that Edwards Lifesciences will report full-year sales of $5.73 billion for the current year, with estimates ranging from $5.66 billion to $5.87 billion. For the next financial year, analysts anticipate that the business will report sales of $6.38 billion, with estimates ranging from $6.29 billion to $6.47 billion. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that cover Edwards Lifesciences.

Edwards Lifesciences (NYSE:EWGet Rating) last issued its quarterly earnings results on Tuesday, April 26th. The medical research company reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.03. Edwards Lifesciences had a return on equity of 25.80% and a net margin of 28.72%. The company had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.31 billion. During the same quarter in the prior year, the company posted $0.54 EPS. The business’s revenue for the quarter was up 10.2% compared to the same quarter last year.

EW has been the topic of several research reports. Truist Financial initiated coverage on Edwards Lifesciences in a research report on Tuesday, April 12th. They issued a “buy” rating and a $145.00 target price on the stock. Wolfe Research assumed coverage on Edwards Lifesciences in a research report on Tuesday, April 5th. They issued an “outperform” rating and a $134.00 target price on the stock. Credit Suisse Group increased their price target on Edwards Lifesciences from $131.00 to $144.00 and gave the company an “outperform” rating in a report on Friday, January 7th. Bank of America initiated coverage on Edwards Lifesciences in a report on Tuesday, March 1st. They issued a “neutral” rating for the company. Finally, Canaccord Genuity Group lowered their target price on Edwards Lifesciences from $152.00 to $137.00 in a research note on Wednesday, April 27th. Four analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $128.29.

In other news, Director Martha H. Marsh sold 28,722 shares of Edwards Lifesciences stock in a transaction on Thursday, April 28th. The shares were sold at an average price of $108.09, for a total transaction of $3,104,560.98. Following the transaction, the director now directly owns 26,777 shares of the company’s stock, valued at $2,894,325.93. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Michael A. Mussallem sold 32,550 shares of Edwards Lifesciences stock in a transaction on Tuesday, February 15th. The stock was sold at an average price of $110.09, for a total transaction of $3,583,429.50. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 267,081 shares of company stock worth $29,606,428. Insiders own 1.29% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in EW. American National Bank raised its holdings in shares of Edwards Lifesciences by 99.1% during the first quarter. American National Bank now owns 233 shares of the medical research company’s stock worth $27,000 after acquiring an additional 116 shares during the period. Liberty Wealth Management LLC raised its holdings in shares of Edwards Lifesciences by 362.3% during the third quarter. Liberty Wealth Management LLC now owns 245 shares of the medical research company’s stock worth $29,000 after acquiring an additional 192 shares during the period. EverSource Wealth Advisors LLC acquired a new stake in shares of Edwards Lifesciences during the fourth quarter worth $29,000. Rinkey Investments acquired a new stake in shares of Edwards Lifesciences during the fourth quarter worth $29,000. Finally, Northwest Investment Counselors LLC acquired a new stake in shares of Edwards Lifesciences during the fourth quarter worth $30,000. 82.54% of the stock is currently owned by institutional investors.

Shares of EW opened at $104.83 on Tuesday. The company has a current ratio of 3.41, a quick ratio of 2.38 and a debt-to-equity ratio of 0.10. The firm has a market capitalization of $65.13 billion, a P/E ratio of 42.96, a price-to-earnings-growth ratio of 3.19 and a beta of 1.15. The stock’s fifty day simple moving average is $114.10 and its 200 day simple moving average is $115.58. Edwards Lifesciences has a twelve month low of $87.32 and a twelve month high of $131.73.

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

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