Leerink Partnrs Comments on Edwards Lifesciences Co.’s Q1 2024 Earnings (NYSE:EW)

Edwards Lifesciences Co. (NYSE:EWFree Report) – Leerink Partnrs decreased their Q1 2024 earnings estimates for Edwards Lifesciences in a research note issued to investors on Wednesday, February 7th. Leerink Partnrs analyst M. Kratky now anticipates that the medical research company will earn $0.65 per share for the quarter, down from their previous forecast of $0.68. Leerink Partnrs has a “Market Perform” rating on the stock. The consensus estimate for Edwards Lifesciences’ current full-year earnings is $2.75 per share.

A number of other analysts have also recently commented on EW. Truist Financial upped their price objective on shares of Edwards Lifesciences from $78.00 to $84.00 and gave the company a “buy” rating in a research report on Friday, December 22nd. SVB Leerink initiated coverage on shares of Edwards Lifesciences in a research note on Monday, October 16th. They issued a “market perform” rating and a $75.00 price target on the stock. Mizuho increased their price objective on shares of Edwards Lifesciences from $85.00 to $95.00 and gave the stock a “buy” rating in a research report on Wednesday. Wells Fargo & Company raised shares of Edwards Lifesciences from an “equal weight” rating to an “overweight” rating and set a $94.00 price objective on the stock in a research report on Friday, February 2nd. Finally, Wolfe Research cut Edwards Lifesciences from a “peer perform” rating to an “underperform” rating and set a $57.00 target price for the company. in a report on Tuesday, November 28th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $86.56.

Get Our Latest Stock Report on EW

Edwards Lifesciences Price Performance

Edwards Lifesciences stock opened at $86.61 on Thursday. The firm has a market capitalization of $52.53 billion, a P/E ratio of 37.66, a PEG ratio of 4.85 and a beta of 1.04. The business has a 50-day moving average of $75.01 and a 200-day moving average of $73.55. The company has a current ratio of 3.28, a quick ratio of 2.45 and a debt-to-equity ratio of 0.09. Edwards Lifesciences has a 1 year low of $60.57 and a 1 year high of $94.87.

Edwards Lifesciences (NYSE:EWGet Free Report) last posted its quarterly earnings results on Tuesday, February 6th. The medical research company reported $0.64 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.64. The business had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.50 billion. Edwards Lifesciences had a return on equity of 23.84% and a net margin of 23.35%. The firm’s revenue was up 13.3% on a year-over-year basis. During the same period last year, the company earned $0.64 EPS.

Institutional Investors Weigh In On Edwards Lifesciences

A number of institutional investors have recently modified their holdings of the business. Truvestments Capital LLC grew its position in shares of Edwards Lifesciences by 260.0% during the 2nd quarter. Truvestments Capital LLC now owns 270 shares of the medical research company’s stock worth $25,000 after purchasing an additional 195 shares in the last quarter. Castleview Partners LLC bought a new stake in shares of Edwards Lifesciences during the 1st quarter valued at $25,000. Compass Wealth Management LLC bought a new position in shares of Edwards Lifesciences in the fourth quarter worth $31,000. Northwest Capital Management Inc acquired a new position in Edwards Lifesciences in the second quarter valued at about $34,000. Finally, Turtle Creek Wealth Advisors LLC bought a new stake in Edwards Lifesciences during the fourth quarter worth about $34,000. Institutional investors own 79.25% of the company’s stock.

Insider Activity

In other Edwards Lifesciences news, insider Larry L. Wood sold 8,660 shares of the company’s stock in a transaction that occurred on Monday, November 13th. The stock was sold at an average price of $65.30, for a total value of $565,498.00. Following the sale, the insider now owns 213,794 shares in the company, valued at $13,960,748.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, insider Larry L. Wood sold 8,660 shares of Edwards Lifesciences stock in a transaction dated Monday, November 13th. The shares were sold at an average price of $65.30, for a total transaction of $565,498.00. Following the completion of the sale, the insider now owns 213,794 shares of the company’s stock, valued at approximately $13,960,748.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Scott B. Ullem sold 14,510 shares of the firm’s stock in a transaction that occurred on Friday, December 29th. The stock was sold at an average price of $76.55, for a total transaction of $1,110,740.50. Following the sale, the chief financial officer now owns 19,248 shares of the company’s stock, valued at $1,473,434.40. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 132,283 shares of company stock valued at $9,714,586. 1.29% of the stock is owned by company insiders.

About Edwards Lifesciences

(Get Free Report)

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.

Read More

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

Receive News & Ratings for Edwards Lifesciences Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Edwards Lifesciences and related companies with MarketBeat.com's FREE daily email newsletter.