Edwards Lifesciences Corp (NYSE:EW) – Investment analysts at William Blair raised their Q2 2020 earnings estimates for Edwards Lifesciences in a research note issued on Friday, December 6th, according to Zacks Investment Research. William Blair analyst M. Kaczor now anticipates that the medical research company will post earnings of $1.53 per share for the quarter, up from their previous estimate of $1.51. William Blair also issued estimates for Edwards Lifesciences’ Q3 2020 earnings at $1.51 EPS, FY2020 earnings at $6.11 EPS, Q1 2021 earnings at $1.61 EPS, Q2 2021 earnings at $1.69 EPS, Q3 2021 earnings at $1.62 EPS and FY2021 earnings at $6.70 EPS.
Several other equities research analysts have also issued reports on the stock. Credit Suisse Group lifted their price target on shares of Edwards Lifesciences from $269.00 to $275.00 and gave the company an “outperform” rating in a report on Friday, December 6th. UBS Group raised their target price on shares of Edwards Lifesciences from $250.00 to $255.00 and gave the company a “neutral” rating in a research report on Friday, December 6th. Morgan Stanley boosted their target price on shares of Edwards Lifesciences from $248.00 to $270.00 and gave the stock an “overweight” rating in a research note on Friday, December 6th. Wells Fargo & Co increased their price target on Edwards Lifesciences from $262.00 to $270.00 and gave the company an “outperform” rating in a research note on Friday, December 6th. Finally, Piper Jaffray Companies raised their price objective on Edwards Lifesciences from $255.00 to $262.00 and gave the company an “overweight” rating in a report on Monday, December 9th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and thirteen have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $238.28.
Shares of EW opened at $235.79 on Monday. Edwards Lifesciences has a one year low of $140.51 and a one year high of $247.64. The firm has a 50 day simple moving average of $239.05 and a two-hundred day simple moving average of $217.79. The company has a debt-to-equity ratio of 0.17, a current ratio of 3.53 and a quick ratio of 2.74. The company has a market cap of $49.30 billion, a P/E ratio of 50.17, a P/E/G ratio of 2.85 and a beta of 0.80.
Edwards Lifesciences (NYSE:EW) last released its earnings results on Wednesday, October 23rd. The medical research company reported $1.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.22 by $0.19. Edwards Lifesciences had a return on equity of 32.28% and a net margin of 18.64%. The company had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.04 billion. During the same period in the prior year, the firm posted $1.07 EPS. Edwards Lifesciences’s quarterly revenue was up 20.7% on a year-over-year basis.
In other Edwards Lifesciences news, VP Catherine M. Szyman sold 2,500 shares of the firm’s stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $227.19, for a total value of $567,975.00. Following the completion of the sale, the vice president now owns 19,605 shares of the company’s stock, valued at $4,454,059.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Michael A. Mussallem sold 22,850 shares of the business’s stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $238.79, for a total value of $5,456,351.50. Following the sale, the chief executive officer now owns 95,770 shares of the company’s stock, valued at approximately $22,868,918.30. The disclosure for this sale can be found here. Insiders sold a total of 136,670 shares of company stock valued at $32,080,185 in the last quarter. 1.63% of the stock is currently owned by company insiders.
Several institutional investors have recently added to or reduced their stakes in the business. Quest Capital Management Inc. ADV purchased a new stake in Edwards Lifesciences in the 3rd quarter valued at about $28,000. TRUE Private Wealth Advisors bought a new position in Edwards Lifesciences in the 2nd quarter valued at $26,000. Usca Ria LLC purchased a new stake in shares of Edwards Lifesciences during the 3rd quarter valued at $34,000. Next Capital Management LLC increased its position in shares of Edwards Lifesciences by 297.7% during the 2nd quarter. Next Capital Management LLC now owns 171 shares of the medical research company’s stock valued at $32,000 after purchasing an additional 128 shares during the last quarter. Finally, Tarbox Family Office Inc. increased its position in shares of Edwards Lifesciences by 48.7% during the 2nd quarter. Tarbox Family Office Inc. now owns 177 shares of the medical research company’s stock valued at $33,000 after purchasing an additional 58 shares during the last quarter. 80.73% of the stock is currently owned by hedge funds and other institutional investors.
About Edwards Lifesciences
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.
