Zacks: Brokerages Expect Edwards Lifesciences Corp (EW) to Post $1.02 Earnings Per Share

Equities research analysts expect that Edwards Lifesciences Corp (NYSE:EW) will announce earnings per share of $1.02 for the current fiscal quarter, Zacks reports. Nine analysts have made estimates for Edwards Lifesciences’ earnings, with the highest EPS estimate coming in at $1.08 and the lowest estimate coming in at $0.99. Edwards Lifesciences reported earnings per share of $0.84 during the same quarter last year, which indicates a positive year-over-year growth rate of 21.4%. The firm is expected to report its next earnings report on Tuesday, October 23rd.

On average, analysts expect that Edwards Lifesciences will report full year earnings of $4.67 per share for the current fiscal year, with EPS estimates ranging from $4.60 to $4.71. For the next financial year, analysts forecast that the firm will post earnings of $5.24 per share, with EPS estimates ranging from $4.91 to $5.50. Zacks’ EPS averages are an average based on a survey of analysts that cover Edwards Lifesciences.

Edwards Lifesciences (NYSE:EW) last posted its quarterly earnings results on Thursday, July 26th. The medical research company reported $1.24 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.13 by $0.11. Edwards Lifesciences had a net margin of 19.59% and a return on equity of 29.11%. The business had revenue of $972.00 million for the quarter, compared to the consensus estimate of $968.32 million. During the same period in the prior year, the business posted $1.08 earnings per share. Edwards Lifesciences’s revenue for the quarter was up 10.0% compared to the same quarter last year.

A number of equities analysts have recently weighed in on EW shares. Royal Bank of Canada upped their price target on shares of Edwards Lifesciences to $145.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 23rd. Raymond James started coverage on shares of Edwards Lifesciences in a research note on Thursday, May 31st. They issued an “outperform” rating and a $152.00 price target on the stock. ValuEngine downgraded shares of Edwards Lifesciences from a “buy” rating to a “hold” rating in a research note on Wednesday, June 6th. Sanford C. Bernstein started coverage on shares of Edwards Lifesciences in a research note on Wednesday, June 27th. They issued a “market perform” rating and a $165.00 price target on the stock. Finally, BMO Capital Markets upped their price target on shares of Edwards Lifesciences to $162.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 10th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and fourteen have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $152.45.

In other Edwards Lifesciences news, CFO Scott B. Ullem sold 25,036 shares of the stock in a transaction on Wednesday, September 5th. The shares were sold at an average price of $140.04, for a total transaction of $3,506,041.44. Following the transaction, the chief financial officer now directly owns 41,019 shares of the company’s stock, valued at $5,744,300.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Larry L. Wood sold 6,300 shares of the stock in a transaction on Monday, July 16th. The stock was sold at an average price of $148.02, for a total transaction of $932,526.00. Following the transaction, the vice president now directly owns 121,950 shares in the company, valued at $18,051,039. The disclosure for this sale can be found here. Insiders have sold 139,111 shares of company stock worth $19,889,553 over the last three months. Company insiders own 1.84% of the company’s stock.

A number of institutional investors have recently bought and sold shares of EW. Schwab Charles Investment Management Inc. grew its position in shares of Edwards Lifesciences by 3.4% in the second quarter. Schwab Charles Investment Management Inc. now owns 794,667 shares of the medical research company’s stock valued at $115,680,000 after purchasing an additional 26,346 shares during the last quarter. Summit Global Investments acquired a new stake in shares of Edwards Lifesciences in the second quarter valued at about $2,923,000. HighPoint Advisor Group LLC grew its position in shares of Edwards Lifesciences by 38.0% in the first quarter. HighPoint Advisor Group LLC now owns 2,897 shares of the medical research company’s stock valued at $414,000 after purchasing an additional 798 shares during the last quarter. Fulcrum Capital LLC bought a new stake in shares of Edwards Lifesciences in the second quarter valued at about $2,920,000. Finally, CIBC Private Wealth Group LLC lifted its stake in shares of Edwards Lifesciences by 7.2% in the second quarter. CIBC Private Wealth Group LLC now owns 995,781 shares of the medical research company’s stock valued at $144,956,000 after buying an additional 66,544 shares during the period. 82.11% of the stock is currently owned by hedge funds and other institutional investors.

NYSE EW opened at $145.89 on Tuesday. Edwards Lifesciences has a 1-year low of $100.20 and a 1-year high of $156.87. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.47 and a current ratio of 1.86. The firm has a market capitalization of $30.34 billion, a PE ratio of 34.18, a P/E/G ratio of 2.00 and a beta of 0.57.

About Edwards Lifesciences

Edwards Lifesciences Corporation provides products and technologies to treat structural heart disease and critically ill patients in the United States and internationally. It offers transcatheter heart valve therapy products comprising transcatheter aortic heart valves and related delivery systems for the nonsurgical replacement of heart valves.

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