Edwards Lifesciences Corp (EW) Expected to Post Quarterly Sales of $835.56 Million

Wall Street analysts expect Edwards Lifesciences Corp (NYSE:EW) to post $835.56 million in sales for the current quarter, according to Zacks Investment Research. Eight analysts have made estimates for Edwards Lifesciences Corp’s earnings, with the highest sales estimate coming in at $849.00 million and the lowest estimate coming in at $822.20 million. Edwards Lifesciences Corp reported sales of $759.30 million in the same quarter last year, which indicates a positive year over year growth rate of 10%. The firm is scheduled to announce its next earnings report on Tuesday, July 25th.

On average, analysts expect that Edwards Lifesciences Corp will report full year sales of $835.56 million for the current year, with estimates ranging from $3.29 billion to $3.39 billion. For the next year, analysts expect that the business will report sales of $3.64 billion per share, with estimates ranging from $3.52 billion to $3.77 billion. Zacks’ sales averages are a mean average based on a survey of research analysts that cover Edwards Lifesciences Corp.

Edwards Lifesciences Corp (NYSE:EW) last posted its quarterly earnings results on Tuesday, April 25th. The medical research company reported $0.94 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.82 by $0.12. The business had revenue of $883.50 million during the quarter, compared to analyst estimates of $776.51 million. Edwards Lifesciences Corp had a net margin of 26.06% and a return on equity of 34.44%. The company’s revenue was up 26.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.71 earnings per share.

EW has been the topic of a number of research analyst reports. Vetr cut shares of Edwards Lifesciences Corp from a “strong-buy” rating to a “buy” rating and set a $106.36 price target on the stock. in a research note on Thursday, February 23rd. Northland Securities set a $105.00 price target on shares of Edwards Lifesciences Corp and gave the company a “buy” rating in a research note on Monday, March 20th. Stifel Nicolaus lifted their price target on shares of Edwards Lifesciences Corp from $114.00 to $118.00 and gave the company a “buy” rating in a research note on Wednesday, April 26th. Jefferies Group LLC reissued a “buy” rating on shares of Edwards Lifesciences Corp in a research note on Wednesday, April 26th. Finally, Zacks Investment Research raised shares of Edwards Lifesciences Corp from a “hold” rating to a “buy” rating and set a $127.00 price target on the stock in a research note on Tuesday, May 16th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company’s stock. Edwards Lifesciences Corp has a consensus rating of “Buy” and an average target price of $120.38.

In other news, VP Patrick B. Verguet sold 10,000 shares of the business’s stock in a transaction dated Wednesday, May 31st. The stock was sold at an average price of $114.88, for a total transaction of $1,148,800.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Michael A. Mussallem sold 49,100 shares of the business’s stock in a transaction dated Friday, April 28th. The stock was sold at an average price of $109.78, for a total value of $5,390,198.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 284,221 shares of company stock valued at $31,023,158. Corporate insiders own 2.13% of the company’s stock.

Several institutional investors have recently made changes to their positions in EW. Quadrant Capital Group LLC increased its position in shares of Edwards Lifesciences Corp by 3.5% in the first quarter. Quadrant Capital Group LLC now owns 1,209 shares of the medical research company’s stock worth $109,000 after buying an additional 41 shares during the period. Rehmann Capital Advisory Group increased its position in shares of Edwards Lifesciences Corp by 1.6% in the first quarter. Rehmann Capital Advisory Group now owns 3,393 shares of the medical research company’s stock worth $319,000 after buying an additional 55 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in shares of Edwards Lifesciences Corp by 0.8% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 12,257 shares of the medical research company’s stock worth $1,148,000 after buying an additional 99 shares during the period. WFG Advisors LP increased its position in shares of Edwards Lifesciences Corp by 4.0% in the first quarter. WFG Advisors LP now owns 2,580 shares of the medical research company’s stock worth $243,000 after buying an additional 100 shares during the period. Finally, RiverPoint Capital Management LLC increased its position in shares of Edwards Lifesciences Corp by 1.0% in the first quarter. RiverPoint Capital Management LLC now owns 12,186 shares of the medical research company’s stock worth $1,146,000 after buying an additional 115 shares during the period. 84.60% of the stock is owned by institutional investors and hedge funds.

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Edwards Lifesciences Corp (EW) traded down 0.82% during trading on Friday, hitting $117.87. 1,395,631 shares of the stock traded hands. The stock has a 50 day moving average price of $113.72 and a 200-day moving average price of $98.91. Edwards Lifesciences Corp has a 52-week low of $81.12 and a 52-week high of $121.75. The stock has a market cap of $24.73 billion, a P/E ratio of 39.19 and a beta of 0.75.

Edwards Lifesciences Corp Company Profile

Edwards Lifesciences Corporation is a manufacturer of heart valve systems and repair products used to replace or repair a patient’s diseased or defective heart valve. The Company is engaged in patient-focused innovations for structural heart disease and critical care monitoring. Its segments include United States, Europe, Japan and Rest of World.

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