Jefferies Group Weighs in on Edwards Lifesciences Corporation’s Q2 2018 Earnings (EW)

Edwards Lifesciences Corporation (NYSE:EW) – Equities research analysts at Jefferies Group boosted their Q2 2018 earnings estimates for Edwards Lifesciences in a research report issued on Thursday. Jefferies Group analyst R. Denhoy now anticipates that the medical research company will post earnings per share of $1.07 for the quarter, up from their previous estimate of $1.06. Jefferies Group also issued estimates for Edwards Lifesciences’ Q3 2018 earnings at $1.03 EPS, Q4 2018 earnings at $1.08 EPS, FY2018 earnings at $4.21 EPS and FY2019 earnings at $4.87 EPS.

A number of other research analysts have also recently weighed in on the stock. BidaskClub cut shares of Edwards Lifesciences from a “buy” rating to a “hold” rating in a report on Friday, August 25th. William Blair restated an “outperform” rating on shares of Edwards Lifesciences in a report on Monday, August 28th. BMO Capital Markets restated a “buy” rating and issued a $132.00 price objective on shares of Edwards Lifesciences in a report on Friday, September 1st. Royal Bank of Canada restated a “buy” rating and issued a $130.00 price objective on shares of Edwards Lifesciences in a report on Friday, September 1st. Finally, Zacks Investment Research cut shares of Edwards Lifesciences from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 26th. Six investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $126.43.

Shares of Edwards Lifesciences (NYSE:EW) traded down $2.61 on Monday, hitting $115.57. 2,064,400 shares of the company’s stock were exchanged, compared to its average volume of 1,643,286. Edwards Lifesciences has a 1-year low of $86.55 and a 1-year high of $121.45. The firm has a market capitalization of $24,530.00, a PE ratio of 32.74, a PEG ratio of 2.11 and a beta of 0.51. The company has a current ratio of 3.49, a quick ratio of 2.76 and a debt-to-equity ratio of 0.33.

Edwards Lifesciences (NYSE:EW) last announced its quarterly earnings results on Tuesday, October 24th. The medical research company reported $0.84 earnings per share for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.02). Edwards Lifesciences had a net margin of 22.47% and a return on equity of 27.22%. The company had revenue of $821.50 million for the quarter, compared to analyst estimates of $833.85 million. During the same quarter in the prior year, the business earned $0.68 earnings per share. Edwards Lifesciences’s revenue was up 11.1% on a year-over-year basis.

Several large investors have recently modified their holdings of EW. Wetherby Asset Management Inc. purchased a new stake in shares of Edwards Lifesciences during the 2nd quarter worth approximately $206,000. Schwab Charles Investment Management Inc. lifted its position in shares of Edwards Lifesciences by 3.0% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 658,588 shares of the medical research company’s stock worth $77,872,000 after buying an additional 19,490 shares during the last quarter. First Mercantile Trust Co. purchased a new stake in shares of Edwards Lifesciences during the 2nd quarter worth approximately $723,000. Sigma Planning Corp purchased a new stake in shares of Edwards Lifesciences during the 2nd quarter worth approximately $217,000. Finally, Catalyst Capital Advisors LLC purchased a new stake in shares of Edwards Lifesciences during the 2nd quarter worth approximately $1,206,000. Institutional investors and hedge funds own 81.82% of the company’s stock.

In related news, VP Larry L. Wood sold 18,960 shares of Edwards Lifesciences stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $112.58, for a total value of $2,134,516.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Donald E. Bobo, Jr. sold 5,300 shares of Edwards Lifesciences stock in a transaction that occurred on Wednesday, November 29th. The stock was sold at an average price of $116.45, for a total transaction of $617,185.00. The disclosure for this sale can be found here. Insiders sold 139,580 shares of company stock valued at $14,849,205 in the last quarter. 2.13% of the stock is owned by insiders.

Edwards Lifesciences announced that its Board of Directors has authorized a stock repurchase program on Thursday, December 7th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the medical research company to buy shares of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s management believes its shares are undervalued.

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Edwards Lifesciences 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.

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

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