Edwards Lifesciences (NYSE:EW) Releases Earnings Results, Beats Expectations By $0.06 EPS

Edwards Lifesciences (NYSE:EW) released its earnings results on Wednesday. The medical research company reported $0.80 EPS for the quarter, topping the consensus estimate of $0.74 by $0.06, FiscalAI reports. The firm had revenue of $1.72 billion during the quarter, compared to analysts’ expectations of $1.68 billion. Edwards Lifesciences had a return on equity of 15.68% and a net margin of 15.43%.

Edwards Lifesciences Price Performance

Edwards Lifesciences stock traded up $4.20 during trading hours on Wednesday, hitting $99.39. The stock had a trading volume of 7,874,736 shares, compared to its average volume of 4,510,107. Edwards Lifesciences has a 1-year low of $74.66 and a 1-year high of $100.25. The company has a debt-to-equity ratio of 0.06, a current ratio of 4.52 and a quick ratio of 3.77. The stock’s fifty day moving average is $88.31 and its two-hundred day moving average is $85.53. The stock has a market capitalization of $57.23 billion, a price-to-earnings ratio of 57.12, a PEG ratio of 2.44 and a beta of 0.85.

Insider Buying and Selling at Edwards Lifesciences

In related news, SVP Andrew M. Dahl sold 544 shares of the stock in a transaction on Monday, August 31st. The stock was sold at an average price of $91.06, for a total transaction of $49,536.64. Following the sale, the senior vice president owned 14,868 shares of the company’s stock, valued at $1,353,880.08. This trade represents a 3.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Daniel J. Lippis sold 619 shares of the business’s stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $92.03, for a total transaction of $56,966.57. Following the completion of the transaction, the vice president directly owned 40,034 shares of the company’s stock, valued at approximately $3,684,329.02. This represents a 1.52% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 5,045 shares of company stock worth $451,596. 0.31% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. JPMorgan Chase & Co. upped their price target on Edwards Lifesciences from $100.00 to $105.00 and gave the company an “overweight” rating in a report on Friday, October 2nd. Evercore reiterated an “outperform” rating on shares of Edwards Lifesciences in a research report on Friday, October 23rd. Citigroup reissued a “buy” rating and issued a $101.00 target price (up from $96.00) on shares of Edwards Lifesciences in a research report on Monday, October 5th. The Goldman Sachs Group increased their price objective on Edwards Lifesciences from $98.00 to $102.00 and gave the company a “buy” rating in a report on Tuesday, July 14th. Finally, Raymond James Financial lifted their target price on shares of Edwards Lifesciences from $100.00 to $103.00 and gave the company an “outperform” rating in a report on Friday, July 24th. One analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, Edwards Lifesciences currently has a consensus rating of “Moderate Buy” and an average target price of $101.88.

About Edwards Lifesciences

Edwards Lifesciences Corporation (NYSE:EW) is a medical technology company focused on therapies for structural heart disease and critical care. The company develops and manufactures products designed to treat conditions affecting the heart’s valves, including aortic, mitral and tricuspid valve disorders.

Its portfolio includes transcatheter aortic valve replacement systems, transcatheter mitral and tricuspid therapies, surgical heart valves and valve-repair technologies. Edwards also provides related delivery systems and other medical devices used by physicians in minimally invasive and open-heart procedures.

Founded in 1958 by Miles Lowell Edwards, the company is headquartered in Irvine, California, and serves healthcare providers and patients internationally.