FY2023 EPS Estimates for Edwards Lifesciences Co. (NYSE:EW) Boosted by Zacks Research

Posted by Defense World Staff on Jun 17th, 2023

Edwards Lifesciences Co. (NYSE:EW – Get Rating) – Investment analysts at Zacks Research lifted their FY2023 earnings per share estimates for shares of Edwards Lifesciences in a research report issued on Thursday, June 15th. Zacks Research analyst U. Biswas now forecasts that the medical research company will post earnings per share of $2.53 for the year, up from their previous forecast of $2.52. The consensus estimate for Edwards Lifesciences’ current full-year earnings is $2.55 per share. Zacks Research also issued estimates for Edwards Lifesciences’ Q1 2024 earnings at $0.69 EPS, FY2024 earnings at $2.79 EPS, Q1 2025 earnings at $0.77 EPS and FY2025 earnings at $3.09 EPS.

Several other brokerages have also issued reports on EW. Mizuho raised their price target on shares of Edwards Lifesciences from $85.00 to $95.00 in a research note on Tuesday, April 25th. UBS Group assumed coverage on shares of Edwards Lifesciences in a research report on Tuesday, March 28th. They set a “neutral” rating and a $84.00 price target for the company. StockNews.com initiated coverage on shares of Edwards Lifesciences in a research report on Thursday, May 18th. They set a “buy” rating for the company. Barclays lifted their price objective on shares of Edwards Lifesciences from $94.00 to $102.00 in a report on Friday, April 28th. Finally, TheStreet raised shares of Edwards Lifesciences from a “c+” rating to a “b-” rating in a report on Wednesday, April 19th. One analyst has rated the stock with a sell rating, ten have given a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $90.00.

Edwards Lifesciences Price Performance

Edwards Lifesciences stock opened at $91.94 on Friday. Edwards Lifesciences has a 52 week low of $67.13 and a 52 week high of $107.92. The company’s 50 day moving average price is $86.34 and its two-hundred day moving average price is $80.73. The company has a quick ratio of 2.17, a current ratio of 3.01 and a debt-to-equity ratio of 0.10. The stock has a market cap of $55.74 billion, a P/E ratio of 38.15, a P/E/G ratio of 5.15 and a beta of 1.01.

Edwards Lifesciences (NYSE:EW – Get Rating) last announced its quarterly earnings results on Wednesday, April 26th. The medical research company reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.01. Edwards Lifesciences had a net margin of 27.07% and a return on equity of 25.81%. The business had revenue of $1.46 billion for the quarter, compared to analysts’ expectations of $1.39 billion. During the same quarter last year, the firm earned $0.60 EPS. The firm’s revenue for the quarter was up 8.8% compared to the same quarter last year.

Insider Activity at Edwards Lifesciences

In other news, VP Catherine M. Szyman sold 5,000 shares of the business’s stock in a transaction dated Tuesday, June 13th. The shares were sold at an average price of $85.81, for a total value of $429,050.00. Following the completion of the sale, the vice president now owns 35,056 shares in the company, valued at approximately $3,008,155.36. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Edwards Lifesciences news, VP Catherine M. Szyman sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 13th. The shares were sold at an average price of $85.81, for a total transaction of $429,050.00. Following the sale, the vice president now owns 35,056 shares of the company’s stock, valued at approximately $3,008,155.36. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Donald E. Bobo, Jr. sold 6,725 shares of Edwards Lifesciences stock in a transaction that occurred on Thursday, April 6th. The shares were sold at an average price of $83.09, for a total transaction of $558,780.25. Following the sale, the vice president now owns 62,824 shares of the company’s stock, valued at $5,220,046.16. The disclosure for this sale can be found here. Insiders sold 201,151 shares of company stock worth $17,523,816 in the last 90 days. 1.29% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Edwards Lifesciences

Several large investors have recently made changes to their positions in EW. Moneta Group Investment Advisors LLC raised its position in shares of Edwards Lifesciences by 104,971.3% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 15,399,249 shares of the medical research company’s stock valued at $1,148,938,000 after buying an additional 15,384,593 shares during the period. Norges Bank purchased a new position in Edwards Lifesciences in the fourth quarter valued at approximately $658,390,000. Alliancebernstein L.P. grew its position in shares of Edwards Lifesciences by 27.5% during the fourth quarter. Alliancebernstein L.P. now owns 21,874,280 shares of the medical research company’s stock worth $1,632,040,000 after acquiring an additional 4,712,819 shares during the last quarter. Marshall Wace LLP lifted its holdings in shares of Edwards Lifesciences by 167.5% during the third quarter. Marshall Wace LLP now owns 3,512,312 shares of the medical research company’s stock worth $290,225,000 after purchasing an additional 2,199,410 shares during the period. Finally, Two Sigma Advisers LP lifted its holdings in Edwards Lifesciences by 161.5% in the fourth quarter. Two Sigma Advisers LP now owns 3,503,803 shares of the medical research company’s stock valued at $261,419,000 after acquiring an additional 2,164,100 shares during the period. 80.35% of the stock is currently owned by institutional investors and hedge funds.

About Edwards Lifesciences

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Edwards Lifesciences Corp. engages in patient-focused medical innovations for heart disease and critical care monitoring. Its products are categorized into four main areas: Transcatheter Aortic Valve Replacement, Transcatheter Mitral and Tricuspid Therapies, Surgical Structural Heart, and Critical Care.