Edwards Lifesciences (NYSE:EW) Posts Earnings Results

Edwards Lifesciences (NYSE:EW) issued its quarterly earnings data on Thursday. The medical research company reported $0.67 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.67, Briefing.com reports. Edwards Lifesciences had a net margin of 24.55% and a return on equity of 22.35%. The firm had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.57 billion. During the same period last year, the company earned $0.59 earnings per share. The business’s revenue was up 8.9% on a year-over-year basis.

Edwards Lifesciences Price Performance

EW traded down $1.28 during midday trading on Friday, hitting $69.07. 6,192,231 shares of the company traded hands, compared to its average volume of 4,585,654. The business has a 50 day simple moving average of $68.08 and a two-hundred day simple moving average of $78.65. Edwards Lifesciences has a 52-week low of $58.93 and a 52-week high of $96.12. The company has a market capitalization of $41.62 billion, a price-to-earnings ratio of 29.92, a PEG ratio of 2.83 and a beta of 1.13. The company has a current ratio of 3.71, a quick ratio of 2.87 and a debt-to-equity ratio of 0.08.

Insiders Place Their Bets

In related news, VP Daveen Chopra sold 1,250 shares of the firm’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $69.95, for a total transaction of $87,437.50. Following the completion of the transaction, the vice president now directly owns 29,333 shares in the company, valued at $2,051,843.35. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, VP Donald E. Bobo, Jr. sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $66.77, for a total value of $333,850.00. Following the sale, the vice president now owns 46,936 shares of the company’s stock, valued at approximately $3,133,916.72. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Daveen Chopra sold 1,250 shares of Edwards Lifesciences stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $69.95, for a total value of $87,437.50. Following the completion of the sale, the vice president now owns 29,333 shares of the company’s stock, valued at $2,051,843.35. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 16,250 shares of company stock valued at $1,099,238 in the last ninety days. 1.29% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Jefferies Financial Group downgraded shares of Edwards Lifesciences from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $85.00 to $70.00 in a research report on Wednesday, September 18th. Royal Bank of Canada decreased their price target on Edwards Lifesciences from $85.00 to $75.00 and set an “outperform” rating for the company in a research report on Tuesday, October 8th. Deutsche Bank Aktiengesellschaft cut their price objective on Edwards Lifesciences from $103.00 to $85.00 and set a “buy” rating on the stock in a research report on Thursday, July 25th. Oppenheimer reissued an “outperform” rating and issued a $90.00 price target on shares of Edwards Lifesciences in a report on Thursday, September 12th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Edwards Lifesciences from $72.00 to $78.00 and gave the stock a “neutral” rating in a report on Friday. Fifteen equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $75.67.

About Edwards Lifesciences

Edwards Lifesciences Corporation provides products and technologies for structural heart disease and critical care monitoring in the United States, Europe, Japan, and internationally. It offers transcatheter heart valve replacement products for the minimally invasive replacement of aortic heart valves under the Edwards SAPIEN family of valves system; and transcatheter heart valve repair and replacement products to treat mitral and tricuspid valve diseases under the PASCAL PRECISION and Cardioband names.