Edwards Lifesciences (NYSE:EW) updated its third quarter 2019 earnings guidance on Tuesday. The company provided EPS guidance of $1.13-1.23 for the period, compared to the Thomson Reuters consensus EPS estimate of $1.25. The company issued revenue guidance of $1.02-1.06 billion, compared to the consensus revenue estimate of $1.02 billion.Edwards Lifesciences also updated its FY 2019 guidance to $5.20-5.40 EPS.
A number of brokerages have commented on EW. Zacks Investment Research cut CGI from a buy rating to a hold rating in a report on Wednesday, June 19th. Credit Suisse Group raised their price objective on JPMorgan Chase & Co. from $128.00 to $132.00 and gave the stock an outperform rating in a report on Monday, April 15th. JPMorgan Chase & Co. raised their price objective on Edwards Lifesciences from $175.00 to $190.00 and gave the stock a neutral rating in a report on Wednesday, March 27th. They noted that the move was a valuation call. Morgan Stanley decreased their price objective on Neon Therapeutics from $19.00 to $13.00 and set an overweight rating on the stock in a report on Tuesday, July 16th. Finally, Barclays restated a sell rating on shares of Deutsche Bank in a report on Monday, March 25th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and fourteen have given a buy rating to the company. Edwards Lifesciences presently has a consensus rating of Buy and a consensus target price of $188.75.
Shares of EW traded up $1.45 during trading hours on Tuesday, hitting $195.46. The stock had a trading volume of 1,141,571 shares, compared to its average volume of 1,305,756. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.69 and a current ratio of 3.66. The company has a market capitalization of $40.52 billion, a price-to-earnings ratio of 41.59, a P/E/G ratio of 2.48 and a beta of 0.85. The stock has a fifty day simple moving average of $187.46. Edwards Lifesciences has a 12-month low of $134.53 and a 12-month high of $197.86.
Edwards Lifesciences (NYSE:EW) last issued its earnings results on Tuesday, April 23rd. The medical research company reported $1.32 earnings per share for the quarter, topping the consensus estimate of $1.23 by $0.09. The business had revenue of $993.00 million for the quarter, compared to analyst estimates of $989.87 million. Edwards Lifesciences had a return on equity of 31.16% and a net margin of 20.03%. The business’s quarterly revenue was up 11.0% on a year-over-year basis. During the same period last year, the company posted $1.22 EPS. As a group, sell-side analysts expect that Edwards Lifesciences will post 5.29 EPS for the current year.
In related news, VP Donald E. Bobo, Jr. sold 300 shares of the stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $178.54, for a total value of $53,562.00. Following the transaction, the vice president now directly owns 19,415 shares of the company’s stock, valued at approximately $3,466,354.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Donald E. Bobo, Jr. sold 3,000 shares of the stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $169.60, for a total value of $508,800.00. Following the completion of the transaction, the vice president now directly owns 20,674 shares in the company, valued at $3,506,310.40. The disclosure for this sale can be found here. Insiders sold a total of 163,895 shares of company stock worth $29,555,839 over the last ninety days. Corporate insiders own 1.63% of the company’s stock.
Edwards Lifesciences Company Profile
Edwards Lifesciences Corporation provides products and technologies for structural heart disease and critical care monitoring in the United States and internationally. It offers transcatheter heart valve therapy products comprising transcatheter aortic valve replacement, and transcatheter mitral and tricuspid therapies for the nonsurgical replacement of heart valves.
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