Edwards Lifesciences Corporation (EW) Issues Earnings Results, Misses Expectations By $0.02 EPS
Edwards Lifesciences Corporation (NYSE:EW) issued its quarterly earnings data on Tuesday. The medical research company reported $0.84 EPS for the quarter, missing the Zacks’ consensus estimate of $0.86 by ($0.02), RTT News reports. The business had revenue of $821.50 million during the quarter, compared to analyst estimates of $833.85 million. Edwards Lifesciences Corporation had a net margin of 22.16% and a return on equity of 27.17%. Edwards Lifesciences Corporation’s revenue was up 11.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.68 earnings per share. Edwards Lifesciences Corporation updated its Q4 guidance to $0.84-0.94 EPS.
Edwards Lifesciences Corporation (NYSE:EW) traded up 0.12% on Tuesday, reaching $114.25. 2,326,660 shares of the company traded hands. The firm has a 50 day moving average price of $111.17 and a 200 day moving average price of $112.34. The stock has a market capitalization of $24.12 billion, a price-to-earnings ratio of 34.65 and a beta of 0.62. Edwards Lifesciences Corporation has a 52-week low of $81.12 and a 52-week high of $121.45.
In related news, CEO Michael A. Mussallem sold 32,900 shares of the business’s stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $114.80, for a total value of $3,776,920.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Catherine M. Szyman sold 4,681 shares of the business’s stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $115.78, for a total value of $541,966.18. The disclosure for this sale can be found here. In the last three months, insiders sold 201,161 shares of company stock valued at $22,826,072. 2.13% of the stock is currently owned by company insiders.
A number of brokerages recently commented on EW. Canaccord Genuity reissued a “buy” rating and issued a $150.00 price objective on shares of Edwards Lifesciences Corporation in a research note on Wednesday, June 28th. Cowen and Company reaffirmed a “buy” rating and set a $135.00 price target on shares of Edwards Lifesciences Corporation in a research note on Thursday, October 12th. BidaskClub cut shares of Edwards Lifesciences Corporation from a “buy” rating to a “hold” rating in a research note on Friday, August 25th. Zacks Investment Research cut shares of Edwards Lifesciences Corporation from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 17th. Finally, Bank of America Corporation raised their price target on shares of Edwards Lifesciences Corporation from $140.00 to $150.00 and gave the stock a “buy” rating in a research note on Thursday, July 27th. Seven equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Edwards Lifesciences Corporation presently has an average rating of “Buy” and an average price target of $120.75.
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Edwards Lifesciences Corporation 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.
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