Edwards Lifesciences (EW) Issues FY18 Earnings Guidance
Edwards Lifesciences (NYSE:EW) updated its FY18 earnings guidance on Thursday. The company provided EPS guidance of $4.10-4.30 for the period, compared to the Thomson Reuters consensus EPS estimate of $4.15. The company issued revenue guidance of $3.5-3.9 billion, compared to the consensus revenue estimate of $3.71 billion.Edwards Lifesciences also updated its FY17 guidance to $3.65-3.85 EPS.
Several brokerages have recently commented on EW. Morgan Stanley decreased their price target on Edwards Lifesciences from $133.00 to $120.00 and set an overweight rating on the stock in a research note on Thursday, October 26th. William Blair reaffirmed an outperform rating on shares of Edwards Lifesciences in a research note on Monday, August 28th. Royal Bank Of Canada reaffirmed a buy rating and issued a $130.00 target price on shares of Edwards Lifesciences in a research note on Friday, September 1st. Canaccord Genuity reaffirmed a buy rating and issued a $155.00 target price on shares of Edwards Lifesciences in a research note on Sunday, October 8th. Finally, Barclays reaffirmed an equal weight rating and issued a $120.00 target price on shares of Edwards Lifesciences in a research note on Saturday, September 30th. Seven analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. Edwards Lifesciences currently has an average rating of Buy and a consensus price target of $125.53.
Shares of Edwards Lifesciences (EW) traded up $0.31 during trading on Thursday, hitting $113.36. The company’s stock had a trading volume of 1,530,300 shares, compared to its average volume of 1,641,257. Edwards Lifesciences has a one year low of $81.90 and a one year high of $121.45. The stock has a market cap of $23,923.63, a price-to-earnings ratio of 31.32, a PEG ratio of 2.02 and a beta of 0.51. The company has a current ratio of 3.49, a quick ratio of 2.76 and a debt-to-equity ratio of 0.33.
Edwards Lifesciences declared that its Board of Directors has authorized a share repurchase program on Thursday, December 7th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the medical research company to buy shares of its stock through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its stock is undervalued.
In other news, CEO Michael A. Mussallem sold 32,900 shares of the company’s stock in a transaction on Monday, October 30th. The stock was sold at an average price of $100.93, for a total transaction of $3,320,597.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Larry L. Wood sold 18,960 shares of the company’s stock in a transaction on Friday, September 15th. The stock was sold at an average price of $112.58, for a total value of $2,134,516.80. The disclosure for this sale can be found here. In the last three months, insiders have sold 139,580 shares of company stock worth $14,849,205. Corporate insiders own 2.13% of the company’s stock.
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Edwards Lifesciences 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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