Edwards Lifesciences (NYSE:EW) updated its FY17 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $3.65-3.85 for the period, compared to the Thomson Reuters consensus estimate of $3.75. The company issued revenue guidance of $3.2-3.4 billion range, compared to the consensus revenue estimate of $3.39 billion.Edwards Lifesciences also updated its FY18 guidance to $4.10-4.30 EPS.
A number of brokerages have recently commented on EW. Morgan Stanley cut 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. Royal Bank of Canada reissued a buy rating and set a $130.00 price target on shares of Edwards Lifesciences in a research note on Friday, September 1st. BMO Capital Markets reissued a buy rating and set a $137.00 price target on shares of Edwards Lifesciences in a research note on Friday, December 8th. Canaccord Genuity reissued a buy rating and set a $155.00 price target on shares of Edwards Lifesciences in a research note on Sunday, October 8th. Finally, Barclays restated an equal weight rating and set a $120.00 price objective on shares of Edwards Lifesciences in a research report on Saturday, September 30th. Six analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of Buy and a consensus price target of $126.43.
Shares of Edwards Lifesciences (NYSE EW) traded down $1.84 on Friday, hitting $112.71. The stock had a trading volume of 877,668 shares, compared to its average volume of 1,431,740. The company has a market capitalization of $24,241.06, a P/E ratio of 32.76, a price-to-earnings-growth ratio of 2.05 and a beta of 0.51. The company has a quick ratio of 2.76, a current ratio of 3.49 and a debt-to-equity ratio of 0.33. Edwards Lifesciences has a 52 week low of $86.55 and a 52 week high of $121.45.
Edwards Lifesciences announced that its Board of Directors has authorized a share buyback program on Thursday, December 7th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the medical research company to repurchase shares of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board believes its stock is undervalued.
In other Edwards Lifesciences news, VP Larry L. Wood sold 18,960 shares of Edwards Lifesciences stock in a transaction that occurred on Monday, October 16th. The stock was sold at an average price of $108.54, for a total value of $2,057,918.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Donald E. Bobo, Jr. sold 5,300 shares of Edwards Lifesciences stock in a transaction that occurred on Monday, October 30th. The stock was sold at an average price of $101.12, for a total value of $535,936.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 172,380 shares of company stock valued at $18,680,887. 2.13% of the stock is currently owned by corporate insiders.
TRADEMARK VIOLATION NOTICE: This article was originally posted by Week Herald and is the property of of Week Herald. If you are reading this article on another domain, it was stolen and republished in violation of United States and international copyright and trademark law. The original version of this article can be read at https://weekherald.com/2017/12/30/edwards-lifesciences-ew-releases-fy17-earnings-guidance.html.
About Edwards Lifesciences
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.
Receive News & Ratings for Edwards Lifesciences Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Edwards Lifesciences and related companies with MarketBeat.com's FREE daily email newsletter.