Zacks: Brokerages Anticipate Edwards Lifesciences Corp (EW) Will Announce Quarterly Sales of $1.05 Billion

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Wall Street analysts predict that Edwards Lifesciences Corp (NYSE:EW) will report $1.05 billion in sales for the current fiscal quarter, Zacks reports. Nine analysts have provided estimates for Edwards Lifesciences’ earnings, with the highest sales estimate coming in at $1.06 billion and the lowest estimate coming in at $1.03 billion. Edwards Lifesciences posted sales of $943.70 million during the same quarter last year, which would indicate a positive year over year growth rate of 11.3%. The business is expected to announce its next quarterly earnings results on Thursday, July 25th.

On average, analysts expect that Edwards Lifesciences will report full-year sales of $4.16 billion for the current fiscal year, with estimates ranging from $4.06 billion to $4.26 billion. For the next fiscal year, analysts expect that the firm will report sales of $4.58 billion, with estimates ranging from $4.38 billion to $4.77 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that follow Edwards Lifesciences.

Edwards Lifesciences (NYSE:EW) last posted its earnings results on Tuesday, April 23rd. The medical research company reported $1.32 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.23 by $0.09. The company had revenue of $993.00 million during 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 revenue was up 11.0% compared to the same quarter last year. During the same period in the prior year, the company earned $1.22 earnings per share.

EW has been the subject of several research reports. Cowen reiterated a “buy” rating on shares of Edwards Lifesciences in a research note on Monday, February 4th. Stifel Nicolaus reissued a “buy” rating and issued a $190.00 price target on shares of Edwards Lifesciences in a report on Sunday, February 3rd. Bank of America raised shares of Edwards Lifesciences from a “neutral” rating to a “buy” rating and raised their price target for the company from $180.00 to $190.00 in a report on Friday, January 18th. Canaccord Genuity reissued a “buy” rating and issued a $215.00 price target (up previously from $190.00) on shares of Edwards Lifesciences in a report on Monday, March 18th. Finally, Jefferies Financial Group raised their price target on shares of Edwards Lifesciences from $195.00 to $210.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and thirteen have given a buy rating to the company’s stock. Edwards Lifesciences presently has an average rating of “Hold” and a consensus target price of $187.00.

Shares of NYSE:EW traded down $4.02 during trading on Tuesday, hitting $173.12. 1,068,017 shares of the company traded hands, compared to its average volume of 1,286,657. The firm has a market capitalization of $36.96 billion, a PE ratio of 36.83, a price-to-earnings-growth ratio of 2.27 and a beta of 0.85. Edwards Lifesciences has a one year low of $134.38 and a one year high of $197.86. The company has a current ratio of 3.66, a quick ratio of 2.69 and a debt-to-equity ratio of 0.17.

In other news, VP Larry L. Wood sold 6,716 shares of Edwards Lifesciences stock in a transaction on Monday, April 1st. The shares were sold at an average price of $192.34, for a total transaction of $1,291,755.44. Following the transaction, the vice president now directly owns 122,495 shares of the company’s stock, valued at $23,560,688.30. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Catherine M. Szyman sold 1,474 shares of Edwards Lifesciences stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $177.92, for a total transaction of $262,254.08. Following the transaction, the vice president now directly owns 21,396 shares in the company, valued at $3,806,776.32. The disclosure for this sale can be found here. Insiders have sold a total of 148,411 shares of company stock valued at $26,189,586 in the last ninety days. Company insiders own 1.63% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Executive Wealth Management LLC bought a new position in shares of Edwards Lifesciences during the fourth quarter worth $25,000. FTB Advisors Inc. bought a new stake in Edwards Lifesciences in the 1st quarter valued at $25,000. Sontag Advisory LLC bought a new stake in Edwards Lifesciences in the 4th quarter valued at $26,000. Lindbrook Capital LLC bought a new stake in Edwards Lifesciences in the 4th quarter valued at $27,000. Finally, Capital Financial Planning LLC bought a new stake in Edwards Lifesciences in the 4th quarter valued at $28,000. 84.43% of the stock is currently owned by institutional investors.

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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Earnings History and Estimates for Edwards Lifesciences (NYSE:EW)

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