Jefferies Group Weighs in on Edwards Lifesciences Corporation’s FY2017 Earnings (NYSE:EW)

Edwards Lifesciences Corporation (NYSE:EW) – Equities research analysts at Jefferies Group cut their FY2017 earnings per share estimates for Edwards Lifesciences Corporation in a research note issued on Tuesday, according to Zacks Investment Research. Jefferies Group analyst R. Denhoy now anticipates that the medical research company will post earnings per share of $3.75 for the year, down from their previous forecast of $3.76. Jefferies Group has a “Buy” rating and a $132.00 price objective on the stock.

Edwards Lifesciences Corporation (NYSE:EW) last issued its earnings results on Tuesday, October 24th. The medical research company reported $0.84 earnings per share for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.02). The company 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 22.47% and a return on equity of 27.22%. The business’s quarterly revenue was up 11.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.68 EPS.

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Several other research firms also recently issued reports on EW. Zacks Investment Research downgraded shares of Edwards Lifesciences Corporation from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 17th. SunTrust Banks, Inc. raised their price target on shares of Edwards Lifesciences Corporation to $14.00 and gave the company a “buy” rating in a research note on Monday, July 17th. BidaskClub downgraded shares of Edwards Lifesciences Corporation from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 19th. Cowen and Company reissued an “outperform” rating and set a $135.00 target price (up previously from $130.00) on shares of Edwards Lifesciences Corporation in a research note on Thursday, July 27th. Finally, Barclays PLC lifted their target price on shares of Edwards Lifesciences Corporation from $108.00 to $120.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 27th. Seven equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $125.17.

Edwards Lifesciences Corporation (NYSE EW) traded down $0.93 during mid-day trading on Friday, hitting $103.85. 1,728,200 shares of the stock traded hands, compared to its average volume of 1,650,290. The company has a market capitalization of $22,173.53, a P/E ratio of 29.02, a P/E/G ratio of 1.88 and a beta of 0.46. Edwards Lifesciences Corporation has a 12-month low of $81.12 and a 12-month high of $121.45. The company has a debt-to-equity ratio of 0.33, a current ratio of 3.49 and a quick ratio of 2.76.

Institutional investors have recently added to or reduced their stakes in the stock. Victory Capital Management Inc. boosted its holdings in Edwards Lifesciences Corporation by 4.6% during the third quarter. Victory Capital Management Inc. now owns 557,773 shares of the medical research company’s stock worth $60,969,000 after purchasing an additional 24,399 shares during the last quarter. Korea Investment CORP raised its position in Edwards Lifesciences Corporation by 144.5% in the third quarter. Korea Investment CORP now owns 355,683 shares of the medical research company’s stock worth $38,880,000 after acquiring an additional 210,200 shares during the period. Raymond James Financial Services Advisors Inc. raised its position in Edwards Lifesciences Corporation by 53.3% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 11,991 shares of the medical research company’s stock worth $1,418,000 after acquiring an additional 4,170 shares during the period. Westpac Banking Corp raised its position in Edwards Lifesciences Corporation by 13.5% in the second quarter. Westpac Banking Corp now owns 14,214 shares of the medical research company’s stock worth $1,681,000 after acquiring an additional 1,691 shares during the period. Finally, Principal Financial Group Inc. raised its position in Edwards Lifesciences Corporation by 41.9% in the second quarter. Principal Financial Group Inc. now owns 465,885 shares of the medical research company’s stock worth $55,086,000 after acquiring an additional 137,643 shares during the period. Institutional investors and hedge funds own 82.32% of the company’s stock.

In related news, CEO Michael A. Mussallem sold 32,900 shares of the business’s stock in a transaction dated Thursday, September 7th. The shares were sold at an average price of $112.45, for a total transaction of $3,699,605.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Larry L. Wood sold 18,960 shares of the business’s stock in a transaction dated Wednesday, August 30th. The stock was sold at an average price of $111.81, for a total transaction of $2,119,917.60. The disclosure for this sale can be found here. Insiders have sold 138,580 shares of company stock valued at $15,039,844 over the last quarter. Corporate insiders own 2.13% of the company’s stock.

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

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