Edwards Lifesciences Corporation (NYSE:EW) – Equities research analysts at SunTrust Banks cut their FY2017 earnings per share estimates for Edwards Lifesciences Corporation in a research note issued on Tuesday, according to Zacks Investment Research. SunTrust Banks analyst B. Nudell now anticipates that the medical research company will post earnings per share of $3.76 for the year, down from their previous forecast of $3.80. SunTrust Banks has a “Buy” rating and a $124.00 price objective on the stock. SunTrust Banks also issued estimates for Edwards Lifesciences Corporation’s Q4 2017 earnings at $0.91 EPS, Q1 2018 earnings at $1.09 EPS, Q3 2018 earnings at $0.93 EPS, FY2018 earnings at $4.06 EPS, FY2019 earnings at $4.51 EPS, FY2020 earnings at $5.03 EPS and FY2021 earnings at $5.52 EPS.
Edwards Lifesciences Corporation (NYSE:EW) last announced its earnings results on Tuesday, October 24th. The medical research company reported $0.84 earnings per share for the quarter, missing the Zacks’ consensus estimate 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 return on equity of 27.22% and a net margin of 22.47%. Edwards Lifesciences Corporation’s revenue for the quarter 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.
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EW has been the subject of a number of other reports. Zacks Investment Research downgraded shares of Edwards Lifesciences Corporation from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 26th. BidaskClub downgraded shares of Edwards Lifesciences Corporation from a “buy” rating to a “hold” rating in a research note on Friday, August 25th. Cowen and Company restated a “buy” rating and set a $135.00 price objective on shares of Edwards Lifesciences Corporation in a research note on Thursday, October 12th. BMO Capital Markets restated a “buy” rating and set a $132.00 price objective on shares of Edwards Lifesciences Corporation in a research note on Friday, September 1st. Finally, Deutsche Bank AG reduced their price objective on shares of Edwards Lifesciences Corporation from $122.00 to $115.00 and set a “hold” rating for the company in a research note on Thursday, October 26th. Seven analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $125.17.
Shares of Edwards Lifesciences Corporation (EW) traded down $0.93 during midday trading on Friday, reaching $103.85. 1,728,200 shares of the company were exchanged, compared to its average volume of 1,650,290. 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 quick ratio of 2.76 and a current ratio of 3.49. The firm has a market cap of $22,173.53, a price-to-earnings ratio of 29.02, a PEG ratio of 1.88 and a beta of 0.46.
Several hedge funds and other institutional investors have recently bought and sold shares of EW. Bank of New York Mellon Corp boosted its position in shares of Edwards Lifesciences Corporation by 161.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 5,304,536 shares of the medical research company’s stock worth $627,207,000 after acquiring an additional 3,277,726 shares in the last quarter. Egerton Capital UK LLP acquired a new stake in shares of Edwards Lifesciences Corporation during the 2nd quarter worth approximately $217,805,000. Koch Industries Inc. boosted its position in shares of Edwards Lifesciences Corporation by 28,363.1% during the 2nd quarter. Koch Industries Inc. now owns 1,397,254 shares of the medical research company’s stock worth $1,386,000 after acquiring an additional 1,392,345 shares in the last quarter. Wedgewood Partners Inc. acquired a new stake in shares of Edwards Lifesciences Corporation during the 1st quarter worth approximately $106,963,000. Finally, Artisan Partners Limited Partnership boosted its position in shares of Edwards Lifesciences Corporation by 90.6% during the 2nd quarter. Artisan Partners Limited Partnership now owns 1,278,532 shares of the medical research company’s stock worth $151,174,000 after acquiring an additional 607,784 shares in the last quarter. Institutional investors and hedge funds own 82.32% of the company’s stock.
In other Edwards Lifesciences Corporation news, CEO Michael A. Mussallem sold 32,900 shares of the stock in a transaction that occurred on Monday, October 30th. The shares were sold at an average price of $100.93, for a total transaction of $3,320,597.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Larry L. Wood sold 18,960 shares of the stock in a transaction that occurred on 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. In the last 90 days, insiders have sold 138,580 shares of company stock worth $15,039,844. Company insiders own 2.13% of the company’s stock.
About Edwards Lifesciences Corporation
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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