What is Leerink Partnrs’ Forecast for EW FY2024 Earnings?

Edwards Lifesciences Co. (NYSE:EW) – Investment analysts at Leerink Partnrs lifted their FY2024 earnings per share (EPS) estimates for shares of Edwards Lifesciences in a report released on Monday, November 25th. Leerink Partnrs analyst M. Kratky now forecasts that the medical research company will earn $2.58 per share for the year, up from their previous forecast of $2.57. The consensus estimate for Edwards Lifesciences’ current full-year earnings is $2.57 per share. Leerink Partnrs also issued estimates for Edwards Lifesciences’ Q1 2025 earnings at $0.57 EPS, Q2 2025 earnings at $0.61 EPS, Q3 2025 earnings at $0.62 EPS, Q4 2025 earnings at $0.66 EPS, FY2025 earnings at $2.46 EPS and FY2027 earnings at $3.33 EPS.

Several other research firms have also recently issued reports on EW. Morgan Stanley restated an “equal weight” rating and set a $70.00 price objective on shares of Edwards Lifesciences in a report on Friday, October 11th. Jefferies Financial Group downgraded Edwards Lifesciences from a “buy” rating to a “hold” rating and decreased their price target for the stock from $85.00 to $70.00 in a research note on Wednesday, September 18th. JPMorgan Chase & Co. lifted their price target on Edwards Lifesciences from $72.00 to $78.00 and gave the company a “neutral” rating in a report on Friday, October 25th. Royal Bank of Canada boosted their target price on Edwards Lifesciences from $75.00 to $80.00 and gave the stock an “outperform” rating in a report on Wednesday. Finally, Canaccord Genuity Group dropped their price target on Edwards Lifesciences from $66.00 to $63.00 and set a “hold” rating on the stock in a report on Friday, October 25th. Seventeen equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $75.90.

Edwards Lifesciences Stock Performance

EW opened at $72.06 on Wednesday. The stock has a market cap of $42.50 billion, a P/E ratio of 10.40, a P/E/G ratio of 4.01 and a beta of 1.12. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.46 and a quick ratio of 2.89. The stock’s 50 day simple moving average is $67.92 and its 200 day simple moving average is $75.35. Edwards Lifesciences has a 1-year low of $58.93 and a 1-year high of $96.12.

Edwards Lifesciences (NYSE:EW) last issued its earnings results on Thursday, October 24th. The medical research company reported $0.67 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.67. The business had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.57 billion. Edwards Lifesciences had a return on equity of 20.76% and a net margin of 70.82%. The company’s revenue for the quarter was up 8.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.59 EPS.

Institutional Trading of Edwards Lifesciences

Several hedge funds have recently modified their holdings of the company. Park Avenue Securities LLC increased its holdings in shares of Edwards Lifesciences by 0.5% during the second quarter. Park Avenue Securities LLC now owns 23,484 shares of the medical research company’s stock worth $2,169,000 after buying an additional 108 shares in the last quarter. City State Bank increased its holdings in shares of Edwards Lifesciences by 16.5% in the second quarter. City State Bank now owns 917 shares of the medical research company’s stock valued at $85,000 after purchasing an additional 130 shares in the last quarter. Stableford Capital II LLC increased its holdings in shares of Edwards Lifesciences by 2.7% in the second quarter. Stableford Capital II LLC now owns 6,104 shares of the medical research company’s stock valued at $533,000 after purchasing an additional 159 shares in the last quarter. Purus Wealth Management LLC increased its holdings in shares of Edwards Lifesciences by 5.2% in the second quarter. Purus Wealth Management LLC now owns 3,212 shares of the medical research company’s stock valued at $297,000 after purchasing an additional 160 shares in the last quarter. Finally, Busey Bank increased its holdings in shares of Edwards Lifesciences by 1.9% in the second quarter. Busey Bank now owns 8,838 shares of the medical research company’s stock valued at $816,000 after purchasing an additional 165 shares in the last quarter. Institutional investors and hedge funds own 79.46% of the company’s stock.

Insider Activity at Edwards Lifesciences

In other Edwards Lifesciences news, VP Donald E. Bobo, Jr. sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $65.57, for a total transaction of $327,850.00. Following the completion of the transaction, the vice president now owns 46,936 shares in the company, valued at $3,077,593.52. This trade represents a 9.63 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Larry L. Wood sold 25,000 shares of the firm’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $65.91, for a total transaction of $1,647,750.00. Following the transaction, the insider now owns 198,526 shares of the company’s stock, valued at approximately $13,084,848.66. This represents a 11.18 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 40,000 shares of company stock worth $2,657,000. Company insiders own 1.27% of the company’s stock.

About Edwards Lifesciences

Edwards Lifesciences Corporation provides products and technologies for structural heart disease and critical care monitoring in the United States, Europe, Japan, and internationally. It offers transcatheter heart valve replacement products for the minimally invasive replacement of aortic heart valves under the Edwards SAPIEN family of valves system; and transcatheter heart valve repair and replacement products to treat mitral and tricuspid valve diseases under the PASCAL PRECISION and Cardioband names.