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Based in Irvine, California, Edwards Lifesciences Corporation (EW) is a global leader in patient-focused medical innovations for structural heart disease and critical care monitoring. With a market cap of $55.34 billion, Edwards Lifesciences is renowned for its cutting-edge technologies, including heart valve therapies and hemodynamic monitoring systems, designed to enhance patient outcomes. The company operates worldwide, emphasizing innovation, quality, and patient care. EW is set to announce its fiscal Q2 earnings results after the market closes on Wednesday, Jul. 24.
Ahead of the event, analysts expect EW to report a profit of $0.70 per share, up 6.1% from $0.66 per share in the year-ago quarter. The company has consistently beaten or matched Wall Street’s EPS estimates in its last four quarterly reports.
Edwards Lifesciences' adjusted earnings of $0.66 per share for the last reported quarter surpassed the consensus estimate by 3.1%. The company's performance was driven by robust sales growth in the TAVR and TMTT segments despite foreign exchange-related margin contractions.
For fiscal 2024, analysts expect EW to report EPS of $2.77, up 10.4% from $2.51 in fiscal 2023.
EW stock is up 20.5% on a YTD basis, outperforming the broader S&P 500 Index's ($SPX) 16.8% gains and the iShares U.S. Medical Devices ETF’s (IHI) 2.6% returns over the same time frame.
Edwards Lifesciences reported Q1 earnings on Apr. 25, beating Wall Street’s revenue and EPS expectations. The stock declined marginally on the earnings release day. The company posted revenue of $1.6 billion, exceeding the anticipated $1.58 billion. For the full year, the company forecasts earnings per share between $2.70 and $2.80, with revenue between $6.3 billion and $6.6 billion.
The consensus opinion on EW stock is optimistic, with an overall “Moderate Buy” rating. Out of 25 analysts covering the stock, 14 advise a “Strong Buy” rating, one recommends a “Moderate Buy,” eight suggest a “Hold,” and two recommend a “Strong Sell.” This configuration is slightly more bullish than three months ago when the stock had 12 “Strong Buy” ratings.
EW's average analyst price target is $95.55, indicating a potential upside of 4% from the current levels.
On the date of publication, Rashmi Kumari did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
