In the last trading session, 4.05 million Edwards Lifesciences Corporation (NYSE:EW) shares changed hands as the company’s beta touched 1.04. With the company’s per share price at $72.94 changed hands at -$0.26 or -0.36% during last session, the market valuation stood at $44.84B. EW’s last price was a discount, traded about -30.07% off its 52-week high of $94.87. The share price had its 52-week low at $67.13, which suggests the last value was 7.97% up since then. When we look at Edwards Lifesciences Corporation’s average trading volume, we note the 10-day average is 3.53 million shares, with the 3-month average coming to 3.21 million.
Analysts gave the Edwards Lifesciences Corporation (EW) stock a consensus recommendation rating of an Overweight, calculated at a mean rating of 2.40. If we narrow down to specifics, the data shows that 0 out of 30 analysts rate the stock as a Sell, with a further 3 assigning it an Overweight rating. Of the remaining, 13 recommended EW as a Hold, 13 felt it is a Buy and 1 rated the stock as Underweight. Edwards Lifesciences Corporation’s EPS for the current quarter is expected to be $0.59.
Edwards Lifesciences Corporation (NYSE:EW) trade information
Instantly EW was in red as seen at the end of in last trading. With action -2.58%, the performance over the past five days has been red. The drop to weekly highs of 74.94 on Monday, 09/18/23 subtracted -0.36% to the stock’s daily price. The company’s shares are showing year-to-date downside of -2.24%, with the 5-day performance at -2.58% in the red. However, in the 30-day time frame, Edwards Lifesciences Corporation (NYSE:EW) is -5.06% down. Looking at the short shares, we see there were 10.75 million shares sold at short interest cover period of 3.21 days.
The consensus price target for the stock as assigned by Wall Street analysts is $96.88, meaning bulls need an upside of 24.71% from its current market value. According to analyst projections, EW’s forecast low is $75.00 with $110.00 as the target high. To hit the forecast high, the stock’s price needs a -50.81% plunge from its current level, while the stock would need to soar -2.82% for it to hit the projected low.
Edwards Lifesciences Corporation (EW) estimates and forecasts
Data shows that the Edwards Lifesciences Corporation share is performing relatively much not better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -9.66% over the past 6 months, a 2.82% in annual growth rate that is considerably lower than the industry average of 9.00%. Moreover, analysts have looked to lower expectations by upgrading its fiscal year 2023 revenue estimates. The rating firms predict current quarter revenue for Edwards Lifesciences Corporation will fall -3.30%, while the growth in revenue is estimated to hit 6.30% for the next quarter. Year-over-year growth is forecast to reach 11.50% up from the last financial year.
Consensus estimates given by 20 financial analysts project the company’s revenue in the current quarter to hit an average of $1.48 billion. 20 analysts are of the opinion that Edwards Lifesciences Corporation’s revenue for the quarter ending Dec 2023 will be $1.54 billion. The company’s revenue for the corresponding quarters a year ago was $1.32 billion and $1.35 billion respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 12.20%. The estimates for the next quarter sales put growth at 13.90%.
Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of 12.50%. The 2023 estimates are for Edwards Lifesciences Corporation earnings to increase by 2.40%, but the outlook for the next 5-year period is at 9.67% per year.
Edwards Lifesciences Corporation is expected to release its next quarterly earnings report between October 25 and October 30.
Edwards Lifesciences Corporation (NYSE:EW)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 0.85% of Edwards Lifesciences Corporation shares while 85.59% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 86.33%. There are 85.59% institutions holding the Edwards Lifesciences Corporation stock share, with Vanguard Group Inc the top institutional holder. As of Jun 29, 2023, the company held 8.44% of the shares, roughly 51.31 million EW shares worth $3.74 billion.
Blackrock Inc. holds the second largest percentage of outstanding shares, with 8.36% or 50.81 million shares worth $3.71 billion as of Jun 29, 2023.
Among Mutual Funds, the top two as of Jun 29, 2023 were Vanguard Total Stock Market Index Fund and Vanguard 500 Index Fund. With 18.92 million shares estimated at $1.38 billion under it, the former controlled 3.11% of total outstanding shares. On the other hand, Vanguard 500 Index Fund held about 2.37% of the shares, roughly 14.43 million shares worth around $1.05 billion.