Benzinga - by Avi Kapoor, Benzinga Staff Writer.
Edwards Lifesciences Corporation (NYSE: EW) reported in-line earnings for its fourth quarter on Tuesday.
Edwards Lifesciences posted adjusted earnings of 64 cents per share, in-line with market expectations of 64 cents per share. The company’s quarterly sales came in at $1.53 billion versus estimates of $1.50 billion, according to data from Benzinga Pro.
"In 2023, our team made significant progress advancing transformational therapies for patients while delivering strong financial performance. Full year sales increased 12 percent, including impressive growth across each of our four product groups," said Bernard Zovighian, Edwards’ CEO. "We exited the year with strong momentum driven by our broad portfolio of innovative therapies. In 2024, we anticipate launching multiple breakthrough technologies globally and advancing important clinical trials as we embark on a new era of structural heart innovation. These breakthroughs, along with significant unmet patient needs, give us confidence in our ability to accelerate growth in 2025 and beyond."
Edwards Lifesciences said it sees FY24 adjusted earnings of $2.70 to $2.80 per share, on revenue of $6.6 billion.
Edwards Lifesciences shares fell 1% to trade at $87.40 on Wednesday.
These analysts made changes to their price targets on Edwards Lifesciences after the company reported quarterly results.
- Mizuho raised the price target on Edwards Lifesciences from $85 to $95. Mizuho analyst Anthony Petrone maintained a Buy rating.
- RBC Capital boosted the price target on Edwards Lifesciences from $82 to $95. RBC Capital analyst Shagun Singh maintained an Outperform rating.
Now Read This: McKesson Earnings Are Imminent; Here Are The Recent Forecast Changes From Wall Street's Most Accurate Analysts
Latest Ratings for EW
| Feb 2022 | UBS | Upgrades | Neutral | Buy |
| Jan 2022 | Morgan Stanley | Maintains | Overweight | |
| Jan 2022 | Raymond James | Maintains | Outperform |
View the Latest Analyst Ratings
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.