Medical technology company Edwards Lifesciences (NYSE: EW) will be reporting results tomorrow after market close. Here’s what to look for.
Edwards Lifesciences missed analysts’ revenue expectations by 13.1% last quarter, reporting revenues of $1.35 billion, down 8.5% year on year. It was a strong quarter for the company, with an impressive beat of analysts’ EPS estimates and a solid beat of analysts’ EPS guidance for next quarter estimates.
Is Edwards Lifesciences a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Edwards Lifesciences’s revenue to grow 7.4% year on year to $1.36 billion, a reversal from the 6.1% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.55 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Edwards Lifesciences has missed Wall Street’s revenue estimates six times over the last two years.
Looking at Edwards Lifesciences’s peers in the healthcare equipment and supplies segment, some have already reported their Q4 results, giving us a hint as to what we can expect. Intuitive Surgical delivered year-on-year revenue growth of 25.2%, beating analysts’ expectations by 6.5%, and Envista reported revenues up 1.1%, topping estimates by 0.8%. Intuitive Surgical traded down 4% following the results while Envista was up 5.8%.
Read our full analysis of Intuitive Surgical’s results here and Envista’s results here.
Investors in the healthcare equipment and supplies segment have had steady hands going into earnings, with share prices flat over the last month. Edwards Lifesciences’s stock price was unchanged during the same time and is heading into earnings with an average analyst price target of $79.49 (compared to the current share price of $70).
Unless you’ve been living under a rock, it should be obvious by now that generative AI is going to have a huge impact on how large corporations do business. While Nvidia and AMD are trading close to all-time highs, we prefer a lesser-known (but still profitable) semiconductor stock benefiting from the rise of AI. Click here to access our free report on our favorite semiconductor growth story.
