Edwards Lifesciences Corp (NYSE:EW) shattered its yearly net income forecasts on Friday as it reported Q3 results and mentioned unsatisfactory sales of its Sapien heart valve.
Presently Edwards Lifesciences anticipates reporting net income of $2.54 to $2.58 a share in 2012, low from its earlier forecasts of $2.60 to $2.68 a share. Edwards had estimate $1.9 billion to $1.97 billion in yearly revenue and presently forecast to reach the bottom end of that range.
FactSet analysts were anticipating net income of $2.57 a share and revenue of $1.91 billion.
Edwards reported on Friday that its income in the Q3 moved up 35% to $69.2 million or 58 cents a share, from $51.6 million or 43 cents a share. Analysts estimate 56 cents a share on average. The company reported that revenue surged 9% to $447.9 million from $412.7 million, as the corporation announced on Oct. 8.
Shifting reader’s focus to broader market, let us consider market performance of other stocks that significantly affect same sector. Medtronic, Inc. (NYSE:MDT) fell -2.73% to settle at $42.00, St. Jude Medical, Inc. (NYSE:STJ) moved down -0.60% to end at $39.50 while Boston Scientific Corporation (NYSE:BSX) dropped -3.33% to finish at $5.22 on Friday.
Edwards Lifesciences Corp (NYSE:EW) last session’s volume of 2.92 million shares was surprisingly higher than its average volume of 1.28 million shares. The stock after opening at $86.58 hit high price of $88.62 and then closed at $86.14 by scoring -0.69%.
The liquidity measure in recent quarter results of the company was recorded 4.50 as current ratio and on the other side the debt to equity ratio was 0.13 and long-term debt to equity ratio remained at 0.13. The Company had total cash of $506.00 million at hand and a book value per share as $12.44 in the most recent quarter.
The stock’s price volatility was 2.25 % for a week and 2.49% for a month as well as price volatility’s Average True Range for 14 days was 2.91 and its beta remained at 0.54.
EW generated revenue of $1.78 billion in the previous twelve months and earned $247.60 million. The Company showed a positive 13.88% in the net profit margin as well as in its operating margin which remained at 16.91%. Company’s annual sales growth for the past five years was 10.11%.
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