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Strength Seen in Edwards Lifesciences (EW): Can Its 6.2% Jump Turn into More Strength?
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Edwards Lifesciences (EW - Free Report) shares rallied 6.2% in the last trading session to close at $78.47. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 2.2% loss over the past four weeks.
Edwards Lifesciences scored a strong price increase, on investors’ optimism surrounding its impending fiscal fourth-quarter 2023 financial results, which is slated to release on Feb 6 post the closing bell. Per the Zacks Consensus Estimate, revenues for the fourth quarter suggests a year-over-year growth of 11.1%, while earnings are expected to remain flat compared to the last year’s same period.
This medical device maker is expected to post quarterly earnings of $0.64 per share in its upcoming report, which represents no change from the year-ago quarter. Revenues are expected to be $1.5 billion, up 11.1% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Edwards Lifesciences, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on EW going forward to see if this recent jump can turn into more strength down the road.
Edwards Lifesciences belongs to the Zacks Medical - Instruments industry. Another stock from the same industry, TransMedics (TMDX - Free Report) , closed the last trading session 1.5% lower at $85.77. Over the past month, TMDX has returned 13.4%.
TransMedics' consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.10. Compared to the company's year-ago EPS, this represents a change of +52.4%. TransMedics currently boasts a Zacks Rank of #3 (Hold).
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Strength Seen in Edwards Lifesciences (EW): Can Its 6.2% Jump Turn into More Strength?
Edwards Lifesciences (EW - Free Report) shares rallied 6.2% in the last trading session to close at $78.47. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 2.2% loss over the past four weeks.
Edwards Lifesciences scored a strong price increase, on investors’ optimism surrounding its impending fiscal fourth-quarter 2023 financial results, which is slated to release on Feb 6 post the closing bell. Per the Zacks Consensus Estimate, revenues for the fourth quarter suggests a year-over-year growth of 11.1%, while earnings are expected to remain flat compared to the last year’s same period.
This medical device maker is expected to post quarterly earnings of $0.64 per share in its upcoming report, which represents no change from the year-ago quarter. Revenues are expected to be $1.5 billion, up 11.1% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Edwards Lifesciences, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on EW going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Edwards Lifesciences belongs to the Zacks Medical - Instruments industry. Another stock from the same industry, TransMedics (TMDX - Free Report) , closed the last trading session 1.5% lower at $85.77. Over the past month, TMDX has returned 13.4%.
TransMedics' consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.10. Compared to the company's year-ago EPS, this represents a change of +52.4%. TransMedics currently boasts a Zacks Rank of #3 (Hold).