Edwards Lifesciences Corp (EW)

Edwards Lifesciences Corporatio (EW) dropped by 8.14% from $68.34 to $62.78 in the trading on Thursday October 26, 2023. The reason why EW stock down today include:

• Decreased adjusted earnings: Edwards delivered results in Q3 2023 today, but the company reported adjusted net income went in the other direction, slipping by 6% to a bit under $361 million ($0.59 per share). It seemed to weigh on the stock as did the broader market sell-off, causing EW stock down today.
• Top-line guidance: Investors trade on potential rather than trailing results, and they found the company's top-line guidance wanting. Edwards believes its sales will ring up at $1.45 billion to $1.53 billion, with adjusted net income of $0.60 to $0.66 per share. The sales range, though, is under the analyst consensus of $1.54 billion.