Edwards Lifesciences (EW) stock surged late Tuesday — and could retake its 50-day and 200-day lines — after beating fourth-quarter forecasts for its heart-valve replacements.
Across all products, Edwards earned an adjusted 59 cents per share on $1.39 billion in sales. On a strict, as-reported basis, sales rose more than 9%. Both metrics topped forecasts for 55 cents and $1.36 billion, respectively.
The company is known for its transcatheter aortic heart-valve replacements, or TAVR. This is a means of replacing a faulty heart valve without resorting to open-heart surgery. During the fourth quarter, TAVR procedures generated $1.04 billion in sales, growing 6% year over year, or 5% in constant currency. That easily beat forecasts for $1.01 billion, according to FactSet.
Edwards also came up with strong sales of its mitral and tricuspid therapies. These products are for other parts of the heart that can become diseased and, ultimately, replaced. Sales came in at $105 million, ahead of projections for $94 million.
The surgical segment generated $244 million, up 6% — or 5% excluding exchange rates — and narrowly topped the Street's call for $243 million.
For the year, the company guided to earnings of $2.40 to $2.50 per share and 8% to 10% sales growth, excluding the impact of exchange rates. Analysts forecast earnings of $2.44 per share and $5.84 billion in sales.
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.