MASSDEVICE ON CALL — Medical device maker Edwards Lifesciences (NYSE:EW) hit a new 52-week low after lowering its 2013 outlook.
EW shares dropped briefly to $63.50 on Wednesday, April 24, a new low-watermark for the year, after the medical device giant lowered its sales expectations to the range of $2-2.1 billion for fiscal 2013.
The stock climbed back a bit by the end of the day Thursday, when EW shares closed at $65.35, and they were trading at $65.61 as of about 8:00 p.m. in after-hours trading.
Edwards shares tumbled as much as 14% in after-hours trading Wednesday after the company reported that it missed its own sales targets and dimmed its full-year outlook. Chairman & CEO Mike Mussallem said Edwards expects to log adjusted EPS of $3.00 to $3.10 for the full year and between 75¢ and 79¢ for the 2nd quarter, on Q2 sales of $500 million to $530 million.
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