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Home » Edwards Lifescience boosts 2020 guidance amid strong TAVR sales

Edwards Lifescience boosts 2020 guidance amid strong TAVR sales

January 30, 2020 By Chris Newmarker

Edwards LifesciencesEdwards Lifesciences (NYSE:EW) saw its stock jump in after-hours trading today after the company boosted its 2020 guidance amid positive fourth-quarter TAVR sales.

The Irvine, Calif.–based cardio device and critical care monitoring company’s Q4 results were mixed. But there was also the news that worldwide TAVR sales were up 30% year-over-year in Q4, to $763 million, with continued “impressive strength” in the U.S. The strong TAVR sales report appears to have allayed investor worries after a Jefferies report last week suggested a potential step down in U.S. TAVR sales in December.

Edwards is now projecting 2020 sales of $4.6 to $5.0 billion versus the company’s previous range of $4.5 to $5.0 billion. The company also boosted its full-year adjusted earnings per share guidance to $6.15 to $6.40 versus the previous guidance of $6.05 to $6.30.

For the three months ended Dec. 31, 2019, Edwards reported profits of $280.2 million, or $1.32 per share, on sales of $1.17 billion, versus a profit of only $7 million, or 3¢ per share, off $977.7 million for the same quarter a year ago.

Adjusted to exclude one-time items, earnings per share were $1.46, three pennies behind The Street, where analysts were looking EPS of $1.49 on sales of $1.14 billion.

“We invested aggressively in transformative therapies in 2019 and this will continue in 2020 as our commitment has never been greater,” CEO Michael A. Mussallem said in a news release.

Investors reacted by sending EW shares up more than 5% to $246.25 apiece in after-hours trading.

Filed Under: Business/Financial News, Cardiovascular, Catheters, Featured, Replacement Heart Valves, Wall Street Beat Tagged With: Edwards Lifesciences, tavr

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About Chris Newmarker

Chris Newmarker is the executive editor of WTWH Media life science's news websites and publications including MassDevice, Medical Design & Outsourcing and more. A professional journalist of 18 years, he is a veteran of UBM (now Informa) and The Associated Press whose career has taken him from Ohio to Virginia, New Jersey and, most recently, Minnesota. He’s covered a wide variety of subjects, but his focus over the past decade has been business and technology. He holds bachelor’s degrees in journalism and political science from Ohio State University. Connect with him on LinkedIn or email at [email protected].

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