Edwards Lifesciences (NYSE:EW) posted fourth-quarter results that fell short of the consensus forecast on Wall Street, but reaffirmed its outlook for 2022.
The Irvine, California-based heart device company yesterday evening reported profits of $335.3 million — or $0.53 per diluted share — on sales of $1.33 billion for the three months ended Dec. 31, 2021, for a bottom-line gain of 8% and sales growth of 12% compared with Q4 2020.
Transcatheter aortic valve replacement (TAVR) sales grew to $872 million for the quarter, up 12% despite the “pronounced impact on hospital resources” in December from the omicron variant of COVID-19, said CEO Mike Mussallem. He cited the delta variant wave in the company’s third-quarter results.
Investors reacted by sending EW shares down more than 5% to $102.97 by afternoon trading today. MassDevice and MDO‘s MedTech 100 Index, which includes stocks of the world’s largest medical device companies, was down slightly.