Edwards Lifesciences Crafts 52-Week High - Analyst Blog
May 14 2014 - 4:00PM
Zacks
Shares of Edwards
Lifesciences Corp. (EW) hit a new 52-week high of $86.52
on May 13, eventually closing at $86.11. The closing share price
represents an extraordinary one-year return of 20.3% and a
year-to-date return of 30.6%. Average volume of shares traded over
the last three months was 1,237K.
This Zacks Rank #3 (Hold) company
has a market cap of $9.08 billion with long-term earnings growth
expectations of 15.2%.
Growth Drivers
Edwards Lifesciences delivered
mixed first-quarter 2014 results with a bottom-line beat and a
top-line miss.
However, for all good reasons, the
company has managed to be in the news since the beginning of 2014.
Edwards Lifesciences kick-started the year with the receipt of CE
mark for its SAPIEN 3 in January and SAPIEN XT in February followed
by the INTUITY Elite Valve System winning the same in April.The
company is also positive on the expected U.S. Food and Drug
Administration (FDA) sanction of the Sapien XT valve by the second
quarter of this year.
In addition, enrollment of 1,000
intermediate risk patients in the U.S. SAPIEN 3 trial is on track
and is expected to be completed by the end of this year. Till date,
the company has launched many new products, demonstrated strong
clinical data and made significant progress on several key
developments indicating sustainable future growth.
Outside the U.S., Transcatheter
Heart Valves (THV) sales grew 33% in the last reported quarter,
driven by exceptionally strong growth in Europe and the ongoing
rollout of SAPIEN XT in Japan. Edwards expects the positive
procedural growth trends in Europe to further strengthen this
year.
With the favorable court ruling
against Medtronic Inc. (MDT) announced in April
2014 and next-generation transcatheter valve SAPIEN XT in the
company's pipeline, Edwards Lifesciences is well positioned to
continue dominating and consolidating its foothold in the U.S.
transcatheter aortic heart valve market.
Other Stocks to
Consider
Better-ranked medical instruments
stocks that are worth a look include Masimo
Corporation (MASI) and Accuray
Incorporated (ARAY). All of these three stocks carry a
Zacks Rank #2 (Buy).
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