Edwards Lifesciences Stock Tumbles, Highlights Slowdown In TAVR Business
Portfolio Pulse from Vandana Singh
Edwards Lifesciences Corp (NYSE:EW) reported Q2 adjusted EPS of $0.70, beating estimates, but sales of $1.632 billion missed expectations. TAVR sales grew 5%, but U.S. growth was below expectations due to hospital workflow pressures. The company announced acquisitions of JenaValve Technology and Endotronix, with minimal revenue contribution expected in 2025. Guidance for TAVR sales growth was lowered, and EW stock fell 28.7%. William Blair maintains an Outperform rating.

July 25, 2024 | 6:36 pm
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Edwards Lifesciences reported Q2 EPS of $0.70, beating estimates, but sales of $1.632 billion missed expectations. TAVR sales grew 5%, but U.S. growth was below expectations due to hospital workflow pressures. The company announced acquisitions of JenaValve Technology and Endotronix, with minimal revenue contribution expected in 2025. Guidance for TAVR sales growth was lowered, and EW stock fell 28.7%. William Blair maintains an Outperform rating.
Despite beating EPS estimates, Edwards Lifesciences missed sales expectations and reported slower-than-expected TAVR growth due to hospital workflow pressures. The stock fell 28.7%, indicating a negative market reaction. The acquisitions of JenaValve Technology and Endotronix are long-term growth opportunities but will not contribute significantly to revenue in the short term. The lowered guidance for TAVR sales growth further adds to the negative sentiment.
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