Edwards Lifesciences Corp (NYSE:EW) currently trades at $89.73 which is about -8.44% lower than the 52-week high of $121.75. The trading volume at ready counter moved to 8.89M shares as compared to 1.77M shares average traded volume. The stock failed to get pushed above the $92.19 barrier, the intraday high, after opening at $92.16. Analysts have a consensus target price of $116.24 in the 12-month period. Its market capitalization has now reached to $19.80B.

Edwards Lifesciences Corp (NYSE:EW) was dropped to Underweight from Equal Weight at Barclays. It has earned a consensus Strong buy rating, according to Zacks Investment Research. No analyst has rated the stock with a sell rating, 2 have assigned a hold rating, 2 says it’s a buy and 14 have assigned a strong buy rating to the company.

Edwards Lifesciences Corp (EW) on February 2, 2017 reported financial results for the quarter ended December 31, 2016.

Fourth Quarter and Recent Highlights:

  • Sales grew 14 percent to $768 million; underlying1 sales were up 15 percent
  • Global Transcatheter Heart Valve Therapy (THVT) sales grew 29 percent to $432 million
  • U.S. THVT sales were up 38 percent
  • EPS was $0.73, an increase of 14 percent; adjusted2 EPS grew 17 percent to $0.75
  • FDA approved groundbreaking EARLY-TAVR Trial

“We are pleased to report strong fourth quarter results, which contributed to another successful year for Edwards, as we strengthened our financial performance and product leadership positions,” said Michael A. Mussallem, chairman and CEO.  “We ended the quarter with underlying sales growth of 15 percent, driven by strong adoption of transcatheter aortic valve replacement (TAVR) therapy, and finished the year with global sales of nearly $3 billion.   And, I’m proud to report we invested aggressively in 2016 to bring innovative medical technologies to more patients and drive future growth.”

Fourth Quarter 2016 Results

Sales for the quarter ended December 31, 2016 were $767.7 million, up 14.4 percent.  U.S. and international segment sales for the fourth quarter were $421.5 million and $346.2 million, respectively. On an underlying basis, sales grew 15.0 percent over the fourth quarter last year. Net income for the quarter ended December 31, 2016 was $158.5 million, or $0.73 per share, or $0.75 per share on an adjusted basis.

For the fourth quarter, the company reported Transcatheter Heart Valve Therapy (THVT) sales of $432.0 million, a 29.2 percent growth rate over the fourth quarter last year, or 31.8 percent on an underlying basis. Growth was led by continued strong therapy adoption across all geographies, with notable strength in the U.S. and Japan.

In the U.S., THVT sales for the quarter were $267.2 million, a 37.8 percent growth rate over the fourth quarter last year, or 41.1 percent on an underlying basis.  “Once again, overall performance was strong, with procedures growing broadly across more than 500 hospitals, in both large and small TAVR programs,” said Mussallem.