Edwards Lifesciences first-quarter profit beats estimates on heart devices strength

By Thomson Reuters Apr 25, 2024 | 5:29 PM

(Reuters) – Edwards Lifesciences Corp on Thursday reported upbeat first-quarter profit due to strong demand for its artificial heart valves and other medical devices.

The California-based company now expects annual sales growth to be at the higher end of its 8% to 10% forecast.

Edwards makes transcatheter aortic valve replacement (TAVR) devices and competes with Abbott Laboratories, Boston Scientific and Medtronic.

Sales of Edwards’ TAVR devices rose 6% to $1 billion in the first quarter while revenue at $1.6 billion beat analysts’ estimates of $1.57 billion.

On an adjusted basis, the company reported a profit of 66 cents per share, above average analysts’ estimates of 64 cents, as per LSEG data.

(Reporting by Pratik Jain in Bengaluru; Editing by Sriraj Kalluvila)