July 23 (Reuters) – Edwards Lifesciences beat analysts’ estimates for second-quarter profit and revenue on Thursday, helped by strong demand for its artificial heart valves used in complex cardiac procedures, sending its shares up nearly 7% in extended trading.
Medical technology firms are seeing increased demand for surgical and procedural devices as population ages and healthcare needs grow.
Here are some details:
• Sales of Edwards’ transcatheter aortic valve replacement device (TAVR) rose 11.3% over the year earlier to $1.26 billion during the quarter. Analysts on average estimated $1.23 billion, according to data compiled by LSEG.
• TAVR is used to treat severe aortic stenosis, a condition where the aortic valve narrows and restricts blood flow from the heart.
• Edwards raised the lower end of 2026 sales growth forecast for TAVR devices to 8% from 7% earlier, while keeping the upper end intact at 9%.
• The company maintained annual adjusted profit expectations in the range of $2.95 to $3.05 per share.
• The California-based company reported quarterly revenue of $1.74 billion, while analysts estimated $1.70 billion.
• On an adjusted basis, Edwards earned 78 cents per share, compared with the estimate of 74 cents.
(Reporting by Padmanabhan Ananthan in Bengaluru; Editing by Shilpi Majumdar)
