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Medical-device maker and IBD 50 stock Edwards Lifesciences ( EW ) beat analysts’ Q1 estimates and raised guidance late Tuesday, sending the stock up a fraction in after-hours trading. Edwards made 71 cents a share in the quarter, excluding one-time items, up 25% from the year-earlier quarter and topping analysts’ consensus of 66 cents, according to Thomson Reuters. Sales rose 18% to $697 million, vs. consensus of $665 million. Edwards lifted its full-year earnings guidance to $2.67 to $2.77, a dime above the guidance it issued in its Q4 report. It added around $100 million to its sales range, now $2.7 billion to $3 billion. Is Edwards Lifesciences past its buy point? Try Leaderboard and find out Edwards also guided Q2 above expectations, with EPS of 67 to 73 cents and sales of $700 million to $740 million. For Q2, analysts expected earnings of 67 cents a share and sales of $698 million. Edwards stock has been on a roll this year, hitting a record high of 109.71 in Tuesday’s regular session before closing up a fraction, at 108.84. This month, the company’s Sapien 3 transcatheter aortic valve replacement was shown to reduce deaths from heart attacks in patients with at moderate risk from open-heart surgery, boosting its stock 17% on April 4. With an IBD Composite Rating of 97, it’s currently No. 8 on the IBD 50 list of top-performing stocks over the past 12 months. Scalper1 News
Scalper1 News