Edwards Lifesciences Corp (NYSE:EW) shares are up on Friday as the company reported strong first-quarter results, highlighting growth in its transcatheter mitral and tricuspid therapies.
• Edwards Lifesciences stock is surging to new heights today. What’s behind EW gains?
Edwards Lifesciences Q1 Earnings Drive Stock Move
The heart devices company on Thursday reported quarterly adjusted earnings of 78 cents, beating the consensus of 73 cents. Sales reached $1.65 billion, beating the consensus of $1.59 billion.
Edwards Lifesciences announced a 16.7% year-over-year (+12.7% at constant currency) increase in sales for the first quarter, driven by robust demand for its heart valve therapies.
The company also noted significant growth in its transcatheter mitral and tricuspid procedures, further solidifying its position in the market.
Valve Therapies and TAVR Drive Growth
The company reported Transcatheter Aortic Valve Replacement (TAVR) sales of $1.2 billion, up 14.4% (+11%). SAPIEN growth in the U.S. was healthy, and it was even faster outside of the U.S.
Edwards’ global competitive position in the first quarter increased slightly year-over-year, mainly due to the exit of …