Edwards Lifesciences (EW)
by Zacks Equity Research
November 01, 2012 | Comments :
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Edwards Lifesciences (
EW) reported EPS of $0.58 in the third quarter of 2012, surpassing the Zacks Consensus Estimate by $0.02. Sales increased 8.5% to $447.9 million, in line with the preliminary result but lagged the original guidance of $465-$485 million. This was primarily due to lower-than-expected THV sales due to economic uncertainties in Europe, coverage issues for certain inoperable patients in US and later-than expected approval of Sapien in high-risk patients.
Given these headwinds, the company lowered its outlook for 2012. We prefer to avoid the stock and accordingly downgrade it to Underperform.
Edwards current trailing 12-month earnings multiple is 36.3. The stock is currently trading at 27.1x the 2013 EPS estimate of $3.21. Our target price is based on 24.6x our 2013 EPS estimate.
This page is temporarily not available. Please check later as it should be available shortly. If you have any questions, please email customer support at support@zacks.com or call 800-767-3771 ext. 9339.
Given these headwinds, the company lowered its outlook for 2012. We prefer to avoid the stock and accordingly downgrade it to Underperform.
Edwards current trailing 12-month earnings multiple is 36.3. The stock is currently trading at 27.1x the 2013 EPS estimate of $3.21. Our target price is based on 24.6x our 2013 EPS estimate.
Read the full Analyst Reporton EW