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Edwards Lifesciences (EW) Forwards Growth Strategy and Outlook
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Edwards Lifesciences Corporation (EW - Free Report) recently highlighted its strategy for longer-term growth, provided an update on its technology pipeline and shared financial guidance.
The company noted that the future of TAVR remains strong, driven by greater awareness, patient activation, advances in new technologies such as RESILIA and indication expansion and increased global adoption.
The PROGRESS pivotal trial is anticipated to conclude enrollment in early 2024 and is investigating the treatment of patients with moderate aortic stenosis. In 2024, the TCT Conference is anticipated to host the presentation of data from EARLY TAVR, a critical trial examining the management of individuals with severe aortic stenosis sans symptoms.
Global SAPIEN 3 Ultra RESILIA acceptance is strong and early 2024 CE Mark clearance is anticipated.
Within TMTT, Edwards Lifesciences stated that the EVOQUE tricuspid valve is being commercialized in Europe and U.S. certification is anticipated by mid-2024 CE. By the end of 2025, SAPIEN M3 is anticipated to be marked.
The company's primary goal is to help patients live longer, healthier and more active lives by identifying and addressing important unmet needs in cardiac surgery. Edwards will keep pushing for the widespread use of INSPIRIS RESILIA, its flagship surgical aortic heart valve that is setting a new benchmark for tissue durability in 2024. EW anticipates that the global launch of its MITRIS RESILIA valve in 2024 will accelerate its leadership in surgical mitral repair.
Strategic Spin-Off
By the end of 2024, Edwards plans to have a tax-free spin-off of Critical Care completed. As Edwards seeks increased potential for TAVR, TMTT, and surgical patients and additional investments in interventional heart failure technology, the proposed separation will allow for a sharper focus.
Image Source: Zacks Investment Research
With the help of the spin-off, Critical Treatment will be able to focus better and adapt to the changing needs of millions of patients worldwide, consolidating its position as the industry leader in advanced patient monitoring and revolutionizing treatment with AI-powered smart monitoring solutions.
Outlook
For 2023, the company expects total sales in the range of $5.9-$6.1 billion. Adjusted EPS is expected to be in the range of $2.47-$2.53.
The company also provided guidance for 2024
Total sales are expected in the range of $6.3-$6.6 billion, representing constant currency (CC) growth of 8-10%.
Adjusted EPS is expected in the range of $2.70- $2.80, representing CC growth of 9%-11%.
Long-Term Growth Strategy
Edwards Lifesciences expects to maintain its leadership position in the global TAVR market through an increased focus on expanding patient access by actively leveraging current valve platforms for additional indications. This includes developing next-generation valve platforms and maintaining trusted relationships with clinicians, payers and regulators.
With patients and clinicians increasingly preferring TAVR and based on the substantial body of compelling clinical evidence along with strong adoption of its TAVR devices, management remains optimistic about the long-term growth opportunity its transcatheter therapies offer in the global market. Edwards Lifesciences also remains committed to aggressively investing in structural heart disease and critical care technologies.
At the annual Investor Conference held in December 2022, Edwards Lifesciences upheld the global TAVR opportunity to increase to $10 billion by 2028, driven by greater awareness and advances in new technologies, as well as indication expansion and increased global adoption. Also, management projects TMTT’s global market opportunity to increase $5 billion by 2028.
Price Performance
In the past six months, Edwards Lifesciences shares has declined 19.2% compared with the industry’s decline of 7.4%.
Zacks Rank and Other Key Picks
Edwards Lifesciences currently carries a Zacks Rank #4 (Sell).
Haemonetics’ stock has risen 11.6% in the past year. Earnings estimates for Haemonetics have increased from $3.82 to $3.86 in 2023 and $4.07 to $4.11 in 2024 in the past 30 days.
HAE’s earnings beat estimates in each of the trailing four quarters, delivering an average surprise of 16.1%. In the last reported quarter, it posted an earnings surprise of 5.3%.
Estimates for Insulet’s 2023 earnings per share have increased from $1.61 to $1.90 in the past 30 days. The company's shares have plunged 40.9% in the past year compared with the industry’s decline of 7%.
PODD’s earnings surpassed estimates in all the trailing four quarters, the average surprise being 105.1%. In the last reported quarter, it delivered an average earnings surprise of 77.4%.
Estimates for DexCom’s 2023 earnings per share have increased from $1.23 to $1.41 in the past 30 days. Shares of the company have fallen 7.8% in the past year compared with the industry’s decline of 7.1%.
DXCM’s earnings surpassed estimates in all the trailing four quarters, the average surprise being 36.4%. In the last reported quarter, it delivered an average earnings surprise of 47.1%.
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Edwards Lifesciences (EW) Forwards Growth Strategy and Outlook
Edwards Lifesciences Corporation (EW - Free Report) recently highlighted its strategy for longer-term growth, provided an update on its technology pipeline and shared financial guidance.
The company noted that the future of TAVR remains strong, driven by greater awareness, patient activation, advances in new technologies such as RESILIA and indication expansion and increased global adoption.
The PROGRESS pivotal trial is anticipated to conclude enrollment in early 2024 and is investigating the treatment of patients with moderate aortic stenosis. In 2024, the TCT Conference is anticipated to host the presentation of data from EARLY TAVR, a critical trial examining the management of individuals with severe aortic stenosis sans symptoms.
Global SAPIEN 3 Ultra RESILIA acceptance is strong and early 2024 CE Mark clearance is anticipated.
Within TMTT, Edwards Lifesciences stated that the EVOQUE tricuspid valve is being commercialized in Europe and U.S. certification is anticipated by mid-2024 CE. By the end of 2025, SAPIEN M3 is anticipated to be marked.
The company's primary goal is to help patients live longer, healthier and more active lives by identifying and addressing important unmet needs in cardiac surgery. Edwards will keep pushing for the widespread use of INSPIRIS RESILIA, its flagship surgical aortic heart valve that is setting a new benchmark for tissue durability in 2024. EW anticipates that the global launch of its MITRIS RESILIA valve in 2024 will accelerate its leadership in surgical mitral repair.
Strategic Spin-Off
By the end of 2024, Edwards plans to have a tax-free spin-off of Critical Care completed. As Edwards seeks increased potential for TAVR, TMTT, and surgical patients and additional investments in interventional heart failure technology, the proposed separation will allow for a sharper focus.
With the help of the spin-off, Critical Treatment will be able to focus better and adapt to the changing needs of millions of patients worldwide, consolidating its position as the industry leader in advanced patient monitoring and revolutionizing treatment with AI-powered smart monitoring solutions.
Outlook
For 2023, the company expects total sales in the range of $5.9-$6.1 billion. Adjusted EPS is expected to be in the range of $2.47-$2.53.
The company also provided guidance for 2024
Total sales are expected in the range of $6.3-$6.6 billion, representing constant currency (CC) growth of 8-10%.
Adjusted EPS is expected in the range of $2.70- $2.80, representing CC growth of 9%-11%.
Long-Term Growth Strategy
Edwards Lifesciences expects to maintain its leadership position in the global TAVR market through an increased focus on expanding patient access by actively leveraging current valve platforms for additional indications. This includes developing next-generation valve platforms and maintaining trusted relationships with clinicians, payers and regulators.
With patients and clinicians increasingly preferring TAVR and based on the substantial body of compelling clinical evidence along with strong adoption of its TAVR devices, management remains optimistic about the long-term growth opportunity its transcatheter therapies offer in the global market. Edwards Lifesciences also remains committed to aggressively investing in structural heart disease and critical care technologies.
At the annual Investor Conference held in December 2022, Edwards Lifesciences upheld the global TAVR opportunity to increase to $10 billion by 2028, driven by greater awareness and advances in new technologies, as well as indication expansion and increased global adoption. Also, management projects TMTT’s global market opportunity to increase $5 billion by 2028.
Price Performance
In the past six months, Edwards Lifesciences shares has declined 19.2% compared with the industry’s decline of 7.4%.
Zacks Rank and Other Key Picks
Edwards Lifesciences currently carries a Zacks Rank #4 (Sell).
Some better-ranked stocks in the broader medical space are Haemonetics (HAE - Free Report) , Insulet (PODD - Free Report) and DexCom (DXCM - Free Report) . While Haemonetics and DexCom each carry a Zacks Rank #2 (Buy), Insulet presently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Haemonetics’ stock has risen 11.6% in the past year. Earnings estimates for Haemonetics have increased from $3.82 to $3.86 in 2023 and $4.07 to $4.11 in 2024 in the past 30 days.
HAE’s earnings beat estimates in each of the trailing four quarters, delivering an average surprise of 16.1%. In the last reported quarter, it posted an earnings surprise of 5.3%.
Estimates for Insulet’s 2023 earnings per share have increased from $1.61 to $1.90 in the past 30 days. The company's shares have plunged 40.9% in the past year compared with the industry’s decline of 7%.
PODD’s earnings surpassed estimates in all the trailing four quarters, the average surprise being 105.1%. In the last reported quarter, it delivered an average earnings surprise of 77.4%.
Estimates for DexCom’s 2023 earnings per share have increased from $1.23 to $1.41 in the past 30 days. Shares of the company have fallen 7.8% in the past year compared with the industry’s decline of 7.1%.
DXCM’s earnings surpassed estimates in all the trailing four quarters, the average surprise being 36.4%. In the last reported quarter, it delivered an average earnings surprise of 47.1%.