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Edwards Lifesciences (EW) Up 21.8% YTD: What's Driving It?
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Edwards Lifesciences Corporation (EW - Free Report) shares have surged 21.8% year to date compared with the industry’s rise of 7.2%. The Medical sector has gained 5.2% in the said time frame. The company has a market capitalization of $55.83 billion.
The company’s consistent growth performance reflects its commitment to advancing its leadership in surgical structural heart therapies. The strategic spin-off of Critical Care aims to boost the company’s R&D and innovations and enable a sharpened focus on structural heart disease.
This Zacks Rank 2 (Buy) stock earnings’ are expected to grow 7.3% in the next five years. EW’s ROE for the trailing 12 months was 23.6%, better than the industry average of (29.2%).
What's Aiding Edwards Lifesciences?
The Zacks Consensus Estimate for EW’s 2024 earnings is pegged at $2.76, indicating a 9.9% increase from the year-ago reported figure. The consensus estimate for 2024 revenues is pegged at $6.52 billion, indicating a year-over-year improvement of 8.9%.
Edwards Lifesciences pioneered the innovative RESILIA tissue, which is backed by more than 40 years of the company’s tissue technology leadership. The RESILIA portfolio has been widely adopted because of the excellent durability of its proven tissue technology. The company is firmly optimistic about the future of this technology as it continues to expand the body of RESILIA evidence. In the fourth quarter of 2023, the business benefitted from the strong global adoption of Edwards' premium RESILIA technology and overall procedural volumes. The company received CE Mark approval for the MITRIS RESILIA surgical mitral valve and has begun to launch in several European countries with positive physician feedback.
Throughout 2023, Edwards achieved several important milestones which outlined its commitment to the unmet needs of mitral and tricuspid patients. The company received approval in Japan for PASCAL Precision to treat patients with degenerative mitral regurgitation. In mitral replacement, Edwards received FDA approval for the SAPIEN 3 continued access program.
Edwards’ EVOQUE system became the world's first transcatheter valve replacement therapy to receive regulatory approval to treat TR (tricuspid regurgitation). Enrolment also continues for the CLASP IITR pivotal trial, with the PASCAL repair system in patients with symptomatic, severe TR likely to be completed by the end of 2024.
Over the past few quarters, TAVR sales have been driven by the strong performance of the Edwards SAPIEN 3 Ultra valve in the United States, Europe and the Rest of the World, the Edwards SAPIEN 3 Ultra RESILIA valve in the United States and the Edwards SAPIEN 3 in Japan.
What’s Ahead for the Stock?
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.
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Further, 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.
Further, Edwards Lifescience's upbeat guidance raises investors’ optimism about the stock. The company expects full-year 2024 adjusted earnings per share to be in the range of $2.70-$2.80. The company projects total sales for 2024 in the range of $6.30-$6.60 billion, suggesting growth of 8-10%.
Estimate Trends
The Zacks Consensus Estimate for EW’s 2024 and 2025 has moved 1.4% and 0.7% north, respectively, in the past 90 days, reflecting analysts’ optimism.
Cardinal Health, carrying a Zacks Rank #2 at present, has a long-term estimated earnings growth rate of 14.2% compared with the industry’s 11.6%. CAH’s earnings surpassed estimates in each of the trailing four quarters, the average surprise being 15.6%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Cardinal Health’s shares have gained 58.4% compared with the industry’s 18% rise in the past year.
Stryker, carrying a Zacks Rank #2 at present, has an estimated long-term earnings growth rate of 10.3%. SYK’s earnings surpassed estimates in each of the trailing four quarters, the average surprise being 5.1%.
Shares of the company have increased 29.3% compared with the industry’s 7.8% rise in the past year.
DaVita, sporting a Zacks Rank #1 at present, has an estimated long-term earnings growth rate of 12.1% compared with the industry’s 11.9%. DVA’s earnings surpassed estimates in each of the trailing four quarters, the average surprise being 35.6%.
Shares of DVA have surged 75.7% compared with the industry’s 25.1% rise in the past year.
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Edwards Lifesciences (EW) Up 21.8% YTD: What's Driving It?
Edwards Lifesciences Corporation (EW - Free Report) shares have surged 21.8% year to date compared with the industry’s rise of 7.2%. The Medical sector has gained 5.2% in the said time frame. The company has a market capitalization of $55.83 billion.
The company’s consistent growth performance reflects its commitment to advancing its leadership in surgical structural heart therapies. The strategic spin-off of Critical Care aims to boost the company’s R&D and innovations and enable a sharpened focus on structural heart disease.
This Zacks Rank 2 (Buy) stock earnings’ are expected to grow 7.3% in the next five years. EW’s ROE for the trailing 12 months was 23.6%, better than the industry average of (29.2%).
What's Aiding Edwards Lifesciences?
The Zacks Consensus Estimate for EW’s 2024 earnings is pegged at $2.76, indicating a 9.9% increase from the year-ago reported figure. The consensus estimate for 2024 revenues is pegged at $6.52 billion, indicating a year-over-year improvement of 8.9%.
Edwards Lifesciences pioneered the innovative RESILIA tissue, which is backed by more than 40 years of the company’s tissue technology leadership. The RESILIA portfolio has been widely adopted because of the excellent durability of its proven tissue technology. The company is firmly optimistic about the future of this technology as it continues to expand the body of RESILIA evidence. In the fourth quarter of 2023, the business benefitted from the strong global adoption of Edwards' premium RESILIA technology and overall procedural volumes. The company received CE Mark approval for the MITRIS RESILIA surgical mitral valve and has begun to launch in several European countries with positive physician feedback.
Throughout 2023, Edwards achieved several important milestones which outlined its commitment to the unmet needs of mitral and tricuspid patients. The company received approval in Japan for PASCAL Precision to treat patients with degenerative mitral regurgitation. In mitral replacement, Edwards received FDA approval for the SAPIEN 3 continued access program.
Edwards’ EVOQUE system became the world's first transcatheter valve replacement therapy to receive regulatory approval to treat TR (tricuspid regurgitation). Enrolment also continues for the CLASP IITR pivotal trial, with the PASCAL repair system in patients with symptomatic, severe TR likely to be completed by the end of 2024.
Over the past few quarters, TAVR sales have been driven by the strong performance of the Edwards SAPIEN 3 Ultra valve in the United States, Europe and the Rest of the World, the Edwards SAPIEN 3 Ultra RESILIA valve in the United States and the Edwards SAPIEN 3 in Japan.
What’s Ahead for the Stock?
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.
Further, 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.
Further, Edwards Lifescience's upbeat guidance raises investors’ optimism about the stock. The company expects full-year 2024 adjusted earnings per share to be in the range of $2.70-$2.80. The company projects total sales for 2024 in the range of $6.30-$6.60 billion, suggesting growth of 8-10%.
Estimate Trends
The Zacks Consensus Estimate for EW’s 2024 and 2025 has moved 1.4% and 0.7% north, respectively, in the past 90 days, reflecting analysts’ optimism.
Key Picks
Some other top-ranked stocks in the broader medical space are Cardinal Health (CAH - Free Report) , Stryker (SYK - Free Report) and DaVita (DVA - Free Report) .
Cardinal Health, carrying a Zacks Rank #2 at present, has a long-term estimated earnings growth rate of 14.2% compared with the industry’s 11.6%. CAH’s earnings surpassed estimates in each of the trailing four quarters, the average surprise being 15.6%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Cardinal Health’s shares have gained 58.4% compared with the industry’s 18% rise in the past year.
Stryker, carrying a Zacks Rank #2 at present, has an estimated long-term earnings growth rate of 10.3%. SYK’s earnings surpassed estimates in each of the trailing four quarters, the average surprise being 5.1%.
Shares of the company have increased 29.3% compared with the industry’s 7.8% rise in the past year.
DaVita, sporting a Zacks Rank #1 at present, has an estimated long-term earnings growth rate of 12.1% compared with the industry’s 11.9%. DVA’s earnings surpassed estimates in each of the trailing four quarters, the average surprise being 35.6%.
Shares of DVA have surged 75.7% compared with the industry’s 25.1% rise in the past year.