TAVR Is Real (And Maybe Spectacular), But Edwards Lifesciences Isn't A Bargain
Stephen Simpson, CFA
Stephen Simpson, CFA
Nov. 19, 2015, 5:01 PM
- Edwards Lifesciences (NYSE:EW) approved a two-for-one split of the company's outstanding shares of common stock to be effected as a 100 percent stock dividend.
- Payable Dec. 11; for shareholders of record Nov. 30
Oct. 26, 2015, 5:37 PM
Oct. 26, 2015, 4:44 PM
- Edwards Lifesciences (NYSE:EW) Q3 results ($M): Total Revenues: 615.5 (+1.3%); Transcatheter Heart Valve Therapy: 296.1 (+13.0%); Surgical Heart Valve Therapy: 187.9 (-7.6%); Critical Care: 131.5 (-3.9%).
- Net Income: 118.1 (+24.8%); EPS: 1.07 (+23.0%); Non-GAAP EPS: 1.07 (+33.8%).
- 2015 Guidance: Total Revenues: $2.3B - 2.5B (unch); EPS: $4.43 - 4.53 from $4.30 - 4.40.
- Q4 Guidance: Total Revenues: $620M - 660M; EPS: $1.11 - 1.21.
Oct. 26, 2015, 4:19 PM
- Edwards Lifesciences (NYSE:EW): Q3 EPS of $1.07 beats by $0.09.
- Revenue of $615.5M (+1.3% Y/Y) beats by $17.21M.
Oct. 25, 2015, 5:35 PM
Oct. 23, 2015, 7:14 AM
- Edwards Lifesciences (NYSE:EW) reports Q3 results on Monday after the close. Consensus view is EPS of $0.98 (+23%) on revenues of $598M (-1.5%).
Oct. 15, 2015, 3:58 PM
- The FDA approves the use of Edwards Lifesciences' (EW +2%) SAPIEN XT transcatheter heart valve for aortic valve-in-valve procedures. The clearance creates a minimally invasive treatment option for patients with bioprosthetic valves that need replacing. Typically, they need to undergo open-heart surgery for valve replacement.
- In a presentation today at the 27th Transcatheter Cardiovascular Therapeutics symposium in San Francisco, results from the 197-subject PARTNER II Valve-in-Valve study showed a one-year survival rate of 86.6% in patients who received a SAPIEN XT via a valve-in-valve procedure and a low stroke rate of 3.7% in a very high-risk population.
- The FDA approved SAPIEN XT in June 2014 for patients at patients at high risk for native aortic valve replacement surgery. It was CE Mark'd in early 2014 for valve-in-valve procedures in the EU.
Jul. 28, 2015, 4:33 PM
- Edwards Lifesciences (NYSE:EW) Q2 results ($M): Total Revenues: 616.8 (+7.3%); Gross Profit: 458.2 (8.1%); Transcatheter Heart Valve Therapy: 281.4 (+28.1%); Surgical Heart Valve Therapy: 204.0 (-4.7%); Critical Care: 131.4 (-7.1%).
- Net Income: 112.7 (-79.4%); EPS: 1.02 (-80.0%); CF Ops: 170.1.
- 2015 Guidance: Total Revenues: $2.3B - 2.5B (unch); EPS ex. items: $4.30 - 4.40 from $4.10 - 4.30.
- Q3 Guidance: Total Revenues: $580M - 620M; EPS ex. items: $0.92 - 1.00.
- Shares are up a fraction after hours.
Jul. 28, 2015, 4:04 PM
- Edwards Lifesciences (NYSE:EW): Q2 EPS of $1.13 beats by $0.08.
- Revenue of $616.8M (+7.3% Y/Y) beats by $11.83M.
Jul. 27, 2015, 5:35 PM
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Jul. 15, 2015, 7:36 AM
Jul. 13, 2015, 11:23 AM
- Edwards Lifesciences (NYSE:EW) is up 3.5% on a pair of upgrades, as RBC Capital and Northland Capital Markets both upgraded shares to Outperform.
- RBC has raised its price target to $185 from $135, while Northland has set a target of $170. Shares closed yesterday at $147.16 and are trading currently at $152.36.
- RBC's Glenn Navarro pointed to strong growth opportunities tied to the company's heart valve replacements, noting that the transcatheter aortic valve replacement (TAVR) market should expand to about $5B by 2020, up from an earlier estimate of $3.5B.
- The company's acquisition of CardiAQ Valve, meanwhile, boosts prospects for transcatheter mitral valve replacement (TMVR). With the deal, Edwards gets "two shots on goal in the mitral race ... We believe the mitral opportunity for EW could be worth ~$1.5B-$2.0B by 2025, or ~$16/share."
- BTIG Research has reiterated a Neutral rating on the stock.
- Previously: Edwards Lifesciences to buy CardiAQ Valve for up to $400M (Jul. 10 2015)
Jul. 10, 2015, 5:41 PM
- Edwards Lifesciences (NYSE:EW) agrees to acquire privately-held CardiAQ Valve Technologies for as much as $400M, including $350M in cash at closing and the remainder payable after achieving a European regulatory milestone.
- CardiAQ is a developer of a transcatheter mitral valve replacement system, but EW says its valve system is not yet approved for sale in any country.
- EW says it expects the acquisition will be slightly dilutive to 2015 EPS, and will provide further guidance when Q2 earnings are released July 28.
Jul. 7, 2015, 10:50 AM
- Edwards Lifesciences (EW -0.8%) upgraded to Overweight from Equal Weight with a $168 (17% upside) price target (up from $135) by Morgan Stanley.
- HealthSouth (HLS -0.7%) upgraded to Market Outperform from Market Perform with a price target of $54 (15% upside) by JMP Securities.
- AstraZeneca (AZN -0.6%) upgraded to Buy from Hold with an $81 (25% upside) price target by Berenberg.
- Humana downgraded to Hold from Buy by Argus Research.
- Intuitive Surgical (ISRG -1.1%) downgraded to Underweight from Equal Weight by Morgan Stanley. Price target lowered to $500 (6% upside) from $560.
- Aegerion Pharmaceuticals (AEGR -0.5%) downgraded to Sell from Neutral by Guggenheim Securities.
- Centene (CNC -3.3%) downgraded to Equal Weight from Overweight by Barclays. Price target lowered to $81 (20% upside) from $88.
- Raptor Pharmaceutical (RPTP -1.8%) downgraded to Underperform from Perform with an $8 (40% downside risk) price target by Oppenheimer.
- Aetna (AET -3.5%) downgraded to Market Perform from Outperform by FBR Capital Markets. Price target lowered to $120 (6% upside) from $130.
- Baxter International (BAX -2.3%) downgraded to Neutral from Buy by Bank of America. Price target lowered to $40 (8% upside) from $78.
Jun. 17, 2015, 3:57 PM
- The FDA approves Edwards Lifesciences' (EW +2.6%) SAPIEN 3 Transcatheter Heart Valve (THV) for patients with aortic valve stenosis (narrowing) who are not candidates for surgery or who are at high risk of complications or death associated with open-heart surgery.
- SAPIEN 3 is the third generation of the SAPIEN THV that was originally approved in 2011.
Jun. 9, 2015, 11:22 AM
- Amedisys (AMED +5.7%) upgraded to Buy from Hold with a $41 (13% upside) price target by Deutsche Bank.
- Edwards Lifesciences (EW +0.3%) upgraded to Outperform from Market Perform with a $158 (19% upside) price target by BMO Capital.
- Zeltiq Aesthetics (ZLTQ +0.7%) upgraded to Buy from Neutral with a $36 (33% upside) price target by Goldman Sachs.
- NuVasive (NUVA -2%) downgraded to Neutral from Buy with a $52 (8% upside) price target by Goldman Sachs.
Edwards Lifesciences Corp. is focused on technologies that treat structural heart disease and critically ill patients. It designs, develops, manufactures and markets products to treat stage cardiovascular disease. Its products and technologies are categorized into three areas: Surgical Heart... More
Industry: Medical Appliances & Equipment
Country: United States
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