Thu, Jan. 1, 2:19 AM
- Dow: INTC +41%; UNH +35%; HD +28%; CSCO +25%; MSFT +25%.
- S&P 500: LUV +125%; EA +106%; EW +95%; AGN +92%; AVGO +91%.
- Nasdaq: AAL +112%; EA +106%; AVGO +91%; GMCR +78%; ILMN +68%.
Oct. 23, 2014, 5:31 PM
- Edwards Lifesciences (EW -0.1%) Q3 results ($M): Revenues: 607.4 (+22.6%); Gross Profit: 439.3 (+19.6%); Operating Expenses: 309.8 (+18.3%); Operating Income: 120.6 (+20.8%); Net Income: 94.6 (+23.2%); EPS: 0.87 (+27.9%); Quick Assets: 1,515.1 (+61.7%).
- 2014 Guidance: Revenues: >$2.25B from $2.05B - 2.25B; EPS ex. items: $3.33 - 3.39 from $3.24 - 3.34.
- Q4 Guidance: Revenues: $575M - 615M; EPS ex. items: $0.89 - 0.95.
- Shares up 3% AH on average volume.
Oct. 23, 2014, 4:59 PM
Oct. 22, 2014, 5:35 PM
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Oct. 9, 2014, 10:19 AM
Jul. 29, 2014, 4:26 PM
- Edwards Lifesciences (EW -0.5%) Q2 results: Total revenues: $575.1M (+11.2%); Gross Profit: $423.9M (+7.7%); Net Income: $547.0M (+486.3%); EPS: $5.09 (+528.4%); Quick Assets: $1,484.1M (+58.4%).
- The company recorded a $750M gain related to the patent litigation settlement with Medtronic.
- 2014 Guidance: Revenues: high end of $2.05B - 2.25B; EPS ex. items: $3.24 - 3.34 from $3.10.
- Q3 Guidance: Revenues: $530M - 570M; EPS ex. items: $0.66 0 0.72.
- EW shares are up 6% AH on average volume.
Jul. 29, 2014, 4:06 PM
Jul. 28, 2014, 5:35 PM
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Jun. 30, 2014, 10:22 AM| Jun. 30, 2014, 10:22 AM | Comment!
Jun. 16, 2014, 6:22 PM
- The FDA has approved Edwards' (EW) Sapien XT transcatheter aortic heart valve for "the treatment of high-risk and inoperable patients suffering from severe symptomatic aortic stenosis."
- The low-profile valve, available in Europe since 2010 and Japan since 2013, will now be available to U.S. patients "at leading cardiovascular centers across the nation." Edwards predicts it will increase the number of treatable patients.
- Previous: Sapien XT beats Medtronic device in study
Jun. 12, 2014, 3:44 PM
- The FDA approves Medtronic's (MDT -0.6%) transcatheter aortic valve replacement (TAVR) CoreValve System for patients at high risk for open-heart surgery. Its original indication, approved in January 2014, is for patients at extreme risk for open-heart surgery. The basis for the expanded label was a Phase 3 clinical trial comparing TAVR using CoreValve to traditional surgical aortic valve replacement. One-year survival in patients receiving the CoreValve System was 85.8% vs 80.9% for patients receiving the traditional procedure. The results were statistically significant.
- The Medtronic device competes directly with Edwards Lifesciences' (EW -3.1%) Sapien TAVR system. Last month, MDT agreed to pay EW $750M plus royalties to settle patent infringement claims.
May 21, 2014, 10:42 AM
- The FDA approves Direct Flow Medical's IND for its transcatheter aortic valve system allowing the company to initiate its SALUS clinical trial. The study will evaluate the safety and effectiveness of the product in as many as 30 sites.
- Direct Flow says its system minimizes the risk of post-procedural aortic regurgitation by virtue of its sealed annulus and by being fully repositionable to achieve optimal hemodynamic performance.
- Related tickers: (EW) (BSX)
May 20, 2014, 9:22 AM
- Edwards Lifesciences (EW) says the outcomes at 30 days in a trial of its Sapien 3 transcatheter aortic valve were "excellent."
- Immortality was a "very low" 2.1% and the stroke rate was 1%, while there were few access-site complications. Over 96% of patients had a mild paravalvular leak, although there was no severe suh leaks.
- The results relate to 150 high- and intermediate-risk patients. (PR)
- See Edwards and Medtronic settle patent fight
May 20, 2014, 7:29 AM
- Edwards Lifesciences (EW) and Medtronic (MDT) settle their patent disputes regarding transcatheter heart valves. They agree to dismiss all pending cases and appeals in courts and patent offices worldwide and not litigate patent disputes between them in the field of transcatheter valves for the duration of the eight-year term of the settlement.
- Under the terms of the agreement, Medtronic will make a one-time payment to Edwards of $750M and make quarterly royalty payments through April 2022 based on a percentage of Medtronic CoreValve sales subject to a minimum of $40M/year.
- Edwards will contribute $50M from the settlement to its Every Heartbeat Matters philanthropic program.
May 1, 2014, 11:18 AM
- If Pfizer is successful in acquiring U.K.-based AstraZeneca, its plan to redomicile there will save it millions in corporate taxes. The tax arbitrage scheme, called an inversion, creates a holding company in the foreign country with the lower tax rate. Britain's corporate tax rate is 21% (20% next year) which is substantially lower than the U.S.'s top rate of 35% (up to 40% when state and local taxes are included).
- About 24 U.S. companies have employed this strategy since 2008. Ireland, Canada, Switzerland and the Netherlands are also popular destinations for redomiciling.
- According to Reuters, many of the m&a deals this year have been driven, at least in part, by tax inversions.
- Predictably, investment bankers are working feverishly to generate deals in various industries that take advantage of the loophole before Congress acts to close it.
- Some lawmakers say that the best solution is to reform the U.S. business tax code.
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Apr. 24, 2014, 5:41 PM
EW vs. ETF Alternatives
Edwards Lifesciences Corp technologies that treat structural heart disease and critically ill patients. It manufactures heart valves and repair products used to replace or repair a patient's diseased or defective heart valve.
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