Stock Track | Edwards Lifesciences Soars 5.26% Intraday on Q1 Earnings Beat and Raised Annual Forecast

Stock Track04-24 21:43

Edwards Lifesciences' stock surged 5.26% during intraday trading on Friday, driven by the release of stronger-than-expected first-quarter financial results and an upward revision to its full-year outlook.

The medical device company reported quarterly sales and profit that exceeded analyst estimates, fueled by robust demand for its artificial heart valves. Sales of its transcatheter aortic valve replacement (TAVR) device rose 14.4% year-over-year to $1.2 billion, surpassing market expectations.

Based on this strong performance, Edwards Lifesciences raised its annual adjusted profit forecast to a range of $2.95 to $3.05 per share, from a prior view of $2.90 to $3.05. The company also increased its annual sales growth guidance to 9% to 11%, up from the previous range of 8% to 10%.

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