Edwards Lifesciences raises 2017 outlook, details 2018 goals

Edwards Lifesciences (NYSE:EW) today raised its outlook for the rest of this year and set its goals for the coming year, saying it expects to post earnings growth of about 12% on a roughly 9% sales gain in 2018 and pledging “aggressive” investment in R&D. The Irvine, Calif.-based heart valve maker, which yesterday acquired mitral valve repair developer Harpoon Medical for $100 million in cash plus another $150 million in potential milestones, released the numbers at its annual investor conference in New York City. For 2017, Edwards upped the forecast for adjusted earnings per share to $3.65 to $3.85, up from $3.30 to $3.45 previously. Annual sales are expected to reach the high end of Edwards’s existing guidance for $3.0 billion to $3.4 billion. Next year Edwards expects to report adjusted EPS of $4.10 to $4.30, representing growth of 12.3% to 11.7%. Sales are pegged at $3.5 billion to $3.9 billion, which would be growth of 16.7% to 14.7% compared with the forecast for 2017. Edwards said it expects to log transcatheter heart valve sales of $2.1 billion to $2.4 billion in 2018. “As we come to the end of 2017, our performance and accomplishments this year significantly exceeded our expectations, and we expect 2018 to be another strong year for Edwards Lifesciences. Our global growth is being driven by our transcatheter aortic valve therapies, and continued advancement in each of our market-leading product lines,” chairman & CEO Mike M...
Source: Mass Device - Category: Medical Devices Authors: Tags: Replacement Heart Valves Wall Street Beat Edwards Lifesciences Source Type: news