Edwards Lifesciences Delivers Decent 1Q; No Change to Our FVE
Edwards Lifesciences’ first-quarter results fell slightly short of our projections on the top line, but gross margin slightly exceeded our expectations. We’re not particularly concerned about the slower start to 2019, as we anticipate adoption of new products as the year goes on to translate into stronger growth in the coming quarters. We’re holding firm on our valuation. Overall, Edwards remains in a strong competitive position, and we’re reiterating the firm’s narrow moat rating. As it continu...Edwards Lifesciences is engaged in patient-focused medical for structural heart disease, as well as critical care and surgical monitoring. The company is a manufacturer of heart valve systems and repair products used to replace or repair a patient's diseased or defective heart valve. The company is also engaged in hemodynamic and noninvasive brain and tissue oxygenation monitoring systems used to measure a patient's cardiovascular function in the hospital setting. The company's products and technologies are categorized into four main areas: Transcatheter Aortic Valve Replacement, Transcatheter Mitral and Tricuspid Therapies, Surgical Structural Heart, and Critical Care.
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