Edwards Lifesciences Posts Strong 2Q With Solid TAVR Demand; Raising Our FVE
Edwards Lifesciences delivered impressive second-quarter performance and is tracking along with our full-year projections. While we haven’t made any changes to our estimates through 2023, we have boosted our fair value estimate to $170 after baking in more optimistic estimates of longer-term growth and cash flow realized since our last update. We see little to change our view of Edwards’ narrow economic moat. However, we think it is worth monitoring the firm’s stable moat trend over the next 12 ...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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