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Edwards Lifesciences (EW) Sees Double-Digit Earnings, Sales Increase In 2013; Shares Up

 December 04, 2012 09:36 AM
 


(By Balachander) Edwards Lifesciences Corp. (NYSE: EW) forecasts strong double-digit sales and earnings growth in 2013 driven by the ongoing launch of its SAPIEN transcatheter heart valve in the United States.

The Irvine, California-based company expects earnings per share (EPS) growth of more than 25 percent and total underlying sales growth of 13 percent to 16 percent for the next year.

"Our strong bottom line growth projection includes the estimated impact of the medical device excise tax, as well as investments to prepare for the launch of our SAPIEN XT transcatheter heart valve in Japan," the company said.

[Related -Stock Upgrades And Downgrades: BBT, EW, FB, MON, MS, MXIM, MU, OXY]

The company anticipates EPS, excluding items, of $3.21 to $3.31 on total sales of $2.1 billion to $2.2 billion for 2013.

Wall Street analysts, on average, expect EPS of $3.21 on sales of $2.13 billion for the twelve months ending December 2013.

Edwards projects transcatheter valve sales in the U.S. to be $390 million to $440 million in 2013, which will contribute to an estimated global underlying growth rate of 30 percent to 45 percent. Global sales of transcatheter valves are expected to grow to between $710 million and $790 million in 2013.

In addition, the company expects Surgical Heart Valve Therapy sales of $800 million to $840 million in 2013, representing a 4 percent to 6 percent underlying growth rate.

[Related -Top Insider Purchases: EW, FMER, GE, OPK, NSPR]

For the full year 2012, Edwards continues to expect EPS of $2.54 to $2.58, excluding items, while analysts expect $2.56.

The stock, which has been trading in the 52-week range of $62.69 to $110.79, rose $1.97, or 2.28 percent to trade at $88.49 on Tuesday.

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