Breaking News
Investing Pro 0
NEW! Get Actionable Insights with InvestingPro+ Try 7 Days Free

Edwards Lifesciences Down on Earnings Miss as Hospital Staffing 'Remains Uncertain'

Stock Markets Jul 29, 2022 01:44PM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Reuters. Edwards Lifesciences (EW) Down on Earnings Miss as Hospital Staffing 'Remains Uncertain'
 
EW
+0.68%
Add to/Remove from Watchlist
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 

By Sam Boughedda

Edwards Lifesciences (NYSE:EW) shares have fallen over 6% Friday on the back of its earnings release.

The company reported after the close Thursday, missing earnings and revenue expectations.

Edwards Lifesciences reported earnings of $0.63, $0.01 worse than the analyst estimate of $0.64 on revenue of $1.37 billion, missing the consensus estimate of $1.4 billion.

The company said it experienced persistent disruption within the healthcare system during the quarter.

"Although hospital staffing remains uncertain, we continue to have confidence in our longer-term outlook," said Michael Mussallem, the company's chairman and CEO.

Edwards Lifesciences sees third-quarter earnings per share between $0.58 and $0.66, versus the consensus of $0.65, with revenue for the period expected to be between $1.3 billion and 1.37 billion, versus the consensus of $1.44 billion.

Following the report, a Canaccord analyst downgraded Edwards Lifesciences to Hold from Buy, reducing the firm's price target on the stock to $106 from $115 per share.

While the Q2 results were mostly in line with our estimates, the company’s lowered forward guidance leaves us hesitant about near-term dynamics, particularly US TAVR and OUS TMTT revenue growth trends and the current trading multiple of shares, said the analyst.

"We believe our thesis – that low-risk TAVR approval should drive continued revenue growth while the TMTT opportunity develops – isn’t playing out as we expected. While COVID staffing certainly has played a role (and management did spend a great deal of commentary on the call regarding that dynamic), we believe that still doesn’t explain the slower-than-expected growth we are seeing from US TAVR and believe slower new account growth may also be impacting total US TAVR growth," he added.

Edwards Lifesciences Down on Earnings Miss as Hospital Staffing 'Remains Uncertain'
 

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Continue with Google
or
Sign up with Email