Edwards Adds To Its Breakout After Smashing First-Quarter Estimates

Edwards Lifesciences (EW) beat Wall Street views on Tuesday when it reported adjusted earnings of 54 cents per share on $1.22 billion in gross sales for the primary quarter ended March 31. In response, EW inventory jumped.

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On common, analysts surveyed by FactSet anticipated Edwards earnings of 47 cents per share and $1.16 billion in gross sales.

In the year-earlier interval, the center units firm earned 50 cents per share and reported almost $1.13 billion in gross sales.

For the 12 months, Edwards guided to adjusted earnings of $2.07-$2.27 per share and $4.9 billion to $5.3 billion in gross sales. Analysts known as for adjusted revenue of $2.12 per share and $5.09 billion in gross sales.

In after-hours buying and selling on today’s stock market, EW inventory popped 3.8% close to 93. Shares broke out of a double-bottom base with a buy point at 88.30 on April 15, in response to MarketSmith.com.

More to observe.

Follow Allison Gatlin on Twitter at @IBD_AGatlin.

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