Edwards Lifesciences Corporation (EW) saw its stock price surge 7.54% in after-hours trading on Thursday, following the release of its second-quarter earnings report that exceeded analyst expectations. The medical technology company reported adjusted earnings per share of $0.67, surpassing the consensus estimate of $0.62, while sales reached $1.53 billion, beating the projected $1.49 billion.
The company's strong performance was driven by an 11.9% increase in sales, with notable growth in its Transcatheter Aortic Valve Replacement (TAVR) and Transcatheter Mitral and Tricuspid Therapies (TMTT) segments. In light of these results, Edwards Lifesciences has raised its full-year total company sales growth guidance to 9% to 10%, projecting sales between $5.9 billion and $6.1 billion.
While the positive earnings report fueled the stock's after-hours rally, investors appeared to shrug off news of an FDA recall of Edwards Lifesciences' Arterial Cannula due to the risk of wire exposure. The company's robust financial performance and increased guidance seem to have overshadowed this regulatory concern, as the market responded enthusiastically to the overall strength of Edwards Lifesciences' business outlook.
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