(Reuters) – Edwards Lifesciences Corp on Thursday reported upbeat first-quarter profit due to strong demand for its artificial heart valves and other medical devices.
The California-based company now expects annual sales growth to be at the higher end of its 8% to 10% forecast.
Edwards makes transcatheter aortic valve replacement (TAVR) devices and competes with Abbott Laboratories, Boston Scientific and Medtronic.
Sales of Edwards’ TAVR devices rose 6% to $1 billion in the first quarter while revenue at $1.6 billion beat analysts’ estimates of $1.57 billion.
On an adjusted basis, the company reported a profit of 66 cents per share, above average analysts’ estimates of 64 cents, as per LSEG data.
(Reporting by Pratik Jain in Bengaluru; Editing by Sriraj Kalluvila)
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