For the second quarter Edwards Lifesciences reported earnings of 88 cents a share, beating the Capital IQ Consensus Estimate of 77 cents a share by 11 cents. Revenue grew 11.2% from the year-ago quarter to $575.1 million, beating analysts' estimates of $545.1 million for the quarter.
The company recorded a $750 million gain in the quarter from a patent settlement from Medtronic (MDT).
TheStreet Ratings team rates EDWARDS LIFESCIENCES CORP as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:
"We rate EDWARDS LIFESCIENCES CORP (EW) a BUY. This is driven by several positive factors, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, good cash flow from operations, largely solid financial position with reasonable debt levels by most measures, expanding profit margins and solid stock price performance. We feel these strengths outweigh the fact that the company has had sub par growth in net income."