NEW YORK (TheStreet) -- Shares of Edward Lifesciences (EW) - Get Report closed higher by 5.66% to $114.48 on heavy trading volume Wednesday after reporting 2016 second quarter 

After yesterday's market close, the Irvine, CA-based medical equipment company reported adjusted earnings of 76 cents per share on revenue of $759.3 million for the most recent period.

Analysts surveyed by Thomson Reuters were looking for adjusted earnings of 70 cents per share on $724.3 million in revenue.

For the current quarter, the company expects to report adjusted earnings between 62 cents and 68 cents per share on revenue between $720 million and $760 million.

Analysts are projecting per-share earnings of 64 cents per share on $708.1 million in revenue for the third quarter.

About 4.82 million shares of Edward Lifesciences traded hands today, well above its average trading volume of roughly 1.60 million shares per day. 

Separately, TheStreet Ratings team rates the stock as a "buy" with a ratings score of A-.

Edwards Lifesciences' strengths such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, solid stock price performance, good cash flow from operations and growth in earnings per share. Although the company may harbor some minor weaknesses, we feel they are unlikely to have a significant impact on results.

You can view the full analysis from the report here: EW

TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this article's author. 

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