The company reported in-line earnings per share results but revenue slightly missed expectations, despite growing roughly 20% year over year.
Sometimes a company's great track record can work against it, TheStreet's Jim Cramer, co-manager of the Action Alerts PLUS portfolio, said on CNBC's "Stop Trading" segment.
"This is an example of a company, in this case Edwards Lifesciences, that continues to do an excellent job quarter after quarter, but the expectations simply climbed too high. Analysts are sticking up for the company right now and investors should "stand by it, too," Cramer said.
While he acknowledged the stock could trickle lower in the short term, it's a great company and investors would be wise to buy it on this pullback. The long-term thesis remains intact, he concluded.
At the time of publication, Cramer's Action Alerts PLUS had no position in companies mentioned.