Why Edward Lifesciences (EW) Stock Is Up Today

NEW YORK (TheStreet) -- Edwards Lifesciences (EW) was gaining 10.4% to $93.21 Wednesday after beating analysts' estimates for earnings and revenue.

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).

Must read: Warren Buffett's 25 Favorite Stocks

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

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."

EW ChartEW data by YCharts

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.

If you liked this article you might like

Edwards Lifesciences: Cramer's Top Takeaways

Don't Let Stock Picking Scare You: Cramer's 'Mad Money' Recap (Wednesday 7/19/17)

Hold on Concert's Hair Loss Trials Pushes Shares Down 10%

Edwards Lifesciences Is Not Skipping A Beat

Canaccord Says Edwards Lifesciences Is Its Favorite Med Tech Stock