This medical device maker just received FDA approval for its INSPIRIS RESILIA aortic valve, the first in a new class of resilient heart valves. The company beat analysts’ estimates last quarter by $0.55, and is expected to post another surprise for this reporting period.
Edwards Life Sciences (EW)
From Shortex Market Letter
Edwards Life Sciences (EW) is a global provider of technology treatments for heart diseases and critically ill patients. The company has stood as leader in trans-catheter heart valves for the treatment of advanced cardiovascular disorders.
The possible surprise in store for the fiscal year Q1-’17. EW adjusted its EPS of 94c/shr, which surpassed the consensus by 14.6% on revenue of $883.5M and beat the consensus by 13.7%.
The company’s prospects for continuing support from its international market sales of its Transcatheter aortic valve replacement (TAVR) Int’l market is solid.
EW Completed its correction/retraction (97-95) to (95-90) to (95-87), spiked (87-97) to (92-97). Plunged (95-88). Reversal rocketed with upped-gap (97-107) to (10-112). Broke-out through secondary resistance @ (102-105).
Challenged upper-head resistance @ (115-117). Volatile.
Return: 10.69%
(12/31/16-06/20/17)
RECOMMENDATION
BUYING RANGE: 112-119
NEAR TERM OBJECTIVE: 136
INTER MED OBJECTIVE: 154
STOP LOSS: 109
Joseph Parnes, Shortex Market Letter, www.shortex.com, 800-877-6555, June 20, 2017