Courtesy of Benzinga.
Goldman Sachs has published a research report on Edwards Lifesciences (NYSE: EW) after the company announced its 2012 guidance this morning and its investor meeting.
In the report, Goldman Sachs writes, “This morning at its 2011 investor meeting, Edwards announced 2012 guidance of $1.950-2.050 billion in sales (+18-22% FX neutral), which compares to our estimate of $1.995 billion (+16.7% yoy, +18.5% FX neutral) and the Street at $2.007 billion (+17.9% yoy). In addition, 2012 adjusted EPS is expected to be $2.70-2.80 vs. our estimate of $2.76 and consensus forecasts of $2.78. Importantly, management provided 2012 US transcatheter valve (TAVI) sales guidance of $200-260 million, which compares to our most recent estimate of $165 million. The biggest delta relates to management including revenue from the PARTNER A (high-risk surgical) cohort in numbers, whereas we had removed sales from our model following the TCT conference in November. Global TAVI sales are expected to be $560-630 million, which is in-line vs. our estimate of $600 million heading into the meeting.”
Goldman Sachs maintains its CL-Buy rating on Edwards Lifesciences, which is currently trading up $0.04 from yesterday’s $63.74 closing price.
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