Sector: Healthcare|Industry: Medical Devices|Market Cap: $42.94B|Employees: 19.8K
Edwards Lifesciences is a global leader in patient-focused medical innovations for structural heart disease and critical care monitoring. The company is a pioneer in heart valve therapies, offering both surgical and transcatheter solutions. They also provide hemodynamic monitoring systems used in hospitals, and are focused on expanding into less invasive mitral and tricuspid valve therapies.
Net sales increased to $1.6B, a 9.5% YoY increase, primarily driven by TAVR product sales. However, gross profit margin decreased due to foreign currency fluctuations, specifically the weakening of the US dollar against the Euro.
Operating income was $387.5 million, compared to $388.4 million in the same period last year. Increased SG&A and R&D expenses offset the sales growth.
Net income attributable to Edwards Lifesciences Corporation was $351.9 million, compared to $340.5 million in the same period last year, reflecting a modest increase.