(Reuters) – Edwards Lifesciences Corp on Wednesday reported a 12% rise in third-quarter sales, helped by strong demand for the company’s artificial heart valves and other devices.
Medical device makers are lately benefiting from a rebound in non-urgent procedures that were otherwise delayed by pandemic-induced curbs, along with the easing of staffing pressure in the United States.
Sales of Edward’s transcatheter aortic valve replacement (TAVR), a device used to perform minimally invasive surgery for people with heart valve disease, rose 11% to $960.9 million in the third quarter.
Analysts had expected TAVR sales of $964.40 million, according to LSEG data.
TAVR, which is Edward Lifesciences’ lead product segment, is seeing increased competition from rivals like Abbott, Boston Scientific and Medtronic.
Edward reiterated its full-year forecast for profit, total revenue, and sales of its TAVR devices.
For the fourth quarter, the company expects total sales between $1.45 billion and $1.53 billion, below analysts’ expectation of $1.54 billion.
For the quarter ended Sept. 30, revenue came in at $1.48 billion in line with the analysts’ estimates.
Excluding items, for the reported quarter, the company reported a profit of 59 cents per share, which was also in line with estimates.
(Reporting by Khushi Mandowara in Bengaluru; Editing by Shailesh Kuber)
