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DEVICES: Valuation at record levels, tops $60B
Edwards Lifesciences Corp. was one of the area's first large publicly traded companies to deliver first-quarter earnings last Tuesday, exceeding consensus expectations and setting a positive outlook for the future as procedure volumes continue to pick up. The Irvine-based heart valve maker (NYSE: EW), which has the highest market cap among public companies in Orange County, said it generated quarterly net sales of $1.2 billion, an increase of 8% compared to the same period a year ago. Analysts expected $1.16 billion on average.
"We recognize that there are many people still struggling with the pandemic around the world, yet as we anniversary the start of the pandemic, I'm encouraged by the signs of recovery," Chief Executive Mike Mussallem said in a statement.
"Structural heart procedures increased as we progressed...