Edwards Lifesciences reported strong financial performance in 2023, with full-year sales up 12% to $6 billion.
The company achieved better-than-expected Q4 growth of 13%, driven by a broad portfolio of innovative therapies.
In TAVR, the company experienced strong adoption of its SAPIEN 3 Ultra RESILIA platform and completed enrollment in the PROGRESS trial ahead of schedule. They also expect to present data from the EARLY TAVR trial later this year.
In TMTT, Edwards achieved significant milestones with continued global expansion of the PASCAL platform and the introduction of EVOQUE in Europe. EVOQUE recently received FDA approval for the treatment of tricuspid regurgitation patients.
Edwards is committed to bringing differentiated therapies to patients with mitral and tricuspid disease and believes their strategy positions them well for leadership in the space.
Current Fair Value
Undervalued by 3% based on the discounted cash flow analysis.