Edwards Lifesciences’ Sapien 3 Ultra TAVR [Image courtesy of Edwards Lifesciences]
Jefferies equity research reported that sales of transcatheter aortic valve replacement (TAVR) are better than the previous quarter with flat growth.
Edwards Lifesciences (NYSE:EW) reported among its second-quarter results that TAVR sales had taken a -12% hit for the three months ended June 30, 2020. When the company reported its quarterly results, it noted that it had seen cases of people holding off on heart valve replacement because they are worried about potentially catching COVID-19.
Jefferies currently has Edwards’ TAVR growth ranging from -7.5% to 2.0%, falling roughly in line with the -2% to 0.6% in consensus. According to the analysts’ report, the company’s third-quarter results are looking to fall in the consensus range.
While the third quarter looks to be an improvement over Edwards’ difficult second quarter, Jefferies says a plateau in growth is hitting, as July looks very similar to June after a drastic decrease from May and April, which recorded -28% growth and -35% growth, respectively.
Image from Jefferies
Jefferies cautions that the data for the third quarter is incomplete, having recorded just one month of data so far in the three-month period.
Shares of EW were down -0.4% at $78.37 per share in midday trading today..