EW - Despite top and bottom line earnings beat Edwards Lifesciences falls 4%

Shares of Edward Lifesciences' (NYSE:EW) are down 4% in after-hours trading even though its Q1 2022 net income increased ~10% year over year. In addition, the the heart-focused medical device maker beat on the top and bottom lines. Net income in the quarter rose to $373.6M ($0.39 diluted earnings per share). Revenue grew 9.8% year over year to ~$1.3B. In Edwards' (EW) largest segment, transcatheter aortic valve replacement, sales increased 11% to $881M compared to Q1 2021. The company ended the quarter with $1.5B in cash. Edwards reaffirmed its 2022 sales guidance for all of its product groups. Full-year sales are expected to grow at a low double-digit underlying rate to $5.5B-$6B. Read why Seeking Alpha Khaveen Investments argues that Edwards (EW) is currently fairly valued.

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Despite top and bottom line earnings beat, Edwards Lifesciences falls 4%