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Edwards Lifesciences’ first-quarter earnings beat estimates for the durability of its cardiac devices

(Reuters) – Edwards Lifesciences Corp reported upbeat first-quarter profit on Thursday due to strong demand for artificial heart valves and other medical devices.

The California-based company currently expects annual sales growth to be at the high end of its forecast of 8-10%.

Edwards makes transcatheter aortic valve replacement (TAVR) devices and competes with Abbott Laboratories, Boston Scientific and Medtronic.

Edwards’ TAVR device sales rose 6% to $1 billion in the first quarter, and revenue of $1.6 billion topped analyst estimates of $1.57 billion.

On an adjusted basis, the company reported earnings of 66 cents per share, better than analysts’ average estimate of 64 cents, according to LSEG data.

(Reporting by Pratik Jain in Bengaluru; Editing by Sriraj Kalluvila)