Share price on Dec. 31, 2019: $73.29
Share price on Dec. 31, 2020: $91.23
Boston Scientific in November threw in the towel on its Lotus TAVR device, leaving Edwards and its Sapien 3 TAVR device to battle in the space with Medtronic’s Evolut platform. Just one month before Boston Scientific’s decision, the two companies had even launched a head-to-head study to compare the systems.
Still, Edwards had to produce on its own end and, amid a pandemic, continued to put forth strong, Street-beating financial results while producing innovation, too. A big boost came when the company capped off the year by projecting 2021 TAVR sales to represent growth of between 15% and 20% as well as growth in the mid-teens for global sales and a projected adjusted earnings per share for 2021 of between $2 and $2.20.
The company anticipates that its global TAVR opportunity will reach more than $7 billion by 2024, with continued growth to follow.
Outside of TAVR, Edwards is plugging along across multiple other spaces. Corporate VP and the GM of critical care Katie Szyman spoke to Medical Design & Outsourcing in the fall to highlight the company’s commitment to a patient-focused outlook and AI-based critical care options down the line.
Additionally, Edwards made headway in the regulatory processes for a number of devices, including:
- Treating the first patient in a clinical trial for its Harpoon valve repair system.
- FDA approval for the Konect Resilia aortic valved conduit (AVC).
- CE Mark approval for its Pascal transcatheter valve repair system for treating tricuspid regurgitation (TR).
With an optimistic outlook for TAVR and a growing presence across other spaces, Edwards will look to carry on the momentum with which it finished 2020 in 2021.