Q4 2023 Earnings Summary
Reported on Jan 4, 2025 (After Market Close)
Pre-Earnings Price$88.25Last close (Feb 6, 2024)
Post-Earnings Price$89.44Open (Feb 7, 2024)
Price Change
$1.19(+1.35%)
- Edwards Lifesciences grew faster than the market in Japan's TAVR segment in Q4 2023, viewing the underpenetrated Japanese market as a long-term growth driver.
- The early FDA approval of EVOQUE, the first transcatheter therapy approved in the U.S. for treating tricuspid regurgitation, opens a significant new market opportunity, with a focus on a controlled rollout to ensure long-term expansion.
- Investments in patient activation initiatives, including leveraging AI to identify patients, position Edwards to unlock growth by moving untapped patient populations through the system more effectively.
- Potential increased competition in the TAVR market may impact Edwards Lifesciences' market share in the future. Larry Wood acknowledged that a new competitor could enter the market in 2025, and while it's uncertain, the impact on their market share could be significant.
- Increased investments in field force and patient activation initiatives may pressure margins in the near term. The company is planning to continue growing resources and investing in the field team, which could lead to increased operating expenses outpacing revenue growth in certain quarters.
- Dependence on positive trial outcomes and uncertain reimbursement pathways for new products like EVOQUE could impact adoption and revenue growth. The full data set for TRISCEND II will be presented later, and it's hard to speculate on the outcomes. Also, CMS is working on national coverage determination for EVOQUE, and timing and coverage details are still uncertain.
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