Edwards Lifesciences heart valve sales miss estimates,...
April 24 (Reuters) - Medical device maker Edwards Lifesciences Corp's first-quarter sales for its transcatheter heart valves missed analysts' targets on Tuesday, sending its shares down 8 percent in after-market trading.
Global sales of the heart valves, by far the company's most important growth driver, rose 2.3 percent to $551.5 million, but missed analyst estimates of $579.64 billion, according to Thomson Reuters I/B/E/S.
Sales of surgical heart valve therapy also fell 10 percent to $179.5 million.
The company's net profit fell to $206.6 million, or 96 cents a share, in the quarter ended March 31, compared with a $230.2 million, or $1.06 per share, a year earlier.
Excluding items, the company earned $1.22 per share. Analysts on average had expected $1.11 per share, according to Thomson Reuters I/B/E/S.
Net sales rose 1.3 percent to $894.8 million in the quarter.
The company raised its full-year earnings forecast to $4.50 to $4.70 per share, from its previous range of $4.43 and $4.63 per share.
Shares of the company were trading at $123.55 after the bell.
(Reporting by Manas Mishra in Bengaluru; Editing by Arun Koyyur)