Edwards Lifesciences sets $1 billion stock buyback program, gives 2018 guidance

Edwards Lifesciences Corp. EW, +Zero.27% stated Thursday it licensed a brand new $1 billion inventory repurchase program. At Wednesday’s inventory remaining worth of $113.36, this system may just constitute about four.2% of the stocks remarkable. One by one, the guts illness remedy corporate stated it entered right into a $150 million sped up inventory buyback deal in November. The corporate additionally affirmed its 2017 monetary steerage, and projected 2018 adjusted income according to percentage of $four.10 to $four.30, in comparison with the FactSet consensus of $four.14. Income is anticipated to be $three.five billion to $three.nine billion in 2018, representing underlying expansion of nine% to 10%, and surrounding the FactSet consensus of $three.7 billion. "Our world expansion is being pushed through our transcatheter aortic valve remedies, and endured development in each and every of our market-leading product strains," stated Leader Govt Michael A. Mussallem. The inventory, which used to be nonetheless inactive in premarket business, has rallied 21% 12 months up to now, whilst the SPDR Well being Care Make a selection Sector ETF XLV, -Zero.09% has climbed 19% and the S&P 500 SPX, -Zero.01% has won 17%.

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