Shares in heart valve device maker Edwards Lifesciences Corp. (NYSE: EW), the most valuable publicly traded company in Orange County, fell 16% to $72.76 apiece for a market cap of $45 billion after the firm cut its outlook.
For the year, the company now expects to earn $2.40-$2.50 per share, down from its prior outlook of $2.50-$2.65.
“The company anticipates that the U.S. hospital staffing challenge and strong U.S. dollar are likely to persist and now expects total company sales for 2022 at the low end of its previous range,” the company said in a news release.
Edwards had a valuation near $66 billion earlier this year.
For more on the company, see the Nov. 7 print edition of the Business Journal.
