Shares in Edwards Lifesciences Corp., Orange County’s largest publicly traded company, rose 4% in after-hours trading following quarterly earnings that exceeded expectations.
Stock in the Irvine-based firm increased to $93.15 a share for a $55.7 billion market cap after the company said net sales climbed 8% to $1.2 billion. Analysts expected $1.16 billion on average.
Earnings per share rose to 54 cents from 50 cents in the fourth quarter of 2020 and surpassed consensus estimates of 47 cents.
"Structural heart procedures increased as we progressed through the winter months, and our sales growth this quarter was better-than-expected,” Chief Executive Mike Mussallem said in a statement.
The company reiterated its 2021 sales guidance in the range of $4.9 billion to $5.3 billion.
