Edwards Lifesciences Corp. (NYSE: EW), the largest publicly traded company in OC with a $53 billion market cap, reported fourth quarter earnings on Wednesday of 50 cents per share, which missed analyst expectations of 53 cents per share.
The Irvine-based heart valve maker said fourth-quarter revenue was flat at $1.19 billion, matching the average analyst estimate. It also reported full-year 2020 revenue of $4.4 billion, up 1% compared to the year prior.
Edwards reiterated its guidance for $4.9 billion to $5.3 billion in 2021 annual sales, while analysts are forecasting $5.09 billion in sales.
“As we look to 2021 and beyond, I am as excited as ever about the work happening at Edwards and, more importantly, what we envision for the future of patient care,” CEO Mike Mussallem said in a statement.
Shares of the medical device maker fell 2.3% to $83.00 in after-hours trading following its earnings report.
