Shares of medical device maker Edwards Lifesciences Corp., Orange County’s largest publicly traded company, fell after the company forecast fourth quarter sales that may miss the consensus estimate of analysts.
The company (NYSE: EW) said today that fourth quarter sales growth on a year over year basis will be similar to the 4% climb in the third quarter to $1.1 billion. A 4% growth from $1.17 billion in last year’s fourth quarter implies about $1.22 billion in sales, below the average analyst estimate of $1.26 billion.
The shares fell 3.7% in after hours trading to $80.50. It has a $52 billion market cap.
The company also reported third quarter adjusted earnings of 51 cents a share, topping the 44 cents expected by analysts.