After a study questioned whether Edwards Lifesciences' Sapien valves can last longer than four years, SunTrust thinks that the large elderly population, other, positive clinical data, and potential improvements in the device's longevity keep it confident in its forecasts. The firm keeps a Buy rating on the shares.

Sees Q2 revenue $1.62B-$1.7B, consensus $1.64B.

Reports Q1 revenue $1.6B, consensus $1.57B. "Edwards is positioned to extend our leadership and deliver sustainable growth as a result of the strategic investments we have made across our transcatheter platforms to address the large and growing needs of patients impacted by aortic, mitral and tricuspid disease. We are pleased with our total company performance with first quarter sales growth of 10% as more patients were treated with our innovative therapies," said Bernard Zovighian, CEO. "This encouraging start to the year supports our increased 2024 sales guidance. Looking beyond 2024, we remain confident in Edwards' innovation-driven strategy, led by new indications, differentiated technologies and strategic adjacencies for addressing the significant unmet needs of structural heart disease patients."

Pre-earnings options volume in Edwards Lifesciences is 5.5x normal with puts leading calls 10:7. Implied volatility suggests the market is anticipating a move near 4.8%, or $4.27, after results are released. Median move over the past eight quarters is 6.3%.