JP Morgan Introduces 2011 Estimates On Edwards Lifesciences

JP Morgan has published a research report on Edwards Lifesciences (NYSE: EW) and introduces 2011 quarterly estimates on the company.

In the report, JP Morgan writes "For 2011, we now expect total revenues of $1.639B (+13.6% reported, 11.8% organic), up slightly from $1.636B previously. Our forecasts calls for Heart Valve sales of $992M (+18.6%), Critical Care sales of $482M (+6.8%), Cardiac Surgery System sales of $108M (+7.7%), and Vascular sales of (+4.6%). On the transcatheter valve side, we forecast revenues of $320M (including $23.9M in US commercial revenues from 4Q launch), at the midpoint of management's guidance of $300- 340M, which assumes an October approval for Sapien in the US."

JP Morgan maintains its Underweight rating and $74 price target.

Edwards Lifesciences closed yesterday at $80.88.