BUZZ-Edward Lifesciences rises as demand for heart device drives Q4 profit beat

Medical device maker Edward Lifesciences' shares EW.N rise 4.4% to $74 premarket

Co on Tuesday reported Q4 profit of 59 cents/share, beating analyst est of 55 cents/share - LSEG data

Co posted Q4 total sales of $1.39 billion, higher than analyst est of $1.35 bln

EW's lead product, transcatheter aortic valve replacement (TAVR) device, brought in Q4 sales of $1.04 billion vs analyst est of $1.01 billion

At least three brokerages raised PT on the stock following results

Brokerage William Blair says EW is well positioned to meet its financial goals this year

Co's performance could be boosted by potential insurance coverage for its tricuspid valve replacement devices, broader approval of TAVR procedures and regulatory approval of the Sapien M3 heart valve in the U.S and the EU, the brokerage said

Stock fell 16.5% in the last 12 months