Business Corpus: Will A New Approval Help This Medical Stock Approach A Breakout?Edwards Lifesciences gained approval for a new transcatheter heart-valve replacement, or TAVR, system — helping its stock to stay within a consolidation. The post Will A New Approval Help This Medical Stock Approach A Breakout? appeared first on Investor's Business Daily.

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Edwards Lifesciences (EW) gained approval for a new heart-valve replacement Friday, helping shares of the medical technology giant stay within a consolidation.

On the stock market today, Edwards stock rose 0.3%, to 150.41. Edwards stock is consolidating with a buy point at 175.10. The medical technology company belongs to the IBD 50 list of elite growth stocks.

The Sapien 3 Ultra system is a transcatheter aortic heart-valve replacement, or TAVR. TAVR is a method of replacing a faulty heart valve using a catheter inserted into the leg. The FDA approved Sapien 3 Ultra in patients with severe, symptomatic aortic stenosis who are at intermediate risk of surgery.

Edwards already has several heart-valve replacement products, including the original Sapien 3. But the new Sapien 3 Ultra "features enhancements on the valve and a new delivery system," said Larry Wood, corporate vice president of transcatheter heart valves, in a written statement.

Edwards Stock Has Rivals In Heart-Valve Replacement

Edwards says the Sapien 3 Ultra builds on the existing technology behind the Sapien heart-valve replacement system.

The medical technology firm competes against Medtronic (MDT) with TAVR products in the U.S. Boston Scientific (BSX) is also embroiled in a patent battle with Edwards over that company's Sapien 3 heart-valve replacement system. But Boston doesn't have a TAVR product in the U.S.

Analysts expect Abbott Laboratories (ABT) to eventually enter the U.S. market with a TAVR product. Abbott has a heart-valve replacement called Portico under investigation in the U.S. The medical technology firm has also been active in repairing issues with the mitral valve.

Following Edwards' TAVR approval, Boston and Abbott stocks rose a fraction apiece, and Medtronic stock slid less than 1%.

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The post Will A New Approval Help This Medical Stock Approach A Breakout? appeared first on Investor's Business Daily.