Edwards Lifesciences (EW) touched a new high for a second day, after the company early this week announced approval in Europe to expand the use of its Sapien 3 heart valve to certain intermediate-risk patients.
Edwards Lifesciences stock was up 1.4% to 120.87 in the stock market today, and shares have jumped more than 50% for the company. Shares, though, are about 12% extended from a July 26 breakout from a cup-with-handle base, at a 107.69 buy point.
IBD'S TAKE: When a company makes both the IBD 50, a ranking of top-performing stocks over the past 52 weeks, and IBD Leaderboard, very top stocks at or near breakouts, that's a company to watch. Currently, only two companies make both lists: Edwards and Facebook.
On Monday, Edwards said it had received CE Mark to expand use of its Sapien 3 transcatheter heart valve to treat patients suffering from severe, symptomatic aortic stenosis who are at intermediate risk for open-heart surgery.
IBD's 121-company Medical-Products group, meanwhile, was up a fraction Thursday and rose to near 2,899. The group, up nearly 40% since the stock market's overall dive in early February, touched a record high above 2,908 on Sept. 8. It ranks No. 21 out of 197 groups, up from No. 124 six months ago and No. 42 13 weeks ago.
Among others in the group, Glaukos (GKOS) was up 2.9% to 38.95 Thursday, extended from a 36.60 buy point touched last Thursday, out of a cup base. The company makes a procedure to treat glaucoma.
K2M Group (KTWO), a maker of spine products, rose 3% to 17.52 and near a possible 18.23 buy point out of a flat base.
Other group stocks up included NovoCure (NVCR), up 4.65% to 9.22 and Smith & Nephew (SNN), up 2.3% to 33.58.
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