Edwards Lifesciences Corp (EW)

Was upgraded a few times today after earnings--doing well. A quality healthcare name though a general rule in healthcare is don't own just one name in a space, because what can go right one stock, could go wrong in another and vice versa or wrong for both. Diversify.

The interesting is that it's still at 25x post-drop. You're seeing earnings misses get punished because the aggregate multiple they trade at is still on the high end.

That had a terrible quarter. They must do better.

Reported a solid quarter and guidance in last April. Is up 20% YTD, but has more room to run. He's bullish medical devices.

He has owned IRTC-O in the past. It is in the medical device space and has equipment that looks for heart arrhythmia and loads the data to the cloud. The market has not yet said this stock has taken a positive turn yet. Earnings are growing and it is growing into its share price. He wants to see it break above $85-$87 before getting back in. He would prefer holding EW-N

When it came down to his model price it was the only buying opportunity there was in the last eight years. He loves the company. Model price is $99.94, a 30% premium that it is trading at. He can only wish for a pull back.

Trans-catheter aortic valve replacement is their business, a best in class valve that's been taken up widely in hospitals around the world. This market will double in three years, and they are the big player. (Analysts' target of $142.80)

Valve replacement. They have trans catheter valve replacements. It is done in the least invasive way that the medical space has come up with. It is all very positive. They are well placed in a growing part of the healthcare market. It is expected to double by 2021. (Analysts’ target: $142.).

Very focused on cardiovascular and ICU. The great thing about this is that the demand is very inelastic, so you get the unit demand independent of the economic cycle, a good solid demand. Also, they are innovators and have good research and good product flow on their own and have been smart acquirers.