Edwards Lifesciences (EW, Financial) reported a difficult quarter due to an unprecedented shutdown of non-emergency hospital units and surgery centers across the globe. Edwards' revenues declined -15%, though we expect 2020 revenues will still finish the year ahead of 2019 because hospitals and surgery centers have learned to cope with COVID-19 and will not repeat the shutdowns seen during March and April 2020.
From David Rolfe (Trades, Portfolio)'s Wedgewood Funds third-quarter 2020 shareholder letter.
