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Pro Analysis

Money manager Louis Navellier buys more Edwards Lifesciences even after stock plunges 17%

Group of surgeons performing surgery on patient in operating room
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Money manager Louis Navellier, chairman and founder of Navellier & Associates, said he is buying more of Edwards Lifesciences even after the stock plunged 17 percent on lower-than-expected sales last quarter.

Ahead of earnings release Tuesday, the investor made the medical-device maker a top holding for his "Squawk Box" model portfolio, predicting a continuation in the company's previous streak of positive results.

Here's why Navellier, who looks at earnings momentum to make investing decisions, was buying more Wednesday into the drop.