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Buy Rating Justified: Edwards Lifesciences Exceeds Q1 Expectations with Strong Sales and Market Growth Prospects
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Buy Rating Justified: Edwards Lifesciences Exceeds Q1 Expectations with Strong Sales and Market Growth Prospects

Analyst Larry Biegelsen of Wells Fargo maintained a Buy rating on Edwards Lifesciences (EWResearch Report), boosting the price target to $99.00.

Larry Biegelsen’s rating is based on a robust first-quarter performance and promising growth prospects for Edwards Lifesciences. The company exceeded expectations in their Q1 sales, particularly due to the strength in their Transcatheter Mitral and Tricuspid Therapies (TMTT) and Critical Care (CC) sales which did not see a material impact from the recent U.S. approval of Evoque in the first quarter. This outperformance, along with a solid earnings per share (EPS) that surpassed the consensus, provides a strong foundation for the Buy rating. Furthermore, the upward revision of the revenue guidance for the full year, maintaining the EPS guidance, and the sustained expectations for gross margins signal confidence in the company’s continued financial health.
Additionally, the market’s positive reception of the Evoque launch in both Europe and the U.S., coupled with the expanded adoption and activation of PASCAL, has driven robust market growth, particularly in the U.S. Biegelsen’s decision to increase the price target reflects the anticipation of continued traction in product adoption and market penetration. The well-maintained margin and spending guidance, despite the aggressive growth targets, also suggest that Edwards Lifesciences is operating with effective cost control and financial discipline, further justifying the Buy recommendation.

In another report released today, Barclays also assigned a Buy rating to the stock with a $100.00 price target.

Based on the recent corporate insider activity of 116 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of EW in relation to earlier this year.

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Edwards Lifesciences (EW) Company Description:

Incorporated in 1958, California-based Edwards Lifesciences Corp. is a medical technology company, which specializes in structural heart disease and critical care and surgical monitoring. It reports in three segments: Transcatheter Aortic Valve Replacements, Transcatheter Mitral and Tricuspid Therapies and Surgical Structural Heart and Critical Care.

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