In a report released today, Josh Jennings from TD Cowen reiterated a Buy rating on Edwards Lifesciences (EW – Research Report), with a price target of $100.00.
Josh Jennings has given his Buy rating due to a combination of factors surrounding the robust growth prospects of the Transcatheter Aortic Valve Replacement (TAVR) market and the anticipated outcomes of the SMART trial. His confidence is bolstered by recent discussions with interventional cardiologist consultants and the observed solid trends in U.S. TAVR procedure volumes. Jennings believes that the market has room to expand considerably, as the current patient base suffering from severe aortic stenosis remains significantly underpenetrated. Moreover, the lack of expectation for near-term market share shifts post-SMART trial results adds to the stable outlook for Edwards Lifesciences.
Jennings’ optimism is further supported by concrete examples from high-volume academic centers, which project a substantial increase in TAVR volumes into 2024. Hospitals are actively identifying patients with severe aortic stenosis who have not been evaluated yet, indicating that Edwards Lifesciences’ strategy to activate patients within the system is showing early signs of success. These insights, coupled with the fact that physician consultants have revised their growth expectations upward in a relatively short period, underpin the rationale behind Jennings’ Buy recommendation for Edwards Lifesciences’ stock.
In another report released on March 7, Bank of America Securities also upgraded the stock to a Buy with a $105.00 price target.
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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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