Josh Jennings, an analyst from TD Cowen, maintained the Hold rating on Edwards Lifesciences (EW – Research Report). The associated price target remains the same with $75.00.
Josh Jennings’s rating is based on Edwards Lifesciences’ recent developments and market dynamics. The early CE Mark approval of the SAPIEN M3 system has bolstered the company’s transcatheter mitral and tricuspid therapies (TMTT) unit, which is becoming increasingly important as a growth driver. This approval, which came sooner than expected, enhances confidence in the company’s ability to meet its 2025 sales targets for TMTT.
Despite these positive developments, the Hold rating reflects a balanced view, considering the deceleration in the transcatheter aortic valve replacement (TAVR) market. While the TMTT unit is expected to offset this slowdown, the overall growth prospects remain moderated. The focus on innovation and expansion in the TMTT portfolio positions Edwards Lifesciences well for future growth, but current market conditions suggest a cautious approach.
In another report released on April 11, Truist Financial also maintained a Hold rating on the stock with a $75.00 price target.