Marie Thibault, an analyst from BTIG, maintained the Buy rating on Edwards Lifesciences. The associated price target remains the same with $103.00.
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Marie Thibault has given her Buy rating due to a combination of factors related to the ongoing developments in the Transcatheter Aortic Valve Replacement (TAVR) national coverage analysis. The Centers for Medicare & Medicaid Services (CMS) has initiated a review of Edwards Lifesciences’ request to update the national coverage determination (NCD), which could potentially expand the use of TAVR to include asymptomatic patients and remove certain procedural barriers. This move aligns with Edwards’ strategic goals and could enhance the efficiency of existing centers while opening opportunities for new TAVR centers.
In addition, a survey conducted by BTIG indicates that a significant portion of doctors foresee an increase in TAVR procedures if the NCD is updated to include asymptomatic patients and remove the requirement for cardiac surgeons to participate intra-operatively. This potential update is expected to streamline logistics, reduce scheduling barriers, and simplify billing processes for current centers. The valuation of Edwards Lifesciences, with a price target based on projected earnings, further supports the Buy rating, considering the anticipated positive impact of these regulatory changes.
In another report released today, Bank of America Securities also maintained a Buy rating on the stock with a $103.00 price target.