In a report released yesterday, Josh Jennings from TD Cowen maintained a Hold rating on Edwards Lifesciences (EW – Research Report), with a price target of $75.00.
Josh Jennings has given his Hold rating due to a combination of factors related to the current state of Edwards Lifesciences’ market environment and clinical data. The recent findings from studies such as DETECT AS and EARLY TAVR suggest that while there is a growing recognition of the need for early diagnosis and treatment of severe aortic stenosis, the immediate impact on transcatheter aortic valve replacement (TAVR) volume growth is not expected to be significant.
These studies indicate a shift in clinical practice towards earlier intervention, which could eventually benefit Edwards Lifesciences. However, the anticipated changes in clinical approaches and the potential for increased intervention rates have not yet translated into immediate market growth. Therefore, Jennings maintains a Hold rating, reflecting a cautious outlook on the stock’s near-term performance despite the promising long-term clinical implications.
Jennings covers the Healthcare sector, focusing on stocks such as Alphatec Holdings, Boston Scientific, and Stereotaxis. According to TipRanks, Jennings has an average return of 1.9% and a 46.18% success rate on recommended stocks.
In another report released on March 20, Piper Sandler also maintained a Hold rating on the stock with a $73.00 price target.