Edwards Lifesciences: Buy Rating Backed by Favorable TAVR Reimbursement Outlook and Asymptomatic Coverage Upside

William Blair analyst Brandon Vazquez has maintained their bullish stance on EW stock, giving a Buy rating on January 23.

Brandon Vazquez has given his Buy rating due to a combination of factors tied to the evolving TAVR reimbursement backdrop and Edwards Lifesciences’ positioning within it. He notes that, based on the tone and content of key medical society submissions, CMS appears inclined to expand national coverage to include asymptomatic aortic stenosis patients—a change he views as the most meaningful element of the current NCD review for Edwards’ growth prospects. Although the debate over procedural volume and other “burdensome” TAVR center requirements may slow the process and introduce some uncertainty, he interprets the specialty societies’ coordinated response as a favorable read‑through for broader patient access over time.

At the same time, Vazquez flags that the complexity of center‑level requirements could prompt CMS to convene a MEDCAC panel, which would extend the NCD timeline by roughly three months but not fundamentally alter his positive outlook. He draws on historical precedent from the 2018 MEDCAC focused on volume thresholds, when similar concerns did not prevent Edwards from accelerating TAVR adoption following low‑risk approval in 2019. In his view, the prospect of incremental addressable patients from asymptomatic coverage, combined with Edwards’ strong existing TAVR franchise and demonstrated ability to grow even under stringent policy frameworks, supports a favorable risk‑reward profile. As a result, he believes the stock remains attractive at current levels, justifying his Buy rating despite near‑term policy noise.

In another report released on January 23, Jefferies also reiterated a Buy rating on the stock with a $102.00 price target.

Based on the recent corporate insider activity of 105 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.