Analyst Travis Steed from Bank of America Securities maintained a Buy rating on Edwards Lifesciences and keeping the price target at $103.00.
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Travis Steed has given his Buy rating due to a combination of factors surrounding Edwards Lifesciences’ current and future prospects. A key element is the reopening of the national coverage analysis (NCA) for transcatheter aortic valve replacement (TAVR) by CMS, which is expected to potentially expand coverage to include asymptomatic patients. This move could significantly increase the number of patients eligible for TAVR, thereby boosting Edwards Lifesciences’ market potential.
Additionally, the company’s proactive steps in requesting the reconsideration of the NCD to remove outdated and burdensome requirements could alleviate current barriers to patient care. This, coupled with the company’s strong financial performance, as evidenced by its double-digit EPS growth, positions Edwards Lifesciences as a compelling investment opportunity. The anticipated changes in coverage and the company’s strategic initiatives suggest a positive outlook, justifying the Buy rating.
Steed covers the Healthcare sector, focusing on stocks such as Boston Scientific, Medtronic, and Edwards Lifesciences. According to TipRanks, Steed has an average return of 7.8% and a 58.30% success rate on recommended stocks.
In another report released on December 12, Citi also maintained a Buy rating on the stock with a $101.00 price target.