Analyst Larry Biegelsen of Wells Fargo maintained a Buy rating on Edwards Lifesciences (EW – Research Report), with a price target of $80.00.
Larry Biegelsen has given his Buy rating due to a combination of factors that highlight the potential for growth in Edwards Lifesciences’ stock. The recent finalization of the National Coverage Decision (NCD) for the Evoque transcatheter tricuspid valve replacement is a significant development. This decision is more favorable than the initial proposal, as it expands the eligibility criteria, making it easier for patients to qualify for the procedure. This broader coverage is expected to drive adoption among Medicare beneficiaries, who represent a large portion of the target demographic for Evoque.
Furthermore, the initiation of the STRONG study, which is required for reimbursement, underscores the company’s commitment to evidence-based coverage. This study aims to enroll 2,000 patients and will provide valuable data on the effectiveness of the Evoque valve. With these strategic moves and the existing New Technology Add-on Payment (NTAP) in place, Biegelsen anticipates a significant increase in sales for Edwards Lifesciences, projecting a rise from $97 million in 2025 to $562 million by 2028. These factors collectively support the Buy rating, reflecting confidence in the company’s growth trajectory and market position.
EW’s price has also changed slightly for the past six months – from $67.260 to $70.900, which is a 5.41% increase.
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