In a report released yesterday, Larry Biegelsen from Wells Fargo maintained a Buy rating on Edwards Lifesciences (EW – Research Report), with a price target of $80.00.
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Larry Biegelsen has given his Buy rating due to a combination of factors including Edwards Lifesciences’ strategic initiatives and market positioning. The company has outlined a realistic growth forecast for its Transcatheter Aortic Valve Replacement (TAVR) segment, expecting a 5-7% growth rate, which aligns with current market trends. Additionally, the potential easing of regulatory restrictions could enhance operational efficiencies and improve hospital logistics, particularly if the surgeon requirement is removed from the National Coverage Determination (NCD).
Furthermore, Edwards Lifesciences is confident in its ability to achieve consistent margin improvements annually, irrespective of sales growth fluctuations, thanks to its effective currency hedging strategies. The upcoming results from the PROGRESS trial, which could demonstrate benefits for moderate aortic stenosis patients, add another layer of potential growth. Despite some challenges in cath lab capacities, larger TAVR centers have adapted to improve efficiencies, which supports the company’s optimistic outlook.
According to TipRanks, Biegelsen is a 5-star analyst with an average return of 8.7% and a 59.00% success rate. Biegelsen covers the Healthcare sector, focusing on stocks such as Dexcom, Abbott Laboratories, and Medtronic.
In another report released on May 23, Citi also maintained a Buy rating on the stock with a $95.00 price target.