Mike Kratky, an analyst from Leerink Partners, reiterated the Hold rating on Edwards Lifesciences (EW – Research Report). The associated price target remains the same with $77.00.
Mike Kratky has given his Hold rating due to a combination of factors including Edwards Lifesciences’ recent financial performance and market dynamics. The company reported first-quarter 2025 sales that slightly exceeded expectations, alongside adjusted earnings per share that also surpassed consensus estimates. Despite these positive indicators, Kratky remains cautious, particularly regarding the company’s Transcatheter Aortic Valve Replacement (TAVR) segment, which he describes as a ‘show me’ story for the remainder of the year.
While the U.S. TAVR growth showed resilience and the Transcatheter Mitral and Tricuspid Therapies (TMTT) segment continued to perform well, there are still concerns about cath lab capacity constraints and regional variability in TAVR sales. Management’s guidance and commentary suggest some of these issues may be improving, but Kratky prefers to remain on the sidelines until more consistent growth is demonstrated. Overall, the Hold rating reflects a balanced view of emerging positive trends against ongoing uncertainties.
EW’s price has also changed slightly for the past six months – from $70.350 to $75.130, which is a 6.79% increase.