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 that highlight the promising outlook for Edwards Lifesciences. One key reason is the long-term durability of TAVR (transcatheter aortic valve replacement) procedures, with data now extending to 10 years, which positions TAVR as equivalent to traditional surgery. This advancement is expected to expand its use among asymptomatic and younger patients, thereby increasing physician referrals and establishing TAVR as the standard of care for aortic stenosis.
Additionally, the potential reopening of the national coverage decision by CMS (Centers for Medicare Services) is anticipated to broaden TAVR’s accessibility. The growth of TAVR is projected to be significant, supported by its expansion to over 900 centers and the potential for new indications. Furthermore, the company’s strong long-term revenue growth and double-digit EPS growth outlook reinforce the Buy rating, despite the challenges associated with treating mitral and tricuspid diseases.
Steed covers the Healthcare sector, focusing on stocks such as Intuitive Surgical, Boston Scientific, and Penumbra. According to TipRanks, Steed has an average return of 7.0% and a 60.00% success rate on recommended stocks.
In another report released on December 2, Piper Sandler also maintained a Buy rating on the stock with a $95.00 price target.