Analyst William Plovanic of Canaccord Genuity maintained a Hold rating on Edwards Lifesciences (EW – Research Report), boosting the price target to $75.00.
William Plovanic has given his Hold rating due to a combination of factors surrounding Edwards Lifesciences’ current market position and future prospects. The company’s recent financial performance showed revenues aligning with expectations, and management maintained their guidance for future growth. However, while there is potential for growth in the TAVR segment with expected label expansion, the immediate impact may be limited as many patients progress to symptomatic stages quickly.
Additionally, the TMTT segment is experiencing growth, supported by recent regulatory developments, which could enhance patient access. Despite these positive aspects, there are challenges such as currency fluctuations and the impact of the JenaValve acquisition on earnings per share. These factors contribute to a cautious outlook, justifying the Hold rating while acknowledging the potential for future growth.
In another report released yesterday, Robert W. Baird also maintained a Hold rating on the stock with a $75.00 price target.
Based on the recent corporate insider activity of 123 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of EW in relation to earlier this year.