Raymond James says Edwards’ EARLY TAVR data also positive for Medtronic, Abbott

Raymond James notes that investigators presented EARLY TAVR data at the transcatheter Cardiovascuar Therapeutics confidence. The trial studied the use of Edwards Lifesciences’ (EW) TAVR valve in patients with asymptomatic aortic stenosis, compared to clinical surveillance. The data demonstrated that for the primary endpoint of death, stroke, and hospitalization, early TAVR intervention was superior to clinical surveillance. The firm notes that the largest contributor to the endpoint was the reduction in cardiovascular-related hospitalization. Raymond anticipates a label expansion from the FDA by year-end, and estimates that this adds a 400K patient population to the U.S. addressable market. The firm views this data as positive for a TAVR category that has seen growth decelerate over the last year. Market Perform-rated Edwards is the obvious beneficiary, but this data should also help Medtronic (MDT) and Abbott (ABT), to a lesser extent, Raymond adds.