Leerink Swann Analyst Reiterates Outperform Rating on Edwards LifeSciences Corp (EW)


Leerink Swann analyst Danielle Antalffy reiterates an Outperform rating on Edwards Lifesciences Corp (NYSE:EW) following the company’s better than-expected sales report, marking the company’s 9th consecutive quarter of sales outperformance.

The analyst raises her price target to $130.00 from $125.00.

The analyst states: “With THV now over 55% of total EW sales and projected to grow at a midteens sales CAGR over the 2015-2021 timeframe, THV is key to the long-term EW growth story. And with the expected Intermediate Risk approval moved up yet again to sometime in 3Q16, the near- to medium-term growth outlook improves even further, with potential for incremental upside from rapid adoption in this much-larger indication representing the size of at least high risk + inoperable combined.”

To the analyst, better-than-expected growth over 9 consecutive quarters, despite increasing competition both in the U.S. and Europe, signifies that the TAVR market is clearly growing faster than expected, and EW’s Sapien 3 is “best-in-class,” with “data demonstrating overwhelming superiority vs. surgery in intermediate risk patients.”

The analyst is ranked #184 of 4,083 analysts on TipRanks, She maintains a success rate of 78% with an average return of 12.4%.

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