BTIG analyst Sean Lavin maintained a Hold rating on Edwards Lifesciences (NYSE: EW) on October 23. The company’s shares closed yesterday at $140.36.
Lavin observed:
“Q3 results and commentary were slightly less bullish than some previous reports with TAVR and Surgical Valves coming in below the Street. WW TAVR sales of $558M fell short of consensus’ $569M and continues to be lumpy and hard to predict on a quarterly basis. This is still a nice growth market but given the premium valuation, we may see shares sell off tomorrow. In Europe, mgmt pointed to share loss y/y but noted pricing stability sequentially. Results aside, the near-term TAVR outlook will also be clipped by more controlled launches of CENTERA and ULTRA as well as manufacturing changes for Cardioband. Overall, though we credit EW with a well-rounded mitral/tricuspid program (reaffirmed at TCT recently) with many shots on goal, our more cautious view on the company’s long-term growth is unchanged.”
According to TipRanks.com, Lavin is a 5-star analyst with an average return of 11.8% and a 59.8% success rate. Lavin covers the Healthcare sector, focusing on stocks such as Establishment Labs Holdings Inc, Helius Medical Technologies, and Tactile Systems Technology.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Edwards Lifesciences with a $160.10 average price target, which is a 14.1% upside from current levels. In a report issued on October 11, Northland Securities also maintained a Hold rating on the stock with a $120 price target.
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The company has a one-year high of $175 and a one-year low of $100.20. Currently, Edwards Lifesciences has an average volume of 1.58M.
Based on the recent corporate insider activity of 108 insiders, corporate insider sentiment is negative on the stock.
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Edwards Lifesciences Corp. engages in the patient-focused medical innovations for heart disease and critical care monitoring. It operates through the following geographical segments: United States, Europe, Japan, and Rest of the World. Its products are categorized into three areas: Surgical Heart Valve Therapy, Transcatheter Heart Valves, and Critical Care.
