Bank of America Securities analyst Travis Steed has maintained their bullish stance on EW stock, giving a Buy rating on October 17.
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Travis Steed has given his Buy rating due to a combination of factors related to Edwards Lifesciences’ performance and prospects. The upcoming presentation of 7-year low-risk TAVR data is pivotal, with particular emphasis on cardiovascular mortality and stroke endpoints. These metrics are crucial as they could influence the TAVR market and Edwards Lifesciences’ market share. Despite some potential for variability, the expectation is that the status quo will be maintained, with doctors likely to continue treating low-risk patients as they have been.
Steed’s scenario modeling indicates a strong likelihood that TAVR will remain non-inferior to SAVR in terms of cardiovascular mortality and stroke over a 7-year period. Although there were slightly more strokes in the TAVR group at 6 years, a significant change would be needed to reach statistical significance at 7 years. Furthermore, TAVR’s minimally invasive nature is a compelling advantage, likely ensuring its continued preference among doctors and patients. All-cause mortality data, while showing more deaths in the TAVR group, is not expected to significantly impact the overall assessment, as these deaths are attributed to factors unrelated to the procedure itself.
In another report released on October 17, Evercore ISI also initiated coverage with a Buy rating on the stock with a $88.00 price target.
Based on the recent corporate insider activity of 98 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.