In a report released today, Josh Jennings from TD Cowen maintained a Hold rating on Edwards Lifesciences, with a price target of $84.00.
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Josh Jennings has given his Hold rating due to a combination of factors related to Edwards Lifesciences’ recent data presentations and market performance. The company’s stock saw a notable increase following the release of the seven-year results from the Partner 3 trial, which showed that the performance of TAVR with Sapien 3 was statistically comparable to SAVR, contrary to some investor expectations of SAVR’s superiority.
Despite the positive reception of the data, including favorable one-year results for Sapien M3 and 30-day data for Evoque, the overall outcomes did not significantly alter the competitive landscape. The trial’s primary and secondary endpoints demonstrated comparable results between TAVR and SAVR, with no statistically significant differences in key metrics such as valve durability and reintervention rates. These findings suggest stability but not a decisive advantage, justifying a Hold rating as the market continues to assess the long-term implications of these results.
According to TipRanks, Jennings is a 3-star analyst with an average return of 1.1% and a 47.39% success rate. Jennings covers the Healthcare sector, focusing on stocks such as TransMedics Group, Medtronic, and Boston Scientific.
In another report released today, Canaccord Genuity also maintained a Hold rating on the stock with a $81.00 price target.