Josh Jennings, an analyst from TD Cowen, maintained the Hold rating on Edwards Lifesciences. The associated price target was raised to $84.00.
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Josh Jennings has given his Hold rating due to a combination of factors surrounding Edwards Lifesciences’ recent performance and market position. The company reported strong second-quarter results, surpassing both top- and bottom-line expectations, and adjusted its full-year guidance positively. The Transcatheter Aortic Valve Replacement (TAVR) unit showed a 7.8% growth in constant currency, with balanced contributions from both the U.S. and international markets, suggesting a stable global market share.
Despite these positive outcomes, the Hold rating reflects a cautious stance, likely due to the company’s gross margin falling slightly below market expectations. While the adjusted operating margin and earnings per share exceeded projections, the overall assessment suggests that while the company is performing well, there may be limited immediate upside potential in the stock price, justifying a Hold rather than a Buy recommendation.
In another report released on July 16, Robert W. Baird also maintained a Hold rating on the stock with a $78.00 price target.
Based on the recent corporate insider activity of 101 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.