Edwards Lifesciences, the Healthcare sector company, was revisited by a Wall Street analyst yesterday. Analyst Travis Steed from Bank of America Securities maintained a Buy rating on the stock and has a $90.00 price target.
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Travis Steed’s rating is based on the positive long-term data from Edwards Lifesciences’ transcatheter aortic valve replacement (TAVR) procedures. The seven-year results presented at the TCT conference demonstrate that TAVR remains noninferior to surgical aortic valve replacement (SAVR) in terms of all-cause death, stroke, and cardiovascular mortality rates. This data alleviates concerns about the effectiveness of TAVR in low-risk patients, supporting its continued use in this demographic.
Moreover, the stability of key metrics such as mean gradient and aortic valve area over seven years indicates the durability of TAVR valves. Despite a slightly higher incidence of clinical valve thrombosis in TAVR compared to SAVR, this has not led to increased rates of death or stroke. The expectation of strong earnings growth and promising pipeline opportunities further reinforces the Buy rating, with a price objective set at $90.00 USD.
According to TipRanks, Steed is a 4-star analyst with an average return of 5.8% and a 57.66% success rate. Steed covers the Healthcare sector, focusing on stocks such as Boston Scientific, Intuitive Surgical, and Medtronic.