After having attended the ACC meeting where data was presented from the SMART head-to-head trial comparing Medtronic’s (MDT) Evolut PRO+ to Edwards Lifesciences (EW) in TAVR patients with small annuli, Jefferies noted that the magnitude of the difference in bioprosthetic valve dysfunction, or BVD, was greater than expected. The firm views the data as “a modest win” for Medtronic and “an incremental negative” for Edwards and thinks this could help Medtronic gain some share, at least in small annulus. The firm has a Hold rating and $95 price target on Medtronic shares.
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