As previously reported, Wells Fargo upgraded Edwards Lifesciences (EW) to Overweight from Equal Weight with a price target of $94, up from $75. Edwards announced FDA approval of its Evoque transcatheter tricuspid replacement device, making it the first transcatheter tricuspid device approved in the U.S., the analyst tells investors. The approval came ahead of Abbott ‘s (ABT) TriClip, which is “a surprise” given the pivotal TriClip data was presented before the pivotal Evoque data, the analyst added. Given the earlier-than-expected Evoque U.S. approval, the firm is raising its worldwide tricuspid estimates in 2024-2028 for Edwards while also citing the delay in Boston Scientific’s (BSX) Neo2 TAVR device in its upgrade.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See Insiders’ Hot Stocks on TipRanks >>
Read More on EW:
- Early notable gainers among liquid option names on January 31st
- Edwards Lifesciences price target raised to $82 from $80 at RBC Capital
- Edwards Lifesciences downgraded to In Line from Outperform at Evercore ISI
- Edwards Lifesciences price target raised to $84 from $78 at Truist
- Citi entering 2024 ‘cautiously optimistic’ on U.S. MedTech companies