Canaccord Genuity Reiterates a 'Hold' on Edwards Lifesciences (EW); Our TAVI Panelists Cautiously Optimistic
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Price: $87.97 -0.72%
Rating Summary:
23 Buy, 18 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 12 | New: 9
Rating Summary:
23 Buy, 18 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 12 | New: 9
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Canaccord Genuity reiterates a 'Hold' on Edwards Lifesciences (NYSE: EW) price target of $75.00.
Canaccord analyst, Jason R. Mills, said, "While we remain bullish about EW’s growth trajectory, margin profile and earnings potential overall, we continue to believe consensus estimates for SAPIEN – namely in the out years (2013-15) on which the stock derives nearly half its value in our estimation – are too high. We would be constructive near term on pullbacks in the $60-$62/share range."
"Key panelist thoughts included: Pace of rollout will be measured; center credentialing will take time; “Rational dispersion” of TAVI is clearly the overriding paradigm; SAPIEN trans-apical could face an uphill battle at FDA panel; If stroke doesn’t strike SAPIEN-TA, current economic data could; Use of embolic protection devices to combat stroke could become standard of care in TAVI long term; and Panelists expect patients to clamor for TAVI."
For an analyst ratings summary and ratings history on Edwards Lifesciences click here. For more ratings news on Edwards Lifesciences click here.
Shares of Edwards Lifesciences closed at $64.81 yesterday.
Canaccord analyst, Jason R. Mills, said, "While we remain bullish about EW’s growth trajectory, margin profile and earnings potential overall, we continue to believe consensus estimates for SAPIEN – namely in the out years (2013-15) on which the stock derives nearly half its value in our estimation – are too high. We would be constructive near term on pullbacks in the $60-$62/share range."
"Key panelist thoughts included: Pace of rollout will be measured; center credentialing will take time; “Rational dispersion” of TAVI is clearly the overriding paradigm; SAPIEN trans-apical could face an uphill battle at FDA panel; If stroke doesn’t strike SAPIEN-TA, current economic data could; Use of embolic protection devices to combat stroke could become standard of care in TAVI long term; and Panelists expect patients to clamor for TAVI."
For an analyst ratings summary and ratings history on Edwards Lifesciences click here. For more ratings news on Edwards Lifesciences click here.
Shares of Edwards Lifesciences closed at $64.81 yesterday.
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