Edwards Lifesciences (EW) PT Raised to $172 at Wells Fargo

Wells Fargo analyst Larry Biegelsen raised the price target on Edwards Lifesciences (NYSE: EW) to $172.00 (from $170.00) while maintaining a Outperform rating.

Analyst comments: "Today (11/16), EW announced CE Mark approval for its next generation Sapien 3 Ultra transcatheter aortic valve replacement (TAVR) device. The timing is in-line with EW’s guidance on the Q3 call. Today’s press release states “Edwards previously discussed that it anticipates it will receive U.S. Food and Drug Administration approval for the SAPIEN 3 Ultra system around the end of 2018.” Our sense is EW did not reiterate the US timing today and we would not be surprised to see a slight delay in the US approval of Ultra. EW will provide an update at its investor day on 12/5."

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