Canaccord Genuity Maintains a 'Buy' on Edwards Lifesciences (EW); Adjusting Estimates
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Price: $89.79 -0.04%
Rating Summary:
31 Buy, 14 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
31 Buy, 14 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Canaccord Genuity maintains a 'Buy' on Edwards Lifesciences (NYSE: EW) price target lowered from $90 to $86.
Analyst, Jason R. Mills, said, "While we continue to think TAVI will be a driver of strong revenue and EPS growth over the next several years, we do not think consensus estimates adequately reflect the near-term uncertainty regarding FDA approval timing for Cohort A. In sum, we think TAVI estimates (namely 2012E) need to come down modestly (as ours do today). If consensus follows suit over the next few weeks (as we expect), the stock could pullback to the $60-65 range, where we would be aggressive buyers."
"Our 2012 US SAPIEN estimate goes to $172M from $205M, OUS SAPIEN
estimate to $350M from $364M and WW to $522M from $568M. This compares to US and WW guidance of $200-260M and $560-630M, respectively...Our 2012/2013 EPS estimates go to $2.63/$3.15 (still reflect 26% CAGR) from $2.70/$3.25. 2012 EPS guidance is $2.70-2.80, but could change via approval
timing."
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 $68.43 yesterday.
Analyst, Jason R. Mills, said, "While we continue to think TAVI will be a driver of strong revenue and EPS growth over the next several years, we do not think consensus estimates adequately reflect the near-term uncertainty regarding FDA approval timing for Cohort A. In sum, we think TAVI estimates (namely 2012E) need to come down modestly (as ours do today). If consensus follows suit over the next few weeks (as we expect), the stock could pullback to the $60-65 range, where we would be aggressive buyers."
"Our 2012 US SAPIEN estimate goes to $172M from $205M, OUS SAPIEN
estimate to $350M from $364M and WW to $522M from $568M. This compares to US and WW guidance of $200-260M and $560-630M, respectively...Our 2012/2013 EPS estimates go to $2.63/$3.15 (still reflect 26% CAGR) from $2.70/$3.25. 2012 EPS guidance is $2.70-2.80, but could change via approval
timing."
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 $68.43 yesterday.
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