Cautious Optimism for Edwards Lifesciences Amid Growth Strategy Reassessment
Josh Jennings from TD Cowen maintains a Hold rating on Edwards Lifesciences with a $90 price target. The company is reassessing its growth strategy, with improvements in TAVR volumes and new market indications. Despite positive signs, Jennings advises caution due to past growth concerns. The focus is on pipeline visibility and long-term growth, warranting a wait-and-see approach. Jennings has an average return of -0.5% and a 43.29% success rate, covering the Healthcare sector.
Josh Jennings, an analyst from TD Cowen, maintained the Hold rating on Edwards Lifesciences. The associated price target remains the same with $90.00.
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Josh Jennings has given his Hold rating due to a combination of factors surrounding Edwards Lifesciences. The company is at a pivotal moment, with its Investor Day providing an opportunity to bolster investor confidence in its growth strategy. While the TAVR volumes are stabilizing and there is potential for market growth through new indications, the overall growth trajectory is being reframed. This suggests a cautious optimism, as the company aims to address previous concerns about growth deceleration and capacity constraints.
Furthermore, the recent improvements in TAVR volumes and the positive impact of asymptomatic indications have restored some confidence. However, despite these encouraging signs, the need for sustained growth and the resolution of past uncertainties have led Jennings to maintain a Hold rating. The emphasis on pipeline visibility and long-term growth potential indicates that while there are promising developments, a wait-and-see approach is warranted to ensure these factors translate into consistent performance.
According to TipRanks, Jennings is an analyst with an average return of -0.5% and a 43.29% success rate. Jennings covers the Healthcare sector, focusing on stocks such as Medtronic, Boston Scientific, and Dexcom.
