Procore stock price target raised to $90 from Goldman Sachs on stabilizing growth
Investing.com - Bernstein raised its price target on Edwards Lifesciences (NYSE:EW) to $90.00 from $85.00 on Monday, while maintaining a Market Perform rating following the company’s strong quarterly results. The stock currently trades at $82.45, just 5.3% below its 52-week high of $87.09, with analysts setting targets ranging from $83 to $105. According to InvestingPro data, Edwards carries a relatively high P/E ratio of 36.07.
Edwards Lifesciences delivered 12.6% organic top-line growth in Q3, beating consensus estimates by 4% with better-than-expected performance across all business segments. This performance aligns with the company’s 10.6% revenue growth over the last twelve months, reaching $5.88 billion. The company’s transcatheter aortic valve replacement (TAVR) business accelerated to over 10% growth.
The medical device maker reported adjusted earnings per share of $0.67, exceeding consensus expectations of $0.60 by 11.5%. Strong results were seen across all divisions, with TAVR beating estimates by 4.5%, transcatheter mitral and tricuspid technologies (TMTT) by 3%, and Surgical by 1.5%.
Bernstein analyst Lee Hambright noted progress in the company’s TMTT segment, highlighting that the SAPIEN M3 valve received CE mark approval in April with excellent initial clinical outcomes reported.
At the Transcatheter Cardiovascular Therapeutics (TCT) 2025 conference, Edwards reported that its ENCIRCLE mitral trial for SAPIEN M3 met both primary and secondary endpoints, while a 1,000+ patient real-world study of EVOQUE demonstrated high levels of tricuspid regurgitation elimination with improved safety outcomes compared to pre-market trials.
In other recent news, Edwards Lifesciences reported strong financial results for the third quarter of 2025. The company achieved quarterly sales of $1.553 billion, marking a 12.6% year-over-year adjusted growth, which exceeded both Canaccord Genuity’s estimate of $1.489 billion and the consensus expectations of $1.498 billion. Edwards Lifesciences also delivered adjusted earnings per share of $0.67, surpassing Canaccord’s estimate of $0.58 and the consensus of $0.60. Additionally, Raymond James upgraded Edwards Lifesciences from Market Perform to Outperform, setting a price target of $96.00. This upgrade reflects the firm’s view that there are "fewer reasons to be neutral" on the company. Canaccord Genuity also raised its price target for Edwards Lifesciences to $84.00 from $81.00 while maintaining a Hold rating. These developments highlight the company’s strong performance and positive reception from analysts.
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