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Investing.com - Truist Securities raised its price target on Edwards Lifesciences (NYSE:EW) to $87.00 from $82.00 while maintaining a Hold rating following positive clinical trial results presented at the Transcatheter Cardiovascular Therapeutics (TCT) conference. The medical device maker, with a market capitalization of $48 billion and impressive gross margins of 79%, is currently trading near its 52-week high of $83.InvestingPro analysis reveals 12 additional key insights about Edwards Lifesciences’ financial health and valuation metrics.
The medical device company’s Partner 3 trial showed 7-year results that did not demonstrate statistically significant inferiority for transcatheter aortic valve replacement (TAVR) compared to surgical aortic valve replacement (SAVR), providing reassurance to surgeons regarding their existing treatment algorithms for low-risk patients.
Edwards also presented positive data from its ENCIRCLE trial, which is expected to support the company as first to market in 2026 with a transcatheter mitral valve replacement (TMVR) option for patients with mitral regurgitation.
Additional positive registry data on 1,000 patients for Edwards’ EVOQUE Tricuspid Replacement valve was also highlighted during the conference presentations.
Truist Securities indicated the price target increase reflects a roll-forward to 2027 estimated earnings per share, though the firm maintained its Hold rating pending "greater conviction out-year EPS upside conviction or bigger revenue acceleration to argue for a higher multiple."
In other recent news, Edwards Lifesciences reported positive outcomes from its clinical trials on mitral and tricuspid valve therapies. The ENCIRCLE trial, involving 299 patients, showed successful results in safety and effectiveness, achieving a 95.7% elimination of significant mitral regurgitation. Additionally, Edwards Lifesciences released seven-year data from the PARTNER 3 trial, indicating that their transcatheter aortic valve replacement (TAVR) with the SAPIEN 3 valve performs comparably to surgical aortic valve replacement in low-risk patients. The findings were presented at the Transcatheter Cardiovascular Therapeutics symposium and published in The New England Journal of Medicine. Despite these promising results, Oppenheimer downgraded Edwards Lifesciences from Outperform to Perform due to structural concerns, though they noted potential upside in the TAVR business for 2025. Meanwhile, Piper Sandler maintained an Overweight rating on the company, focusing on the anticipated results from the PARTNER 3 study. These developments highlight ongoing interest and scrutiny in Edwards Lifesciences’ valve technologies.
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