Truist Securities Downgrades Edwards Lifesciences (EW) to Hold

Truist Securities analyst Richard Newitter downgraded Edwards Lifesciences (NYSE: EW) from Buy to Hold with a price target of $82.00 (from $110.00).

The analyst comments: "We D/G EW to HOLD (vs. BUY) on a lower '24-'25 rev growth & EPS outlook (our est.'s move lower) as EW contends w/ a slowing TAVR outlook (could take time to re-accel.) + some incremental acq. dilution in '25 from 2 new deals. We still see longer-term TMTT TAM & TAVR indication expansion prospects. But, the 2H24-2025 rev accel. pathway just took an unexpected step backwards in our view. W/out more confidence in rev/EPS upside to counter the (anticipated) EPS hit from the crit. care sale, we're reluctant to recommend EW on multiple re-expansion prospects alone---especially with the TAVR growth outlook slowing to MSD territory."

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 $86.95 yesterday.

You May Also Be Interested In

• Freedom Capital Starts Flutter Entertainment (FLUT) at Hold
• Boeing wins $121 million Navy contract for P-8A upgrades
• Incyte (INCY) PT Raised to $105 at Truist Securities