Health and Healthcare
Analysts in Defense of Edwards Lifesciences
Published:
Last Updated:
Edwards Lifesciences Corp. (NYSE: EW) is the big disappointment of the day on Tuesday after the company lowered its TAVI sales guidance for the third quarter. What is so interesting is that some analysts are defending Edwards due to the large drop with this being an attractive entry point.
Canaccord Genuity said it is lowering its price target to $109 but also said that it is defending Edwards:
… and would accumulate shares below $95/share near term as we remain believers in strong long-term revenue and EPS growth potential from future TAVI uptake … Our new TAVI estimates through 2015 still reflect strong growth, but we inject more conservatism to account for these factors. We think C-A approval will come soon.
Leering Swann said that this creates a rare buying opportunity for a stock that has tripled over the past four years or so. Some of the drop was even tied to rare doctor vacation seasonality with a broad rebound in the fourth quarter expected.
Even Lazard trimmed its target to $100 from $110 but said that any price under $90 represents an attractive entry point.
Edwards Lifesciences shares are down 18% at $87.90 against a 52-week range of $61.59 to $110.79 and the consensus target (may not include the drop today) is almost $106.70 per Thomson Reuters.
JON C. OGG
The thought of burdening your family with a financial disaster is most Americans’ nightmare. However, recent studies show that over 100 million Americans still don’t have proper life insurance in the event they pass away.
Life insurance can bring peace of mind – ensuring your loved ones are safeguarded against unforeseen expenses and debts. With premiums often lower than expected and a variety of plans tailored to different life stages and health conditions, securing a policy is more accessible than ever.
A quick, no-obligation quote can provide valuable insight into what’s available and what might best suit your family’s needs. Life insurance is a simple step you can take today to help secure peace of mind for your loved ones tomorrow.
Click here to learn how to get a quote in just a few minutes.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.