UPDATE: Goldman Sachs Lowers PT on Edwards Lifesciences Following Detailed Model Review
In a report published Thursday, Goldman Sachs analyst David H. Roman reiterated a Buy rating on Edwards Lifesciences Corp. (NYSE: EW), but lowered the price target from $112.00 to $106.00.
In the report, Roman noted, “Following a detailed review of our model and management's US transcatheter aortic valve repair (TAVR) guidance, we remain confident in the longer term US ramp of the SAPIEN product suite. In the near term, we are at the low end of the company's 2013 US TAVR guidance of $390-$440 million (GSe at $400 million), but recognize that a stronger uptick from the transapical population (FDA approved in 4Q2012) and new capacity could drive upside. On a longer term basis, we continue to think the company's suite of TAVR products will prove successful at driving adoption in less sick patient categories (and other non-diagnosed/non-treated populations), and view the total US TAVR addressable market as robust.”
Edwards Lifesciences Corp. closed on Wednesday at $81.69.
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