Deutsche Bank Maintains Hold on Edwards Lifesciences

Deutsche Bank is out with its report today on Edwards Lifesciences EW, maintaining Hold. In a note to clients, Deutsche Bank writes, "On July 20, a FDA Advisory Committee will review Edwards' PMA for SAPIEN in inoperable patients based on the PARTNER trial Cohort B results. We believe EW shares could trade lower as the briefing materials are released (which could come later this week) as there are likely to be many questions raised. However, we ultimately expect the Panel to recommend approval which we believe is the Consensus view and reflected in EW shares/valuation hence our Hold rating." Deutsche Bank maintains an $85 PT on EW. Shares of EW closed Monday at $90.13.