These Analysts Slash Their Forecasts On Edwards Lifesciences Following Q2 Results

Edwards Lifesciences Corporation EW reported worse-than-expected second-quarter sales results and issued third-quarter guidance below estimates. Also, the company acquired JenaValve and Endotronix.

Edwards Lifesciences reported quarterly earnings of 70 cents per share which beat the analyst consensus estimate of 69 cents per share. The company reported quarterly sales of $1.632 billion which missed the analyst consensus estimate of $1.653 billion.

“Second quarter total company sales growth of 8 percent reflected strong contributions from our rapidly growing TMTT product group, offset by lower-than-expected growth in TAVR,” said Bernard Zovighian, CEO. “Edwards is well-positioned to deliver sustainable TAVR growth in 2025 and beyond, driven by advancements in our leading SAPIEN platform, indication expansions to much larger populations of patients, and improving patient access to this important therapy. Our vision for TMTT is becoming a reality, and our strategic commitment has developed into a growth portfolio of differentiated technologies. We are confident in Edwards’ strategy in structural heart supported by the broadening TAVR opportunity, accelerating contributions of our TMTT therapies, and our expanding portfolio of structural heart innovations that addresses the unmet needs of millions of patients around the world.”

Edwards Lifesciences shares fell 28.4% to trade at $62.29 on Thursday.

These analysts made changes to their price targets on Edwards Lifesciences following the announcement.

• Baird analyst David Rescott downgraded Edwards Lifesciences from Outperform to Neutral and slashed the price target from $102 to $70.
• JP Morgan analyst Robbie Marcus downgraded the stock from Overweight to Neutral and cut the price target from $105 to $72.
• B of A Securities analyst Travis Steed downgraded Edwards Lifesciences from Buy to Neutral, while cutting the price target from $105 to $75.
• Piper Sandler analyst Adam Maeder maintained the stock with a Neutral and lowered the price target from $88 to $73.
• Canaccord Genuity analyst William Plovanic maintained Edwards Lifesciences with a Hold and slashed the price target from $85 to $77.
• Oppenheimer analyst Suraj Kalia maintained the stock with an Outperform rating and lowered the price target from $100 to $90.
• Stifel analyst Rick Wise maintained the stock with a Hold and slashed the price target from $85 to $70.
• RBC Capital analyst Shagun Singh maintained Edwards Lifesciences with an Outperform rating, while cutting the price target from $101 to $85.
• Deutsche Bank analyst Pito Chickering maintained the stock with a Buy and lowered the price target from $103 to $85.
• Evercore ISI Group analyst Vijay Kumar maintained Edwards Lifesciences with an In-Line rating and cut the price target from $91 to $76.

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