Deutsche Bank Maintains 'Hold' On Edwards Lifesciences (EW)
Friday, February 03, 2022 3:27 PM

Deutsche Bank (DB) maintained its "Hold" rating on Edwards Lifesciences Corp. (NYSE:EW), saying the shares already largely reflect the opportunity with transcatheter valves.

The bank, which has a price target of $75.00 on the stock, noted that Edwards' fourth-quarter results were weaker-than-expected on an operational perspective and EPS was helped by a reduced tax rate.

"While we believe transcatheter valves will be the longer term future, we believe that the near-term uptake may be less than the company expects driven by the lack of visibility in the CRM reimbursement, as well as other competitive dynamics," DB wrote in a note.

On Friday, the stock tumbled 11 percent to $71.73. The shares have been trading between $61.59 and $91.82 over the past year.