Jefferies cuts Edwards Lifesciences to "hold" on growth concerns, shares fall

Edwards Lifesciences

18/09/2024 13:04

** Shares of medical device maker Edwards Lifesciences
 EW.N  fall 1.6% to $66.14 premarket  
    ** Jefferies downgrades EW to "hold" from "buy", cuts PT on
co to $70 from $85
    ** Brokerage expects near-term growth to remain held back by
intensifying competition, pricing pressures, and workflow
challenges
    ** EW has been struggling with weak demand for its
artificial heart valves used for minimally invasive heart
surgeries
    ** Brokerage says growth is expected to be "similarly
constrained" in H2
    ** Avg rating of 32 brokerages is close to equivalent of a
"hold", and their median PT is $75.50 - LSEG
    ** Up to last close, stock down ~12% YTD 

 (Reporting by Mariam Sunny in Bengaluru)
 ((Mariam.ESunny@thomsonreuters.com;))