JPMorgan sees Edwards stock performance to be driven by TMVR, not TAVR
JPMorgan analyst Michael Weinstein said he has "no concerns" about the transcatheter aortic valve replacement, or TAVR, market, which he expects to accelerate both in the U.S. and outside of it from Q3 to Q4. He added that he views all of the talk about the health of the TAVR market following Edwards Lifesciences' quarter as "nonsense." That said, progress on the mitral side, or TMVR, will dictate Edwards' stock performance over the next 12 months, not TAVR, Weinstein tells investors. The TMVR market may be closer than thought and the answer to the question of whether CardiAQ will be ready for approval in Europe by the end of 2018 "has huge implications for the stock," said Weinstein, who lowered his price target on Edwards shares to $120 from $135 but keeps an Overweight rating on the stock.