Edwards Lifesciences (EW) is set to benefit from a national coverage determination update in the use of transcatheter aortic valve replacement for aortic stenosis in asymptomatic patients, RBC Capital Markets said in a Thursday note.

"The TAVR NCD proposed decision memo due by 6/15 is a notable upcoming catalyst that we expect to be positive for EW and the broader TAVR space," the report said.

RBC's physician checks suggest coverage changes could drive about 5% growth in national procedure volumes, with the single-operator shift being the most impactful component for procedure efficiency along with site expansion, the note said.

"Combined with the ACC/AHA guideline update (expected by AHA meeting in Nov'26), we see a favorable setup for TAVR growth acceleration into 2027," the report said. AHA refers to the American Heart Association, and ACC to American College of Cardiology.

RBC kept its outperform rating and a $100 price target.

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