Medtronic CoreValve approval timing in-line with guidance, says Wells Fargo

Wells Fargo noted that Medtronic's (MDT) receipt today of FDA approval for its CoreValve for patients at high risk is in-line with the company's timing guidance. Wells expects that Edwards Lifesciences (EW) should get FDA approval for its Sapien XT this month, which should level the playing field between the two, and the firm thinks both approvals should expand the overall TAVR market in the U.S. Wells has Outperform ratings on both Medtronic and Edwards.

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