Edwards Lifesciences downgraded to Underperform at Wolfe Research

Wolfe Research downgraded Edwards Lifesciences (EW) to Underperform from Peer Perform with a $60 price target The firm says its core transcatheter aortic valve replacement market share concerns have increased since discovery of FDA information suggesting further deterioration in mortality data at six years in the Partner 3 trial. Also, after another material miss and lower cycle in 2024 that brought the Street closer to Wolfe’s prior thinking, the firm’s out-year estimate variance versus Street has grown again, the analyst tells investors in a research note.