Edwards Lifesciences price target lowered to $85 from $101 at RBC Capital

RBC Capital lowered the firm’s price target on Edwards Lifesciences to $85 from $101 and keeps an Outperform rating on the shares. The company’s Q2 results missed sales expectations and the management cut its 2024 4 operational revenue growth outlook to 8%-10% from the “high-end” of 8%-10% as new and fast-growing structural heart therapies are pressuring hospital workflows, driving Edwards Lifesciences to lower its 2024 worldwide TAVR outlook to 5%-7% from 8%-10%, the analyst tells investors in a research note.