Edwards Lifesciences price target lowered to $68 from $73 at Baird

Baird lowered the firm’s price target on Edwards Lifesciences (EW) to $68 from $73 and keeps a Neutral rating on the shares. The firm said expectations were low heading into the print and the Q3 result/4Q/FY25 commentary didn’t give a sense that downside was in. While slowing Q4 TAVR trends stem from a few 1x-items, its difficult to disprove that TAVR growth won’t further decelerate in FY25.