Wolfe Research cuts Edwards Lifesciences to Peer Perform on macro, TAVR maturity

Wolfe Research analyst Mike Polark downgraded Edwards Lifesciences (EW) to Peer Perform from Outperform. The analyst cites the company’s two consecutive disappointing quarters catalyzing a "soul search", with bulls likely to attribute underperformance to the environment and bears concerned about TAVR market maturity. Polark adds that the truth is "probably in the middle", with U.S. TAVR center productivity slowing and with Abbott (ABT) and Boston Scientific (BSX) also expected to introduce TAVR products in 2023-2024.