Edward Lifesciences Down 9% Despite Q4 Beat

Edwards Lifesciences Corp ES shares are trading lower by $9.00 at $89.02 in Thursday's session.

Despite a Q4 EPS beat of $0.03 along with a revenue beat of $8.46 million, the issue is deep in the red. This could be the result of a downgrade by BTIG, who lowered their rating on the issue from Buy To Neutral.

Its much lower opening print of $92.16 has turned out to be only $0.03 from the high of the session at $92.19. The followthrough on the downside took the issue to $86.55, but rebounded back to the mid $89.00 handle before tailing off once again. That marks the lowest level for the issue since it bottomed on December 8 at $85.27.

The issue is attempting to avoid its first close under $90.00 since December 14, when it ended that session at $89.82.