UPDATE: Jefferies & Company Reiterates Buy Rating, Lowers PT on Edwards Lifesciences Corp.

In a report published Monday, Jefferies & Company reiterated its Buy rating on Edwards Lifesciences Corp.

, but lowered its price target from $125.00 to $100.00. Jefferies noted, “EW's 3Q miss was driven by TAVR weakness in the US due to timing around reimbursement, Cohort A approval, training, and seasonality; and Europe due to macroeconomic factors, as austerity cuts are negatively impacting procedures. Importantly, the underperformance in either geography does not appear related to structural factors or lower underlying demand. As such, we remain positive on the TAVR market opportunity. Maintain Buy.” Edwards Lifesciences Corp. closed on Friday at $86.14.