Edwards Lifesciences falls as Medtronic CoreValve threat weighs

Edwards Lifesciences (EW -5.2%) is under a bit of pressure today on the heels of Tuesday's update from Medtronic (MDT -0.9%) on the CoreValve system.

At issue are sales of EW's Sapien transcatheter heart valves. "The CoreValve is now expected by the end of April 2014," Jefferies' Raj Denhoy says, lowering estimates for EW "given the earlier share loss."

Analysts were already concerned about valve sales, with Leerink's Danielle Antalffy sounding a bit cautious after Q3 results were released on Monday: "Though [EW's] results were basically fine ... strong [overseas valve] sales offset [a] marginal U.S. [valve] miss."

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