Edwards Lifesciences Corporation
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Range $85 – $110
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About the company
Edwards Lifesciences Corporation is a global medical technology firm specializing in sophisticated products and technologies for structural heart conditions, alongside critical care and surgical patient monitoring. With operations spanning the United States, Europe, Japan, and various international territories, the company offers a comprehensive suite of solutions. Their structural heart disease portfolio encompasses transcatheter heart valve replacement systems designed for minimally invasive procedures, as well as transcatheter repair and replacement options specifically targeting mitral and tricuspid valve pathologies, exemplified by their PASCAL and Cardioband systems.
- CEO
- Bernard J. Zovighian
- IPO
- 2000
- Employees
- 16,000
- HQ
- Irvine, CA, US
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Similar companies
Peers in the same neighborhood.
- Market Cap
- $50.23B
- P/E
- 50.13
- Fwd P/E
- 29.07
- PEG
- -0.67
- P/S
- 7.71
- P/B
- 4.74
- EV/EBITDA
- 31.18
- Div Yield
- 0.00%
- Gross Margin
- 77.98%
- Op Margin
- 28.09%
- Net Margin
- 15.43%
- ROE
- 9.69%
- ROIC
- 10.20%
Latest fiscal year · YoY change
- Revenue
- $6.07B+11.5%
- Gross Profit
- $4.74B+9.7%
- Op Income
- $1.64B
- Net Income
- $1.07B-74.3%
- EPS
- $1.84-73.6%
- OCF Growth
- +194.2%
- FCF Growth
- +360.5%
- 52W High
- $96.29
- 52W Low
- $72.30
- 50D MA
- $88.48
- 200D MA
- $85.13
- Beta
- 0.85
- RSI (14)
- 49
- Avg Volume
- 3.85M
Earnings call summaries
Pick a quarter — each call distilled into takeaways, results, and a bull vs bear read.
Edwards Lifesciences posted stronger-than-expected Q2 sales growth, raised full-year revenue guidance, and said its TAVR, TMTT and Surgical portfolios are all contributing to durable long-term growth.· July 23, 2026
- Q2 total sales were $1.74 billion, up 12.5% year over year, with adjusted EPS of $0.78.
- TAVR sales were $1.3 billion, up 10.5%, helped by clinical momentum, stable pricing, competitor exit benefits, and expanding adoption of SAPIEN.
- TMTT sales were $195.9 million, up 44.8%, driven by strong demand across PASCAL, EVOQUE and SAPIEN M3.
- Surgical sales were $284 million, up 5%, supported by RESILIA therapies and early ECLIPTIS rollout plans.
- Management raised full-year 2026 sales guidance for the company, TAVR and TMTT, while reaffirming EPS guidance and pointing to operating margin expansion.
Total sales were $1.74 billion in Q2 2026, up 12.5% year over year. Adjusted EPS was $0.78, and adjusted gross margin was 77.6%, flat year over year; foreign exchange reduced gross margin by 70 basis points. TAVR sales were $1.3 billion, up 10.5%; TMTT sales were $195.9 million, up 44.8%; Surgical sales were $284 million, up 5%. For 2026, management raised total company sales growth guidance to 10% to 11% from 9% to 11%, TAVR growth guidance to 8% to 9% from 7% to 9%, and TMTT guidance to $760 million to $780 million from $740 million to $780 million. Edwards now expects 2026 total company sales of $6.6 billion to $6.9 billion, TAVR sales of $4.75 billion to $5 billion, and adjusted EPS of $2.95 to $3.05. Q3 guidance is sales of $1.63 billion to $1.71 billion and adjusted EPS of $0.71 to $0.77.
Bernard Zovighian framed the quarter as validation of Edwards’ structural heart strategy, saying the company is now showing growth across multiple therapies and regions rather than relying on one driver. He emphasized long-term durability of the portfolio, citing TAVR evidence and expanding adoption in TMTT and Surgical, and said the company’s strategy supports 10% average annual sales growth over the long term. His tone was confident and upbeat, with repeated comments that the team is executing well globally and that the business has multiple multiyear growth opportunities ahead.
Doretta Mistras highlighted strong top-line growth and earnings leverage, with $1.74 billion in sales, 12.5% growth, and adjusted EPS of $0.78. She said adjusted gross margin was 77.6%, flat year over year, but now expects full-year gross margin at the lower end of the 78% to 79% range because of foreign exchange; she also said full-year operating margin is still expected at the high end of the original 28% to 29% guidance, implying about 150 basis points of constant-currency expansion. She noted about $2.9 billion in cash and cash equivalents, approximately $1.5 billion remaining under the share repurchase authorization, and said the company expects 2026 adjusted EPS of $2.95 to $3.05 despite a tax rate now expected at the high end of the 16% to 19% range.
Analysts focused on whether TAVR growth was being driven by market expansion versus competitive share gains, the impact of the upcoming CMS NCD decision, the heterogeneity and potential adoption curve for PROGRESS, and what was driving TMTT strength, especially EVOQUE and PASCAL tricuspid. Management said TAVR growth was similar in the U.S. and outside the U.S., supported by SAPIEN evidence and some competitor exit benefit, while calling the NCD a potential tailwind for 2027 and beyond rather than a major 2026 driver. On PROGRESS, they said the baseline characteristics were highlighted to help investors understand a diverse moderate-AS population, and that any revenue impact would likely be gradual because practice change takes time. For TMTT, management said growth was broad-based across PASCAL, EVOQUE and M3, and that PASCAL tricuspid should add another layer of growth once approved, which they still expect in Q4.
The call showed broad-based momentum: TAVR, TMTT and Surgical all grew, and management raised full-year sales guidance for the company and two key product groups. Leadership also pointed to multiple upcoming catalysts, including the TAVR NCD decision, PROGRESS results, PASCAL tricuspid approval, next-generation PASCAL, and ECLIPTIS rollout, reinforcing a pipeline of incremental growth drivers. Management remained confident that the company can sustain 10% average long-term sales growth and expand margins.
Management acknowledged that second-half 2026 growth will face tougher comparisons, especially in Q3, and said underlying growth will be artificially lower versus the first half. Gross margin guidance was trimmed to the low end of the prior range due to foreign exchange, and the tax rate is expected to be at the high end of the 16% to 19% range because of Pillar Two timing and California R&D credit changes. On the clinical and commercial side, management repeatedly said PROGRESS and the NCD may take time to affect behavior and revenue, and that TAVR growth could have some quarter-to-quarter variability as new indications and launches work through adoption curves.
AI summary of the company's earnings call · Paraphrased · Not investment advice
- Free Float
- 98.7%
- Shares Outstanding
- 575.80M
- Float Shares
- 568.38M
of shares held by institutions
1,344 13F filers
Buy/sell ratio 0.43. Sells can include pre-scheduled 10b5-1 plan sales, not just discretionary selling.
Congressional trading
Senate and House stock disclosures for EW, newest first.
| Member | Type | Traded | |
|---|---|---|---|
| Alan ArmstrongSenate | Buy | Mar 27, 26 | Filing → |
| Ro KhannaHouse · CA17 | Buy | May 1, 26 | Filing → |
| Ro KhannaHouse · CA17 | Sell | Jan 13, 26 | Filing → |
| Josh S. GottheimerHouse · NJ05 | Sell | Nov 19, 25 | Filing → |
| Ro KhannaHouse · CA17 | Sell | Oct 7, 25 | Filing → |
| Jefferson ShreveHouse · IN06 | Sell | May 12, 25 | Filing → |
| Bruce WestermanHouse · AR04 | Sell | Apr 21, 25 | Filing → |
| Jefferson ShreveHouse · IN06 | Buy | Apr 7, 25 | Filing → |
| Robert P. BresnahanHouse · PA08 | Buy | Apr 8, 25 | Filing → |
| Bruce WestermanHouse · AR04 | Buy | Mar 3, 25 | Filing → |
| Ro KhannaHouse · CA17 | Buy | Oct 14, 24 | Filing → |
| Ro KhannaHouse · CA17 | Buy | Sep 9, 24 | Filing → |
| Ro KhannaHouse · CA17 | Buy | Sep 9, 24 | Filing → |
| Markwayne MullinSenate · OK | Sell | Aug 20, 24 | Filing → |
Source: public STOCK Act disclosures. Filed weeks after the trade — a lagging signal, not a real-time one.
Top institutional holders
Largest 13F positions, with quarter-over-quarter change.
| Holder | Shares | Δ Quarter |
|---|---|---|
| Vanguard Group Inc | 70.08M | ▼ 283.77K |
| Blackrock, Inc. | 58.79M | ▲ 6.20M |
| Vanguard Capital Management LLC | 37.62M | ▼ 111.84K |
| Vanguard Portfolio Management LLC | 26.41M | ▲ 4.38K |
| State Street Corp | 26.32M | ▲ 25.54K |
| Jpmorgan Chase & Co | 22.78M | ▲ 1.04M |
| Wellington Management Group Llp | 16.83M | ▼ 5.18M |
| Geode Capital Management, LLC | 15.44M | ▲ 2.30M |
| Bank Of New York Mellon Corp | 14.08M | ▼ 2.65M |
| Dz Bank AG Deutsche Zentral Genossenschafts Bank, Frankfurt Am Main | 13.00M | ▲ 191.06K |
| Ninety One Uk Ltd | 12.34M | ▼ 58.64K |
| Aristotle Capital Management, LLC | 8.67M | ▲ 8.67M |
Held by 2,064 ETFs
Biggest fund positions in EW by dollar value.
Recent insider transactions
Who's buying, who's selling, and how much.
| Date | Insider | Type | Shares |
|---|---|---|---|
| Sep 11, 26 | Markowitz Wayne | other | 355 |
| Sep 14, 26 | Markowitz Wayne | other | 568 |
| Sep 13, 26 | Dahl Andrew M. | other | 253 |
| Sep 11, 26 | Chopra Daveen | other | 398 |
| Sep 11, 26 | Lippis Daniel J. | other | 619 |
| Sep 11, 26 | Lippis Daniel J. | sell | 619 |
| Sep 11, 26 | Lippis Daniel J. | other | 619 |
| Aug 31, 26 | Dahl Andrew M. | sell | 544 |
| Aug 28, 26 | Bruls Annette | sell | 2,644 |
| Aug 26, 26 | Chopra Daveen | other | 31,800 |
A “Sell” may be a pre-scheduled 10b5-1 plan sale rather than a discretionary decision — read insider selling with that in mind.
Our EW coverage
Recent articles, reports, and earnings notes.
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Edwards Lifesciences to Host Investor Event in Conjunction With TCT
businesswire.com · Oct 5
Edwards Lifesciences Receives FDA Approval for AUTUS Valve, the First Surgical Pulmonary Valve for Pediatric Patients
businesswire.com · Oct 1
Is EW Overvalued? DCF Says Worth $40
gurufocus.com · Sep 30
Edwards Lifesciences Sees TAVR Expansion, $2B TMTT Opportunity Ahead
marketbeat.com · Sep 17
Edwards Lifesciences Corporation (EW) Presents at Deutsche Bank 2026 Healthcare Summit Transcript
seekingalpha.com · Sep 16
EW DCF Analysis: Intrinsic Value $53 vs Price $86
gurufocus.com · Sep 16
Edwards Lifesciences Comments on TAVR National Coverage Decision
businesswire.com · Sep 10
Did Edwards Lifesciences Corporation Insiders Breach their Fiduciary Duties to Shareholders?
prnewswire.com · Sep 7
Headlines from third-party outlets — TickerSpark isn't affiliated with these sources.
