Edwards Lifesciences Corporation (EW) is listed on NYSE and operates in the Medical - Devices industry (Healthcare sector).
Edwards Lifesciences Corporation provides products and technologies for structural heart disease, and critical care and surgical monitoring in the United States, Europe, Japan, and internationally. It offers transcatheter heart valve replacement products for the minimally invasive replacement of heart valves; and transcatheter heart valve repair and replacement products to treat mitral and tricuspid valve diseases. The company also provides the PASCAL and Cardioband transcatheter valve repair systems for minimally-invasive therapy. In addition, it offers surgical structural heart solutions, such as aortic surgical valve under the INSPIRIS name; KONECT RESILIA, a pre-assembled aortic tissue valved conduit for patients who require replacement of the valve, root, and ascending aorta; and HARPOON Beating Heart Mitral Valve Repair System for patients with degenerative mitral regurgitation. Further, the company provides critical care solutions, including advanced hemodynamic monitoring systems to measure a patient's heart function and fluid status in surgical and intensive care settings; and Acumen Hypotension Prediction Index software that alerts clinicians in advance of a patient developing dangerously low blood pressure. The company distributes its products through a direct sales force and independent distributors. Edwards Lifesciences Corporation was founded in 1958 and is headquartered in Irvine, California.
| Rating | Analysts |
|---|---|
| Strong Buy | 0 |
| Buy | 32 |
| Hold | 16 |
| Sell | 0 |
| Strong Sell | 0 |
Edwards Lifesciences Corporation, founded in 1958 and headquartered in Irvine, California, operates in the healthcare sector, specifically within the medical devices industry. The company specializes in products and technologies for structural heart disease, critical care, and surgical monitoring across the United States, Europe, Japan, and other international markets. Its offerings include transcatheter heart valve replacement and repair products for minimally invasive treatment of heart valve diseases, such as mitral and tricuspid valve conditions. The company also provides surgical structural heart solutions, including the INSPIRIS aortic surgical valve, KONECT RESILIA aortic tissue valved conduit, and the HARPOON Beating Heart Mitral Valve Repair System. In the critical care domain, Edwards Lifesciences offers advanced hemodynamic monitoring systems to assess heart function and fluid status in surgical and intensive care settings, along with the Acumen Hypotension Prediction Index software for early detection of low blood pressure. The company distributes its products through a combination of direct sales and independent distributors.
Over the past three fiscal years, the company has demonstrated robust revenue growth, achieving a consistent increase with a 10.0% CAGR from $5.01 billion in 2023 to $6.07 billion in 2025. Despite this top-line growth, profitability metrics have been mixed. The operating margin showed some volatility, decreasing by 1.5pp from 28.5% in 2023 to 26.9% in 2025, while the net margin experienced a more significant decline of 10.3pp, ending at 17.7%. This decline in net margin is noteworthy, especially given the substantial increase in net income per share in 2024, which was not sustained into 2025, as EPS fell from $6.97 to $1.83. On the cash generation front, the company has significantly improved its free cash flow, which grew at a 45.6% CAGR, reaching $1.34 billion in 2025, with a corresponding FCF margin expansion of 9.4pp to 22.0%. This indicates strong cash generation capabilities, supported by a high cash conversion ratio of 1.49, suggesting that earnings are well-backed by cash. The company's net cash position has also strengthened, with net debt decreasing from -$447 million to -$2.23 billion, reflecting a solid balance sheet. Additionally, the company has maintained efficient capital allocation, as evidenced by a declining capex intensity, which reached 4.3% in 2025, and a consistent decrease in the cash conversion cycle, indicating improved working capital management. Overall, while revenue and cash flow metrics are strong, the company faces challenges in maintaining consistent profitability and earnings per share growth.
Recent developments for Edwards Lifesciences center around upcoming financial results and significant trading activity. The company is set to release its Q1 earnings on April 23, 2026, with expectations being closely monitored by investors. In anticipation, Mirae Asset Global Investments increased its holdings in Edwards Lifesciences by 3% in the fourth quarter, now owning shares valued at approximately $5.47 billion. Similarly, Wellington Management Group expanded its position by acquiring nearly 978,000 additional shares, bringing its total to over 20.8 million shares valued at $1.62 billion. Conversely, Birch Hill Investment Advisors LLC reduced its stake by selling 13,385 shares, while insider trading activity saw VP Donald Bobo, Jr. and CFO Scott Ullem selling 22,680 and 13,000 shares, respectively, at an average price of $80 per share. These transactions, alongside the upcoming earnings report, are pivotal as they reflect strategic portfolio adjustments and investor sentiment ahead of the financial disclosure. Additionally, Edwards Lifesciences' EVOQUE system continues to show promising patient benefits, reinforcing its position in the medical research sector.