Edwards Lifesciences Corp
Edwards Lifesciences Corp designs and manufactures medical devices for treating structural heart disease, generating revenue primarily through the sale of transcatheter and surgical heart valve systems.
Business. Edwards Lifesciences Corp (NYSE: EW) is a healthcare company that designs, manufactures, and markets medical devices. The firm operates within the Medical Equipment & Supplies industry, focusing on the product-sale revenue model. It is headquartered in the United States and is primarily listed on the New York Stock Exchange. Specific operating segments and geographic breakdowns are not provided in the available data.
Analyst recommendations
32 analysts · consensus BuyAt a glance
What drives this business
The watch-list the newsroom runs for this company — derived from its sector path, sharpened layer by layer. Not investment advice.
News & coverage
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Developing storylines
Analysis
AI analysisOpportunity
Upcoming catalysts
Scheduled public events. Informational only — not investment advice.
- Company
- EarningsQ3 2026 earnings (expected)2026-10-28 · estimated
- Macro
- Rate decisionBank of England rate decision (press conf.)2026-08-06 · GB
- Rate decisionReserve Bank of Australia rate decision (press conf.)2026-08-12 · AU
- Rate decisionNorges Bank rate decision (press conf.)2026-08-20 · NO
- Rate decisionSveriges Riksbank rate decision (press conf.)2026-09-03 · SE
- Rate decisionBank of Canada rate decision (press conf.)2026-09-09 · CA
- Rate decisionEuropean Central Bank rate decision (press conf.)2026-09-10 · EU
- Macro & political
- ElectionSE Swedish Election2026-09-14 · SE
- ElectionUS U.S. Midterms2026-11-03 · US
- ElectionFR French Legislative2027-06-01 · FR
- Congressional trades
- CongressJosh Gottheimer — Edwards Lifesciences Corporation2025-11-19 · Democrat · NJ · Sale · $1,001 - $15,000
- CongressMike Kelly — Edwards Lifesciences Corporation2024-04-11 · Republican · PA · Sale · $1,001 - $15,000
- CongressJosh Gottheimer — Edwards Lifesciences Corporation2023-12-11 · Democrat · NJ · Purchase · $1,001 - $15,000
- CongressJohn Curtis — Edwards Lifesciences Corporation2023-12-04 · Republican · UT · Sale · $1,001 - $15,000
- CongressJohn Curtis — Edwards Lifesciences Corporation2023-06-21 · Republican · UT · Purchase · $1,001 - $15,000
- CongressZoe Lofgren — Edwards Lifesciences Corporation2023-05-25 · Democrat · CA · Sale · $1,001 - $15,000
Pre-earnings brief
Edwards Lifesciences Corp (EW) experienced a significant shift in institutional ownership activity, marked by a major modification in holdings by investor ID 587. This investor dramatically increased their position from 3,547 shares to 534,052 shares, representing a substantial rise in both share count and portfolio weight. The value of this holding surged from approximately $0.28 million to $42.77 million, with the weight in the investor's portfolio jumping from 0.00016% to 2.47%. This accumulation was detected on June 23, 2026, based on data as of March 31, 2026. The magnitude of the increase suggests a strong conviction play or a strategic entry by this specific holder, moving from a negligible stake to a notable position within the company's shareholder base. However, the data also reflects a subsequent reversal or correction in the reporting. A second major signal, detected on June 21, 2026, indicates the position reverted from 534,052 shares back down to 3,547 shares. This rapid fluctuation in reported holdings for the same investor ID and reporting period highlights volatility in the ownership data or a potential correction in the filing records. As this is the first analysis for this ticker, there is no prior basis for computing deltas against historical trends. Edwards Lifesciences remains a company with 35 top holders and membership in one index, but the specific activity of investor ID 587 underscores the importance of monitoring individual holder changes for potential market impact. The conflicting signals regarding the size of this position warrant close attention to future filings to determine the true extent of institutional interest.
Signals & dispatch
Composite-score breakdown
Synthesis
Edwards Lifesciences Corp (NYSE: EW) is a healthcare company that designs, manufactures, and markets medical devices. The firm operates within the Medical Equipment & Supplies industry, focusing on the product-sale revenue model. It is headquartered in the United States and is primarily listed on the New York Stock Exchange. Specific operating segments and geographic breakdowns are not provided in the available data.
Edwards Lifesciences maintains a highly conservative capital structure, evidenced by a debt-to-equity ratio of 0.06 and a current ratio of 4.42. The balance sheet holds $2.45 billion in cash and equivalents against only $598.5 million in long-term debt, providing substantial liquidity. However, Q1 2026 operating cash flow contracted sharply to $43.8 million from $280.4 million in the prior year period, driven by significant working capital outflows including a $347.1 million increase in accounts payable and accrued liabilities. Free cash flow turned negative at -$21.1 million due to $64.9 million in capital expenditures, marking a deviation from the strong cash generation seen in previous quarters.
Profitability metrics show a gross margin of 78.0% ($1.286 billion gross profit on $1.649 billion revenue), reflecting the high-value nature of its medical device portfolio. Operating income reached $477.6 million, yielding an operating margin of 29.0%, though this was impacted by $37.1 million in litigation expenses and a $123.6 million loss on impairment. Net income attributable to the company was $380.7 million, resulting in a return on equity of 10.39% and return on assets of 8.06%. The valuation multiples remain elevated, with a P/E of 44.32 and EV/EBITDA of 31.32, suggesting the market prices in significant future growth despite the current quarter's one-time charges.
Edwards Lifesciences Corp (EW) experienced a significant shift in institutional ownership activity, marked by a major modification in holdings by investor ID 587. This investor dramatically increased their position from 3,547 shares to 534,052 shares, representing a substantial rise in both share count and portfolio weight. The value of this holding surged from approximately $0.28 million to $42.77 million, with the weight in the investor's portfolio jumping from 0.00016% to 2.47%. This accumulation was detected on June 23, 2026, based on data as of March 31, 2026. The magnitude of the increase suggests a strong conviction play or a strategic entry by this specific holder, moving from a negligible stake to a notable position within the company's shareholder base. However, the data also reflects a subsequent reversal or correction in the reporting. A second major signal, detected on June 21, 2026, indicates the position reverted from 534,052 shares back down to 3,547 shares. This rapid fluctuation in reported holdings for the same investor ID and reporting period highlights volatility in the ownership data or a potential correction in the filing records. As this is the first analysis for this ticker, there is no prior basis for computing deltas against historical trends. Edwards Lifesciences remains a company with 35 top holders and membership in one index, but the specific activity of investor ID 587 underscores the importance of monitoring individual holder changes for potential market impact. The conflicting signals regarding the size of this position warrant close attention to future filings to determine the true extent of institutional interest.
- Q1 2026 revenue grew 16.7% YoY to $1.65 billion, driven by strong demand for structural heart disease solutions.
- Operating cash flow declined significantly to $43.8 million due to working capital pressures, resulting in negative free cash flow of -$21.1 million.
- The balance sheet remains robust with a 0.06 debt-to-equity ratio and $2.45 billion in cash, supporting aggressive share buybacks of $521.8 million in the quarter.
- One-time charges, including a $123.6 million impairment loss and $37.1 million in litigation expenses, impacted net income but did not deter overall earnings growth.
- Valuation multiples are high (P/E 44.32, EV/EBITDA 31.32), reflecting market expectations for continued innovation and market share gains in the medical device sector.
- Analyst consensus is bullish with a mean price target of $97.27, suggesting potential upside despite near-term cash flow volatility.
Bull / Bear case
Generated · model-assistedAnalysts project 17.4% upside to a mean price target of $96.19, reflecting strong market confidence in the company's future performance.
Net margin of 17.7% ranks above the 75th percentile of its peer group, highlighting robust bottom-line generation relative to competitors.
Cash conversion ratio of 1.49 exceeds the cohort median of 0.98, signaling strong ability to translate earnings into actual cash flow.
Medium dilution risk flags potential equity issuance that could erode existing shareholder value and reduce earnings per share.
In focus — financials by report
Revenue $1.65B; Operating income $477.6M.
- ▍Revenue $1.65B
- ▍Operating income $477.6M
- ▍Net margin 23.1%
Revenue $4.50B; Operating income $1.11B.
- ▍Revenue $4.50B
- ▍Operating income $1.11B
- ▍Net margin 21.8%
Revenue $2.94B; Operating income $806.0M.
- ▍Revenue $2.94B
- ▍Operating income $806.0M
- ▍Net margin 23.5%
Revenue $6.07B; Operating income $1.26B.
- ▍Revenue $6.07B
- ▍Operating income $1.26B
- ▍Net margin 17.7%
Revenue $5.44B; Operating income $1.38B.
- ▍Revenue $5.44B
- ▍Operating income $1.38B
- ▍Net margin 76.7%
Revenue $5.44B; Operating income $1.38B.
- ▍Revenue $5.44B
- ▍Operating income $1.38B
- ▍Net margin 76.7%
Revenue $1.35B; Net margin 226.7%.
- ▍Revenue $1.35B
- ▍Net margin 226.7%
Revenue $1.37B; Net margin 26.7%.
- ▍Revenue $1.37B
- ▍Net margin 26.7%
Valuation FY
Revenue by segment
Business relationships
Supply chain
Peer comparison
Market position
Stress test
Predictor forecast
| Metric | Our forecast | Guidance | Consensus |
|---|---|---|---|
| EPS | —no estimate | —no estimate | 2,98 |
| Revenue | —no estimate | —no estimate | 6,7B USD |
| Operating income | —no estimate | —no estimate | 1,9B USD |
Options
Short squeeze
Earnings-call key lines
Consensus distribution
sell-side coverageEstimate revisions
consensus EPS · 26-week trendSell-side observations
Themes
ESG
Risk factors
- Source documents mention dilution or offering risk.
Benchmarks vs cohort
Corporate actions / M&A
FX exposure
Comparable transactions
Derivatives & instruments
Derivative transactions
- CVP, JAPAC · Employee Stock Option (Right to Acquire) → Common StockDisposed 9 628 @ $74,02exercise · 2026-07-28
- CVP, TAVR · Employee Stock Option (Right to Acquire) → Common StockDisposed 619 @ $72,68exercise · 2026-07-10
- CVP, Chief Financial Officer · Employee Stock Option (Right to Acquire) → Common StockAcquired 61 800 @ $91,33grant · 2026-07-09
- CVP, Chief Financial Officer · Performance Rights → Common StockAcquired 12 325grant · 2026-07-09
- CVP, TAVR · Employee Stock Option (Right to Acquire) → Common StockDisposed 619 @ $72,68exercise · 2026-06-30
- CVP, TAVR · Employee Stock Option (Right to Acquire) → Common StockDisposed 620 @ $72,68exercise · 2026-05-18
- CVP,Strategy/Corp Development · Performance Rights → Common StockDisposed 13 457exercise · 2026-05-11
- Director, CEO · Performance Rights → Common StockDisposed 47 207exercise · 2026-05-11
- CVP, Chief Financial Officer · Performance Rights → Common StockDisposed 19 830exercise · 2026-05-11
- CVP, TMTT & Surgical · Performance Rights → Common StockDisposed 13 583exercise · 2026-05-11
- CVP, TAVR · Performance Rights → Common StockAcquired 7 850grant · 2026-05-07
- Director, CEO · Employee Stock Option (Right to Acquire) → Common StockAcquired 245 300 @ $82,76grant · 2026-05-07
- CVP, JAPAC · Performance Rights → Common StockAcquired 5 200grant · 2026-05-07
- CVP, JAPAC · Employee Stock Option (Right to Acquire) → Common StockAcquired 26 400 @ $82,76grant · 2026-05-07
- CVP,Strategy/Corp Development · Performance Rights → Common StockAcquired 7 850grant · 2026-05-07
- CVP, TAVR · Employee Stock Option (Right to Acquire) → Common StockAcquired 39 900 @ $82,76grant · 2026-05-07
- CVP,Strategy/Corp Development · Employee Stock Option (Right to Acquire) → Common StockAcquired 44 000 @ $82,76grant · 2026-05-07
- Director, CEO · Performance Rights → Common StockAcquired 43 800grant · 2026-05-07
Actions
Ask Handelsavisen
- Market data
- Regulatory filings
- Issuer disclosures
- Public news
- Earnings transcripts
- Consensus estimates
- ESG data
- Reference data
- Price To Tangible Bookmarket_price / (tangible_book_value / shares_outstanding_diluted)
- Price To Bookmarket_price / (adjusted_book_value / shares_outstanding_diluted)
- Return On Equitynet_income / total_equity
- Enterprise Valuemarket_cap - net_cash
- Ev To Revenueenterprise_value / revenue
- Net Cashcash_and_equivalents + short_term_investments - short_term_debt - long_term_debt
- Edwards Lifesciences Corp company facts · 2026-07-23
- Edwards Lifesciences Corp 10-Q 2026-05-06 · 2026-07-23
- Edwards Lifesciences Corp 10-K 2026-02-25 · 2026-07-23
- Edwards Lifesciences Corp 10-Q 2025-11-05 · 2026-07-23
- Edwards Lifesciences Corp 10-Q 2025-08-06 · 2026-07-23
- allocator_boost (allocator) on EW · 2026-07-23
- Edwards Lifesciences Corp Market data — analyst estimates · 2026-07-23
- Edwards Lifesciences Corp Market data — ESG · 2026-07-23
- Edwards Lifesciences Corp — company reference export (2026-07-05) · 2026-07-23
Ownership & reference
Top holders
- Investment Managers · as of 2026-03-310,72 %$1 046M
- Investment Managers · as of 2026-03-310,33 %$1 763M
- Institutional Investor · as of 2026-03-310,25 %$1 340M
- Institutional Investor · as of 2022-09-300,11 %$0M
- Investment Managers · as of 2024-06-300,11 %$4 709M
- Investment Managers · as of 2026-03-310,10 %$296M
- Investment Managers · as of 2025-12-310,09 %$5 974M
- Investment Managers · as of 2026-03-310,08 %$151M
- Investment Managers · as of 2026-03-310,07 %$2 106M
- Investment Managers · as of 2026-03-310,07 %$157M
- Investment Managers · as of 2024-12-310,07 %$235M
- Investment Managers · as of 2026-03-310,07 %$1 047M
- Investment Managers · as of 2026-03-310,06 %$466M
- Institutional Investor · as of 2026-03-310,06 %$1 161M
- Investment Managers · as of 2026-03-310,06 %$291M
- Funds · as of 2026-03-310,06 %$386M
- Brokerage Firms · as of 2026-03-310,05 %$178M
- Investment Managers · as of 2026-03-310,05 %$407M
- Institutional Investor · as of 2026-03-310,05 %$93M
- Investment Managers · as of 2026-03-310,04 %$285M
- Investment Managers · as of 2026-03-310,04 %$0M
- Investment Managers · as of 2026-03-310,04 %$205M
- Investment Managers · as of 2026-03-310,03 %$565M
- Investment Managers · as of 2026-03-310,03 %$56M
- Investment Managers · as of 2026-03-310,02 %$43M
- Investment Managers · as of 2026-03-310,02 %$28M
- Brokerage Firms · as of 2026-03-310,02 %$87M
- Investment Managers · as of 2026-03-310,02 %$66M
- Institutional Investor · as of 2026-03-310,01 %$56M
- Investment Managers · as of 2026-03-310,01 %$17M
- Investment Managers · as of 2026-03-310,01 %$28M
- Investment Managers · as of 2026-03-310,00 %$9M
- Investment Managers · as of 2026-03-310,00 %$11M
- Institutional Investor · as of 2026-03-310,00 %$6M
- Investment Managers · as of 2026-03-310,00 %$0M
Leadership
- Bernard J. ZovighianPresident, Chief Executive Officer
Insider activity
- CVP, JAPAC · Common StockSold 146 @ $86,03$13K · 2026-07-30
- CVP, JAPAC · Common StockOther 9 628 @ $74,02$713K · 2026-07-28
- CVP, JAPAC · Common StockSold 9 628 @ $85,06$819K · 2026-07-28
- Director, CEO · Common StockSold 2 921 @ $83,93$245K · 2026-07-27
- Director, CEO · Common StockOther 320 · 2026-07-27
- CVP, EMEACLA · Common StockOther 109 @ $92,21$10K · 2026-07-11
- CVP, TAVR · Common StockOther 619 @ $72,68$45K · 2026-07-10
- CVP, TAVR · Common StockSold 619 @ $91,70$57K · 2026-07-10
- CVP, Chief Financial Officer · Common StockOther 87 595 · 2026-07-09
- CVP, Chief Financial Officer · Common StockOther 12 325 · 2026-07-09
- CVP, TAVR · Common StockOther 377 @ $95,18$36K · 2026-07-07
- CVP, TAVR · Common StockSold 619 @ $91,40$57K · 2026-06-30
- CVP, TAVR · Common StockOther 619 @ $72,68$45K · 2026-06-30
- Director, CEO · Common StockSold 523 @ $87,92$46K · 2026-06-17
- SVP, Corporate Controller · Common StockSold 568 @ $86,08$49K · 2026-05-29
- CVP,Strategy/Corp Development · Common StockSold 23 145 @ $86,42$2,0M · 2026-05-27
- CVP, TMTT & Surgical · Common StockSold 1 500 @ $84,60$127K · 2026-05-22
- CVP, TAVR · Common StockOther 620 @ $72,68$45K · 2026-05-18
- CVP, TAVR · Common StockSold 620 @ $81,14$50K · 2026-05-18
- CVP,Strategy/Corp Development · Common StockSold 9 968 @ $82,07$818K · 2026-05-15
- CVP,Strategy/Corp Development · Common StockSold 8 000 @ $81,82$655K · 2026-05-15
- Director, CEO · Common StockSold 35 506 @ $77,92$2,8M · 2026-05-12
- Director, CEO · Common StockOther 26 640 · 2026-05-12
- Director, CEO · Common StockSold 845 @ $78,40$66K · 2026-05-12
- CVP,Strategy/Corp Development · Common StockOther 13 457 · 2026-05-11
Short positioning
Geographic breakdown
Intel & risk
Evidence & claims
From filings & derived data- Gross margin (FY 2025-12-31): 78.0%Derived (calculated)
- Debt-to-equity (FY 2025-12-31): 0.32xDerived (calculated)
- Capex (YoY) (2025-12-31 vs 2024-12-31): 3.1%Derived (calculated)
- Long-term debt (YoY) (2025-12-31 vs 2024-12-31): 0.1%Derived (calculated)
- Gross profit (YoY) (2025-12-31 vs 2024-12-31): 9.5%Derived (calculated)
- EPS (diluted) (YoY) (2025-12-31 vs 2024-12-31): -73.7%Derived (calculated)
- EPS (basic) (YoY) (2025-12-31 vs 2024-12-31): -73.6%Derived (calculated)
- Cash & equivalents (YoY) (2025-12-31 vs 2024-12-31): -3.5%Derived (calculated)
- Cost of revenue (YoY) (2025-12-31 vs 2024-12-31): 19.4%Derived (calculated)
- Net margin (FY 2025-12-31): 17.7%Derived (calculated)
- Return on equity (FY 2025-12-31): 10.4%Derived (calculated)
- Return on assets (FY 2025-12-31): 7.8%Derived (calculated)
- Current ratio (FY 2025-12-31): 3.72xDerived (calculated)
- Operating cash flow (YoY) (2025-12-31 vs 2024-12-31): 194.2%Derived (calculated)
- Operating income (YoY) (2025-12-31 vs 2024-12-31): -8.3%Derived (calculated)
- R&D expense (YoY) (2025-12-31 vs 2024-12-31): 2.5%Derived (calculated)
- Revenue (YoY) (2025-12-31 vs 2024-12-31): 11.5%Derived (calculated)
- Shareholders' equity (YoY) (2025-12-31 vs 2024-12-31): 3.4%Derived (calculated)
- Total assets (YoY) (2025-12-31 vs 2024-12-31): 4.9%Derived (calculated)
- Total liabilities (YoY) (2025-12-31 vs 2024-12-31): 12.3%Derived (calculated)
- Net income (YoY) (2025-12-31 vs 2024-12-31): -74.3%Derived (calculated)
- Gross profit (annual): USD 4.73BSEC XBRL filing
- Operating income (annual): USD 1.26BSEC XBRL filing
- EPS (basic) (annual): USD-PER-SHARES 2SEC XBRL filing