Edwards Lifesciences (EW)
Builds catheter-based and surgical heart-valve systems led by the SAPIEN TAVR platform.
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Sells catheter-delivered and surgical devices for aortic, mitral, and tricuspid valve disease, led by SAPIEN TAVR systems and supported by PASCAL, EVOQUE, SAPIEN M3, and RESILIA-tissue surgical valves. TAVR generates most revenue, while approvals, reimbursement, and procedure-level clinical support shape adoption.
Develops catheter-based and surgical devices for structural heart disease. The SAPIEN family anchors transcatheter aortic valve replacement; PASCAL repairs mitral and tricuspid valves, while EVOQUE and SAPIEN M3 replace them. INSPIRIS, KONECT, and MITRIS surgical valves use RESILIA tissue, and Cordella extends the portfolio into implantable pulmonary-artery pressure monitoring for heart failure.
Builds adoption through iterative device design, clinical evidence, physician training, and field specialists who support hospital procedures. The United States is the largest market, with substantial business across Europe, Japan, and other regions. TAVR supplies most revenue, leaving results concentrated in the SAPIEN platform. Commercial access depends on regulatory approvals, hospital reimbursement, clinician adoption, and reliable manufacturing of tissue-based valves.
Company facts
Target rangeAs of Sep 21, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Jul 28, 2026 | UBS | Upgrade | Target: $94 | Target: $110 |
| Jul 24, 2026 | Piper Sandler | Reiterate | Rating: —Target: $100 | Target: $101 |
| Jul 24, 2026 | Leerink Partners | Upgrade | Target: $138 | Target: $101 |
| Jul 16, 2026 | Truist Financial | Target | Target: $90 | Target: $95 |
| Jul 13, 2026 | RBC Capital | Reiterate | Rating: —Target: $100 | Target: $110 |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $4.25B · Total debt $704.4M · Total assets $13.87B · Shareholders' equity $10.62B
- Revenue
- $1.74B
- Operating income
- $519.5M
- Net income
- $241.9M
No dividends on record.
| Institutions | 91.26% | 525.46M shares | |
|---|---|---|---|
| 1,373 holders · as of Jun 30, 2026 | |||
| Insiders | 0.16% | 893.8K shares | |
| 18 holders · as of Sep 14, 2026 | |||
| Other | 8.58% | 49.45M shares | |
| remainder | |||
575.80M company shares as of Aug 31, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
BlackRock, Inc.Institution | 10.21% | 58.79M | as of Jun 30, 2026 |
Vanguard Capital Management LLCInstitution | 6.53% | 37.62M | as of Jun 30, 2026 |
Vanguard Portfolio Management LLCInstitution | 4.59% | 26.41M | as of Jun 30, 2026 |
State Street CorpInstitution | 4.57% | 26.32M | as of Jun 30, 2026 |
JPMorgan Chase & CoInstitution | 3.96% | 22.78M | as of Jun 30, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Sep 11, 2026 | Daniel J. Lippis | officer: CVP, TAVR | −619 | $87.51 |
| Aug 31, 2026 | Andrew M. Dahl | officer: SVP, Corporate Controller | −544 | $91.06 |
| Aug 28, 2026 | Annette Bruls | officer: CVP, EMEACLA | −2,644 | $89.98 |
| Aug 26, 2026 | Daveen Chopra | officer: CVP, TMTT, Surgical & IHFM | −31,800 | $91.02 |
| Aug 26, 2026 | Wayne Markowitz | officer: CVP, JAPAC | −1,240 | $91.47 |
