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IRVINE, Calif. - Edwards Lifesciences (NYSE:EW) announced its financial outlook for 2026, projecting constant currency sales growth of 8-10% and adjusted earnings per share of $2.80-$2.95, according to a company press release. The medical device maker, currently valued at approximately $48.7 billion, has demonstrated solid growth with revenue increasing 10.6% over the last twelve months.
The medical device maker expects its Transcatheter Aortic Valve Replacement (TAVR) business to generate sales between $4.6-$4.9 billion, representing 6-8% growth. Its Transcatheter Mitral and Tricuspid Therapies (TMTT) segment is forecast to grow 35-45% to $740-$780 million, while Surgical sales are projected to reach $1.05-$1.13 billion with mid-single-digit growth. The company maintains an impressive 78.19% gross profit margin, reflecting strong operational efficiency in its specialized medical device business.
Edwards also reaffirmed its previously increased 2025 guidance of total company constant currency sales growth at the high end of 9-10% and earnings per share of $2.56-$2.62. According to InvestingPro data, analysts expect the company to be profitable this year with an EPS forecast of $2.62 for fiscal 2025, aligning with management’s guidance. The stock currently trades at a P/E ratio of 36.84, reflecting the premium investors are willing to pay for Edwards’ growth prospects.
The company outlined plans to advance its portfolio of structural heart therapies, including the SAPIEN platform for aortic stenosis, PASCAL and EVOQUE systems for mitral and tricuspid valve treatments, and RESILIA tissue innovations for surgical applications.
"For the more than 20 million structural heart patients worldwide, we are continuing to bring novel and differentiated innovations and world-class evidence to transform care," said Bernard Zovighian, Edwards’ CEO.
Key upcoming milestones include FDA approval of the SAPIEN M3 mitral valve replacement system expected in early 2026, continued follow-up of the CLASP IIF trial studying the PASCAL system, and the launch of TRIFORMIS in the U.S. in the second half of 2026.
The company also highlighted its long-term growth targets, including approximately 10% average annual constant currency sales growth, with TMTT expected to reach $2 billion by 2030.
Edwards’ guidance for 2026 includes approximately 100 basis points of operating margin expansion at the midpoint and accounts for dilution from its planned JenaValve acquisition.
In other recent news, Edwards Lifesciences reported strong third-quarter financial results, with quarterly sales reaching $1,553 million, marking a 12.6% year-over-year adjusted growth. This performance exceeded Canaccord Genuity’s estimate of $1,489 million and consensus expectations of $1,498 million. The company also delivered adjusted earnings per share of $0.67, surpassing both Canaccord’s estimate of $0.58 and the consensus of $0.60. Following these results, Bernstein raised its price target for Edwards Lifesciences to $90.00 from $85.00, citing growth in the transcatheter aortic valve replacement (TAVR) business. Additionally, Raymond James upgraded the company’s stock rating to Outperform, setting a price target of $96.00, indicating a positive outlook. Piper Sandler reiterated an Overweight rating with a price target of $95.00, anticipating management will provide fiscal year 2026 guidance at the upcoming investor day. Meanwhile, UBS maintained its Neutral rating and $90.00 price target, noting improved sentiment due to recent TAVR data.
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