Edwards Lifesciences Corp Dossier
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SectorHealth Care IndustryHealth Care Equipment Beta (adjusted)0.90 Intrinsic Value $74.93median of 6 methods · middle span $55-$96based on filings through 30 Jun 2026 Market Price $85.19Price as of 1 Oct 2026 Near fair valueIntrinsic value is 12% below the market price −50% · IV below pricenear fair value ±15%IV above price · +50% Data confidence Sign in to view data confidence Market Cap $49.1B Enterprise Value $46.8B Shares Outstanding 577.1M diluted Moat Rating Wide Next Earnings Date28 Oct 2026 All prices and values are periodic snapshots, not live quotes. Source dates are shown for reference. ThesisStreet consensus, scenarios, merits, risks, and invalidation triggers Thesis Summary Edwards entered the second half of 2026 with broad structural-heart momentum: second-quarter constant-currency sales grew 12.5%, TAVR grew 10.5%, and TMTT grew 44.8%. Management raised its 2026 company, TAVR, and TMTT outlook while maintaining adjusted EPS guidance. The investment case nevertheless depends on execution against demanding second-half expectations and several regulatory and clinical catalysts. Assigning a defensible 12-month price target would violate the provenance requirement; the recommendation is therefore Hold pending valuation confirmation and catalyst delivery. This section is the 12-month view: analyst targets and the probability-weighted scenarios built from them. The intrinsic value at the top of this page answers a different question: what the business is worth today. Street view · analyst 12-month targets Low · most bearish analyst$84.00 Mean target$100.96 High · most bullish analyst$110.00 Street targets sit above today's price; our intrinsic value sits below it. Different horizons, different questions. Our research · scenarios, merits, risks, and invalidation triggersResearch as of 2 Sep 2026 Scenarios · 12-month scenario targets Bear CaseDownside scenario $84.0017% TAVR growth falls below the raised range, TMTT adoption slows, or the CMS, PASCAL, PROGRESS, and CLASP IITR milestones are delayed or disappoint. Foreign-exchange pressure, an effective tax rate near the high end of guidance, or heavier commercialization investment could also reduce earnings conversion. Base CaseCentral scenario $100.9658% Matches the consensus meanEdwards delivers within its raised 2026 ranges: total-company constant-currency growth of 10%-11%, TAVR growth of 8%-9%, TMTT sales of $760-$780 million, and adjusted EPS of $2.95-$3.05. TAVR remains the principal earnings engine while TMTT scales rapidly, with some normal timing variability around regulatory approvals and clinical adoption. Bull CaseUpside scenario $110.0025% Growth reaches or exceeds the upper ends of 2026 guidance, TAVR maintains double-digit procedural momentum, the CMS coverage update supports broader Medicare access, and all identified PASCAL approvals arrive in Q4. Strong TMTT adoption across PASCAL, EVOQUE, and SAPIEN M3 would demonstrate that Edwards has developed a durable second growth platform alongside TAVR. Scenarios are anchored to street consensus at the research date, with our probabilities and rationale. Key Investment Merits
Key Investment Risks
All scenarios are estimates and subject to change. Past performance is not indicative of future results. Quality Pillars MembersThis section is available to registered members. Create a free account or sign in to unlock the full breakdown. Explore this dossierValuationIntrinsic value, the six-method breakdown, peer medians, and your assumptions sandbox.Financial SnapshotRevenue, profitability, returns, balance sheet, dividends, and the filing-level detail.Qualitative AnalysisBusiness overview, strategic initiatives, and mergers, acquisitions & partnerships.Outlook & Key DatesForward estimates, reporting calendar, and the monitoring framework. |