Edwards Lifesciences (EW) Stock Forecast & Price Target

Edwards Lifesciences is favored because it combines category leadership in large, underpenetrated structural heart markets with a durable growth runway, including a two-thirds global TAVR share, a three-quarters U.S. share, and expanding TMTT opportunities that could help lift the ~$1B market toward $2B by 2030. Its latest quarter reinforced that thesis: revenue rose 11.2% year over year to $1.72B, TAVR grew 8.8% to $1.24B, TMTT reached $209.5M, adjusted operating margin was 30.3%, and adjusted EPS was $0.80, while FY26 guidance was raised to about 11.5% sales growth and $2.97-$3.05 in adjusted EPS. The outlook is further supported by low U.S. severe symptomatic penetration of about 15%, a growing non-deferrable procedure base, and a geographically diversified mix with roughly 60% of sales outside the U.S., which together support resilient, multi-year double-digit growth.

Edwards Lifesciences is exposed to multiple fundamental growth risks that could weaken its long-term revenue trajectory, including macro pressures such as pandemics, hospital staffing shortages, inflation, and supply disruptions. Its core TAVR franchise may face slower-than-expected adoption in low-risk patients, delayed re-acceleration of the market, and potential share loss or pricing pressure from newer entrants and incumbent innovation, while PASCAL and the broader TMVR pipeline risk weak traction if clinical data or approvals disappoint. With about 60% of sales generated outside the US, the company also carries added execution and demand risk across global markets, making a valuation anchored to an NTM P/E of roughly 22x look vulnerable if double-digit growth proves difficult to sustain.