moneyheap
EW · Analysis updated Nov 10, 2026, 6:00 PM ET
Why is Edwards Lifesciences Corp (EW) stock moving?
Edwards reported a solid Q3 2026, with sales up 10.5% to $1.72 billion (11.2% in constant currency), TMTT sales up 44% and adjusted EPS of $0.80. The company raised its full-year adjusted EPS guidance to $2.97-$3.05 and lifted its TMTT sales guidance to $780-$790 million, while total sales growth guidance moved up to about 11.5%. The Q4 adjusted EPS outlook of $0.61-$0.69 sits below the $0.71 consensus, which tempers the quarter's upbeat tone. Analysts responded with a wave of price target increases to between $106 and $120, with most ratings kept Buy or Overweight and only Bernstein at Market Perform. The stock has risen from about $90 on Oct 22 to $104.01 on Nov 10, a gain of roughly 15%, and it closed near its recent high of $105.37 set on Nov 9. Trading volume was heavy around the report and the Nov 5 move, then faded to 3.8 million shares on Nov 10. The FDA approvals for PASCAL and EVOQUE add to the pipeline story, but the stock already reflects much of the good news.
News behind the analysis
- Edwards Lifesciences Reports Third Quarter 2026 Financial ResultsQ3 sales rose 10.5% to $1.72 billion, with TMTT sales up 44.0% and adjusted EPS of $0.80, up 19% year over year. Full-year sales growth guidance was raised to about 11.5%.
- UPDATE: Edwards Lifesciences Raises FY2026 Adj EPS Guidance from $2.95-$3.05 to $2.97-$3.05 vs $3.00 Est; Narrows FY2026 Sales Guidance from $6.600B-$6.900B to $6.766B vs $6.767B EstFull-year adjusted EPS guidance was narrowed upward to $2.97-$3.05, with the low end raised, while sales guidance was narrowed to $6.766B, in line with estimates.
- Edwards Lifesciences Sees Q4 Adj EPS $0.61-$0.69 vs $0.71 Est; Sees Sales $1.670B-$1.750B vs $1.700B EstThe Q4 adjusted EPS outlook of $0.61-$0.69 sits below the $0.71 consensus, while the Q4 sales range of $1.670B-$1.750B brackets the $1.700B estimate.
- Edwards Lifesciences Receives FDA Approvals for PASCAL and EVOQUE SystemsThe company received U.S. FDA approval for PASCAL Precision tricuspid repair and PASCAL Ace mitral repair systems, plus U.S. and European approvals for the EVOQUE transjugular access system.
- JP Morgan Maintains Overweight on Edwards Lifesciences, Raises Price Target to $120JP Morgan kept its Overweight rating and raised its price target to $120 after the quarter.
- Barclays Maintains Overweight on Edwards Lifesciences, Raises Price Target to $120Barclays maintained its Overweight rating and lifted its price target to $120.
- BTIG Upgrades Edwards Lifesciences Price TargetBTIG kept its Buy rating and raised its price target to $115 from $110.
- Bernstein Maintains Market Perform on Edwards Lifesciences, Raises Price Target to $106Bernstein kept a Market Perform rating, the most cautious rating among the post-earnings notes, while raising its price target to $106.
- Multiple Financial Institutions Adjust Price Targets for Edwards LifesciencesFollowing the Q3 report, Truist, Wells Fargo, JP Morgan and others updated their price targets, with most moves upward.
- Edwards Lifesciences Q3 2026 Earnings Call TranscriptThe transcript of the Q3 2026 earnings call, held on Wednesday, Nov 4, is available for review.
About Edwards Lifesciences Corp
Edwards Lifesciences is an Irvine, California maker of devices that treat structural heart disease, mainly replacement heart valves. Baxter spun it off in 2000. It is best known for its SAPIEN transcatheter aortic valves (TAVR), which go in through a catheter instead of open-heart surgery, and it is a leader in that market.
How it makes money
It sells heart valve devices to hospitals around the world. TAVR valves bring in roughly 70%+ of sales, about $1.24 billion of the roughly $1.72 billion in Q3 2026. Transcatheter mitral and tricuspid therapies (TMTT), such as PASCAL repair and EVOQUE replacement, are the fastest-growing part, at roughly $780–790 million expected for 2026. Surgical valves and related products, such as the RESILIA tissue valves, make up most of the rest at about $280 million per quarter. Total sales in 2025 were about $6.1 billion.
What usually moves EW
- TAVR procedure growth and new indications
- Uptake of mitral and tricuspid (TMTT) therapies
- Clinical trial results and FDA approvals
- Competition from Medtronic, Boston Scientific and Abbott
- Hospital capacity and Medicare reimbursement