Edwards Lifesciences Corporation


SKU: EW Category:


This is our first report on Edwards Lifesciences, a market leading manufacturer of heart valve systems and repair products. Despite strong competition from larger players like Boston Scientific and Medtronics, the company has held its ground in its domain. The last quarter was highly disappointing as Edwards failed to meet Wall Street expectations in terms of revenues as well as earnings. Globally, structural heart surgeries increased less than the company anticipated in Q3. However, it didn’t stop its team from making advancements in its clinical trials and next-generation technologies. The company gained regulatory approval from the European Union for PASCAL PRECISION. Besides, their market-leading SAPIEN 3 Ultra transcatheter aortic heart valve combines Edwards’ ground-breaking RESILIA technology. In Q3, over 30000 patients received SAPIEN treatments at over 2,000 TAVR facilities worldwide. Local selling prices remained steady, but the weakening of the euro and yen caused a drop in the average worldwide selling price. The managemen also progressed in recruiting patients with symptomatic severe tricuspid regurgitation for the TRISCEND II pivotal study using the EVOQUE replacement system and the CLASP IIR pivotal trial with the PASCAL repair system. In addition, the company saw strong momentum in its RESILIA portfolio on a worldwide scale. We initiate coverage on the stock of Edwards Lifesciences Corporation with a ‘Hold’ rating.

Our Report Structure:

⦁ Company Overview
⦁ Investment Thesis
⦁ Key Drivers
⦁ Historical Quarterly Statement Analysis – Income Statement & Cash Flows
⦁ Historical Quarterly Balance Sheet Analysis
⦁ Historical Annual Financial Statement Analysis
⦁ Analysis Of Key Financial Ratios
⦁ Financial Forecasts For 3 Years
⦁ Forecasting The Capital Structure & Net Debt
⦁ Discounted Cash Flow Valuation
⦁ Trading Multiples
⦁ Key Risks
⦁ Disclosures

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