Edwards Lifesciences Corp. (NYSE:EW) stock rose Friday after the medical device maker reported second-quarter results that topped Wall Street estimates and raised the low end of its full-year revenue guidance.
The company reported adjusted earnings of 78 cents per share for the second quarter, beating the analyst consensus estimate of 74 cents. Revenue increased to $1.741 billion from a year earlier, exceeding the $1.70 billion consensus estimate.
Total sales rose 13.6% year over year, or 12.5% on a constant-currency basis.
TAVR, TMTT Businesses Fuel Growth
Transcatheter Aortic Valve Replacement (TAVR) sales increased 11.3% year over year, or 10.5% in constant currency, to $1.3 billion.
The company said procedural growth benefited from sustained clinical momentum and growing evidence supporting earlier treatment of severe aortic stenosis. Growth was similar in the U.S. and international markets and also benefited from a competitor’s market exit in 2025.
Transcatheter Mitral and Tricuspid Therapies (TMTT) revenue climbed to $195.9 million, supported by continued demand for the company’s repair and replacement therapies. Edwards said mitral and tricuspid procedure growth remained in the double digits globally.
Surgical segment sales rose 6.5% from a year earlier to $284 million, or 5% in constant currency. The increase was driven by continued adoption of the company’s RESILIA tissue technologies.
Company Raises Revenue Outlook
Edwards reaffirmed its fiscal 2026 adjusted earnings guidance of $2.95 to $3.05 per share. That range brackets the Wall Street consensus estimate of $3.01.
The company also raised the low end of its full-year revenue guidance. It now expects revenue of $6.60 billion to $6.90 billion, up from its previous forecast of $6.50 billion to $6.90 billion. The updated range brackets the Wall Street consensus estimate of $6.745 billion.
Edwards also reaffirmed its expectation for 2026 TAVR sales of $4.75 billion to $5.0 billion.
Analyst Sees More Upside Ahead
William Blair analyst Brandon Vazquez said Friday that the results reinforced the firm’s bullish outlook on Edwards.
“Overall, the second quarter reaffirmed our bullish thesis on Edwards shares, offering one of the better setups for medtech growth,” Vazquez wrote.
The analyst maintained an Outperform rating, saying the stock, trading at about 26 times projected 2027 earnings, could see further upside as earnings grow and additional catalysts emerge in the second half of 2026 and into 2027.
EW Stock Price Activity: Edwards Lifesciences shares were up 3.32% at $86.60 at the time of publication on Friday, according to Benzinga Pro data.
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