Question-and-Answer SessionJoanne WuenschCitigroup Inc., Research Division Well, I'm excited to spend some time with you. Anyway so -- chair makes noise, sorry about that in advance. One of the things that has come up as I talk to investors is the TAVR market. All right. And we went through this period middle of 2024 where it was slowing and I understood why it was slowing. And now we're in a period where it's accelerating. And I am -- I'd love your view on why did it slow, why did it accelerate to 11% of c ...

Summary of Edwards Lifesciences Conference Call Company Overview - **Company**: Edwards Lifesciences (NYSE: EW) - **Industry**: Medical Technology, specifically focusing on heart valve therapies and critical care technologies Key Points TAVR Market Dynamics - The TAVR (Transcatheter Aortic Valve Replacement) market experienced an acceleration in growth, reaching **11% revenue growth** in the latest quarter, compared to a market growth of **7% to 8%** [5][6] - Factors contributing to this growth include the introduction of new therapies like **EVOQUE** and positive clinical trial results from the **EARLY TAVR Trial** [6][7] - Hospitals are returning to a status quo, adjusting their capacities to accommodate new therapies, which had previously lagged [6] Clinical Trials and Regulatory Changes - The upcoming **NCD (National Coverage Determination)** guidelines in the U.S. are expected to evolve, similar to changes seen in Europe in 2025, which may further influence TAVR adoption [8][12] - Feedback on the NCD process has been limited, with a draft expected in **June or July** [12] - The company is optimistic about the potential benefits of TAVR for patients with moderate aortic stenosis, with trial results anticipated in **December** [35][36] Market Share and Pricing - Edwards gained market share in Europe due to a competitor exiting the region, reallocating their position across competitors [20] - Pricing for TAVR has remained stable globally, with expectations of average selling price compression as hospitals increase volumes [21][23] TMTT (Transcatheter Mitral and Tricuspid Therapies) - The TMTT segment is growing, with a focus on both mitral and tricuspid therapies, although mitral TEER (Transcatheter Edge-to-Edge Repair) currently represents a larger share of the business [44][51] - The company is awaiting data on tricuspid TEER and has enrolled trials for functional mitral regurgitation (FMR) [49][50] Innovations and Acquisitions - Recent acquisitions include **JC Medical**, focusing on aortic regurgitation, and **Cordella**, a heart failure management technology [101][102] - The company emphasizes the importance of innovation in sustaining growth in surgical and transcatheter therapies [86][87] Financial Outlook - Edwards maintains a sales growth guidance of **8%-10%** for the company and **6%-8%** for TAVR, reflecting increased confidence in their growth trajectory [116][120] - The company plans to continue share repurchases, having bought back nearly **$900 million** in stock last year [111][113] Broader Market Context - The MedTech sector has faced challenges, but Edwards remains optimistic about its growth potential and the number of untreated patients [122][124] - The company aims to increase awareness of mitral and tricuspid diseases, which are currently under-treated compared to aortic stenosis [65][71] Future Expectations - In the next year, discussions will likely focus on the outcomes of the NCD, the evolution of U.S. guidelines, and the penetration of new products like **PASCAL**, **EVOQUE**, and **SAPIEN M3** into the market [126][128] Additional Insights - The company is focused on educating both patients and physicians about heart diseases and treatment options, which is crucial for increasing treatment rates [77][82] - The role of robotic surgery in cardiac procedures remains uncertain, but the company welcomes advancements in this area [92][93]

IRVINE, Calif.--(BUSINESS WIRE)--At the close of Heart Month, Edwards Lifesciences (NYSE: EW) underscored its leadership in structural heart innovation, advancing care through deep expertise and strong partnerships so people with structural heart disease can live longer, healthier lives. As part of this commitment, Edwards announced the impact and renewed vision for Every Heartbeat Matters, its signature global health initiative, to help 2 million more patients facing barriers worldwide access. ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Fiscal Year Ended December 31, 2025 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Transition Period From to Commission File Number 1-15525 EDWARDS LIFESCIENCES CORPORATION (Exact name of registrant as specified in its charter) Delaware 36-4316614 (St ...

Edwards Lifesciences Corporation (NYSE:EW) is one of the 10 best healthcare equipment stocks to buy according to hedge funds. On February 11, Richard Newitter from Truist Financial reduced the price target on Edwards Lifesciences Corporation (NYSE:EW) from $92 to $89. The analyst reaffirmed his Hold rating on the stock that offers a revised upside potential of more than 11%. Here is Why Edwards Lifesciences Corporation (EW) Looks Attractive Newitter reflected favorably on the company’s fourth quarter re ...

Core Insights - The healthcare sector, particularly pharmaceutical and medical device companies, showed strong performance in the 2025 earnings season, outperforming the industry average [1][2] - Key companies discussed include Eli Lilly, AstraZeneca, Edwards Lifesciences, and Medtronic, highlighting significant revenue growth drivers [1] Sector Performance - The earnings reports reflect a backdrop of challenges such as geopolitical shifts, pricing pressures, and patent losses affecting the industry [2]

Core Viewpoint - Edwards Lifesciences Corporation announced that its Chief Financial Officer, Scott Ullem, will present at two upcoming healthcare conferences in March 2026 [1] Conference Details - The first presentation is scheduled for Tuesday, March 10, 2026, at 10:00 a.m. ET at the Barclays 28th Annual Global Healthcare Conference [1] - The second presentation will take place on Wednesday, March 11, 2026, at 10:00 a.m. ET at the Leerink Global Healthcare Conference [1] - A live webcast of each presentation will be available on the Edwards investor relations website [1]

Core Viewpoint - Edwards Lifesciences has eliminated its anti-copycat policy, leading to the closure of an EU antitrust investigation against the company [1]. Group 1: Company Actions - Edwards Lifesciences has withdrawn its Global Unilateral Pro-Innovation (Anti-Copycatting) Policy (UPIP), which was previously a point of contention with Indian rival Meril [1]. - The European Commission confirmed that the removal of the UPIP from the company's website indicates that the concerns regarding market power abuse have been addressed [1]. Group 2: Regulatory Context - The European Commission had conducted an investigation into Edwards Lifesciences after a complaint from Meril, which alleged that the company was abusing its market position [1]. - The Commission's investigation included a raid on one of Edwards Lifesciences' facilities in September 2023 [1]. - The closure of the investigation means that further action is not considered a priority at the EU level [1].

Core Viewpoint - Edwards Lifesciences Corporation is highlighted as a strong investment opportunity in the medical technology sector, particularly following its positive Q4 2025 earnings report which exceeded expectations [1][2]. Financial Performance - The company reported quarterly sales of $1.57 billion, reflecting an 11.6% increase year-over-year, surpassing both Stifel's estimate of $1.54 billion and the consensus estimate of $1.55 billion [1][2]. - Quarterly EPS was reported at $0.58, which was below the expected $0.62 due to higher-than-anticipated spending on sales, general, and administrative costs [3]. Revenue Drivers - Transcatheter aortic valve replacement (TAVR) sales, which constitute approximately 74% of the company's revenue, grew by 10.6% year-over-year, serving as the primary driver for the company's strong performance [2][4]. - Management indicated that TAVR growth is supported by favorable clinical results, new European guidelines, a competitor exiting the market, and increased adoption of the Sapien 3 Ultra Resilia valve [4]. Company Overview - Edwards Lifesciences specializes in developing and manufacturing medical technology focused on structural heart disease and critical care monitoring, with key products including transcatheter heart valves, surgical heart valves, and hemodynamic monitoring systems [5].

Core Viewpoint - Edwards Lifesciences Corporation will participate in Citi's Unplugged Medtech and Life Sciences Access Day on February 26, 2026, with CFO Scott Ullem scheduled to present [1] Company Information - The presentation by Scott Ullem is set for 10:15 a.m. ET [1] - A live webcast of the presentation will be available on the Edwards Lifesciences investor relations website, with an archived version accessible later the same day [1]