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GuruFocus Financial Strength Rank measures how strong a company’s financial situation is. It is based on these factors

1. The debt burden that the company has as measured by its Interest coverage (current year).
2. Debt to revenue ratio. The lower, the better
3. Altman Z-score.

A company ranks high with financial strength is likely to withstand any business slowdowns and recessions.

Financial Strength : 9/10

vs
industry
vs
history
Cash to Debt 1.58
EW's Cash to Debt is ranked higher than
61% of the 377 Companies
in the Global Medical Devices industry.

( Industry Median: 6.28 vs. EW: 1.58 )
EW' s 10-Year Cash to Debt Range
Min: 0.07   Max: No Debt
Current: 1.58

Equity to Asset 0.57
EW's Equity to Asset is ranked higher than
61% of the 358 Companies
in the Global Medical Devices industry.

( Industry Median: 0.64 vs. EW: 0.57 )
EW' s 10-Year Equity to Asset Range
Min: 0.4   Max: 0.85
Current: 0.57

0.4
0.85
Interest Coverage 46.38
EW's Interest Coverage is ranked higher than
61% of the 223 Companies
in the Global Medical Devices industry.

( Industry Median: 205.72 vs. EW: 46.38 )
EW' s 10-Year Interest Coverage Range
Min: 1.04   Max: 9999.99
Current: 46.38

1.04
9999.99
F-Score: 7
Z-Score: 7.05
M-Score: -3.27
GuruFocus Profitability Rank ranks how profitable a company is and how likely the company’s business will stay that way. It is based on these factors:

1. Operating Margin
2. Trend of the Operating Margin (5-year average). The company with an uptrend profit margin has a higher rank.
••3. Consistency of the profitability
4. Piotroski F-Score
5. Predictability Rank•

The maximum rank is 10. A rank of 7 or higher means a higher profitability and may stay that way. A rank of 3 or lower indicates that the company has had trouble to make a profit.

Profitability Rank is not directly related to the Financial Strength Rank. But if a company is consistently profitable, its financial strength will be stronger.

Profitability & Growth : 9/10

vs
industry
vs
history
Operating margin (%) 22.22
EW's Operating margin (%) is ranked higher than
93% of the 366 Companies
in the Global Medical Devices industry.

( Industry Median: 6.25 vs. EW: 22.22 )
EW' s 10-Year Operating margin (%) Range
Min: -29.23   Max: 22.84
Current: 22.22

-29.23
22.84
Net-margin (%) 19.15
EW's Net-margin (%) is ranked higher than
93% of the 366 Companies
in the Global Medical Devices industry.

( Industry Median: 4.82 vs. EW: 19.15 )
EW' s 10-Year Net-margin (%) Range
Min: -33.83   Max: 19.15
Current: 19.15

-33.83
19.15
ROE (%) 25.12
EW's ROE (%) is ranked higher than
97% of the 365 Companies
in the Global Medical Devices industry.

( Industry Median: 5.79 vs. EW: 25.12 )
EW' s 10-Year ROE (%) Range
Min: -61.82   Max: 25.12
Current: 25.12

-61.82
25.12
ROA (%) 14.38
EW's ROA (%) is ranked higher than
97% of the 380 Companies
in the Global Medical Devices industry.

( Industry Median: 3.09 vs. EW: 14.38 )
EW' s 10-Year ROA (%) Range
Min: -24.57   Max: 14.38
Current: 14.38

-24.57
14.38
ROC (Joel Greenblatt) (%) 52.55
EW's ROC (Joel Greenblatt) (%) is ranked higher than
92% of the 379 Companies
in the Global Medical Devices industry.

( Industry Median: 12.55 vs. EW: 52.55 )
EW' s 10-Year ROC (Joel Greenblatt) (%) Range
Min: -84.23   Max: 58.42
Current: 52.55

-84.23
58.42
Revenue Growth (%) 14.00
EW's Revenue Growth (%) is ranked higher than
88% of the 278 Companies
in the Global Medical Devices industry.

( Industry Median: 5.40 vs. EW: 14.00 )
EW' s 10-Year Revenue Growth (%) Range
Min: 0   Max: 14
Current: 14

0
14
EBITDA Growth (%) 24.00
EW's EBITDA Growth (%) is ranked higher than
93% of the 249 Companies
in the Global Medical Devices industry.

( Industry Median: -3.70 vs. EW: 24.00 )
EW' s 10-Year EBITDA Growth (%) Range
Min: 0   Max: 28
Current: 24

0
28
EPS Growth (%) 23.40
EW's EPS Growth (%) is ranked higher than
91% of the 233 Companies
in the Global Medical Devices industry.

( Industry Median: -2.80 vs. EW: 23.40 )
EW' s 10-Year EPS Growth (%) Range
Min: 0   Max: 348.1
Current: 23.4

0
348.1
» EW's 10-Y Financials

Financials


Revenue & Net Income
Cash & Debt
Oprt. Cash Flow & Free Cash Flow

» Details

Guru Trades

Q1 2013

EW Guru Trades in Q1 2013

Paul Tudor Jones 3,900 sh (New)
Jim Simons 398,600 sh (+264.02%)
Joel Greenblatt 6,727 sh (+35.68%)
Meridian Funds 379,000 sh (+11.14%)
Jeremy Grantham 88,070 sh (+6.66%)
Ron Baron 842,531 sh (+1.65%)
PRIMECAP Management 280,000 sh (unchged)
Steven Cohen 2,696 sh (-98.39%)
» More
Q2 2013

EW Guru Trades in Q2 2013

Vanguard Health Care Fund 1,311,100 sh (New)
Steven Cohen 156,818 sh (+5716.69%)
Joel Greenblatt 42,122 sh (+526.16%)
Ron Baron 1,985,766 sh (+135.69%)
Meridian Funds 506,700 sh (+33.69%)
PRIMECAP Management 280,000 sh (unchged)
Paul Tudor Jones Sold Out
Jeremy Grantham 56,100 sh (-36.3%)
Jim Simons 245,300 sh (-38.46%)
» More
Q3 2013

EW Guru Trades in Q3 2013

Paul Tudor Jones 5,300 sh (New)
Ray Dalio 25,695 sh (New)
Steven Cohen 506,907 sh (+223.25%)
Jeremy Grantham 72,300 sh (+28.88%)
Jim Simons 281,900 sh (+14.92%)
Ron Baron 2,180,836 sh (+9.82%)
Vanguard Health Care Fund 1,311,100 sh (unchged)
Steven Cohen 250,000 sh (unchged)
PRIMECAP Management 280,000 sh (unchged)
Joel Greenblatt 31,091 sh (-26.19%)
» More
Q4 2013

EW Guru Trades in Q4 2013

Pioneer Investments 179,470 sh (New)
Vanguard Health Care Fund 5,324,000 sh (+306.07%)
Joel Greenblatt 117,760 sh (+278.76%)
PRIMECAP Management 280,000 sh (unchged)
Paul Tudor Jones Sold Out
Ray Dalio Sold Out
Jeremy Grantham 67,987 sh (-5.97%)
Ron Baron 1,533,972 sh (-29.66%)
Jim Simons 188,800 sh (-33.03%)
Steven Cohen 3,398 sh (-99.33%)
» More
» Details

Insider Trades

Latest Guru Trades with EW

GuruDate Trades Impact to Portfolio Price Range * (?) Current Price Change from Average Current Shares
Vanguard Health Care Fund 2013-12-31 Add 306.07%0.83%$61.44 - $78.14 $ 81.2920%5324000
Ron Baron 2013-12-31 Reduce -29.66%0.21%$61.44 - $78.14 $ 81.2920%1533972
Joel Greenblatt 2013-12-31 Add 278.76%0.13%$61.44 - $78.14 $ 81.2920%117760
Ray Dalio 2013-12-31 Sold Out 0.02%$61.44 - $78.14 $ 81.2920%0
Joel Greenblatt 2013-09-30 Reduce -26.19%0.03%$65.25 - $73.4 $ 81.2916%31091
Ray Dalio 2013-09-30 New Buy0.02%$65.25 - $73.4 $ 81.2916%25695
Ron Baron 2013-06-30 Add 135.69%0.4%$62.54 - $84.93 $ 81.2914%1985766
Meridian Funds 2013-06-30 Add 33.69%0.33%$62.54 - $84.93 $ 81.2914%506700
Vanguard Health Care Fund 2013-06-30 New Buy0.32%$62.54 - $84.93 $ 81.2914%1311100
Joel Greenblatt 2013-06-30 Add 526.16%0.1%$62.54 - $84.93 $ 81.2914%42122
Meridian Funds 2013-03-31 Add 11.14%0.11%$78.66 - $94.56 $ 81.29-8%379000
Joel Greenblatt 2013-03-31 Add 35.68%0.01%$78.66 - $94.56 $ 81.29-8%6727
Premium More recent guru trades are included for Premium Members only!!
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Guru Investment Theses on Edwards Lifesciences Corporation

Baron Funds Comments on Edwards Lifesciences Corp. - Aug 07, 2012

From Baron Funds Second-Quarter Newsletter:

Of the 101 positions in the Fund, 36 have been held for over five years, which represents 51% of the portfolio. An example of a company we have held for over five years is Edwards Lifesciences Corp. (EW), which was only about 1% of the portfolio as of May 31, 2012, although it was higher previously. Ron has been selling the position since its market cap is now over $10 billion. When the Fund first purchased the stock, the company's market value was $1.5 billion. We think this is a great example of a long-term investment. Edwards Lifesciences is the global leader in the science of heart valves and in the growing market for surgical heart valves. The investment has returned over 230% in the past five years, 505% since our initial purchase in 2003, and 22% on an annualized basis, through May 31, 2012.
Check out Ron Baron latest stock trades

Top Ranked Articles about Edwards Lifesciences Corporation

Insider Buys at 52-Week Lows
Several insiders made buys this week as the price of their companies hit or neared 52-week low prices. The following insider buys were chosen as the insider buys at 52-week lows with the highest total transaction amounts. Read more...
Medical Technology Industry Reports Insider Sells at 52-Week Lows
This week brought about several 52-week low prices in the technology sector of the market. Insiders in the medical sciences and technology industry took these lows as a sign to drop some of their stock. We saw two medical industry companies make significant insider sells as the price of their company dwindles downwards. [b] Read more...

Ratios

vs
industry
vs
history
P/E(ttm) 23.50
EW's P/E(ttm) is ranked higher than
77% of the 231 Companies
in the Global Medical Devices industry.

( Industry Median: 26.70 vs. EW: 23.50 )
EW' s 10-Year P/E(ttm) Range
Min: 16.9   Max: 3625
Current: 23.5

16.9
3625
P/B 5.70
EW's P/B is ranked lower than
63% of the 355 Companies
in the Global Medical Devices industry.

( Industry Median: 3.20 vs. EW: 5.70 )
EW' s 10-Year P/B Range
Min: 2.76   Max: 8.46
Current: 5.7

2.76
8.46
P/S 4.50
EW's P/S is ranked lower than
63% of the 372 Companies
in the Global Medical Devices industry.

( Industry Median: 2.74 vs. EW: 4.50 )
EW' s 10-Year P/S Range
Min: 1.97   Max: 7.38
Current: 4.5

1.97
7.38
PFCF 25.10
EW's PFCF is ranked higher than
69% of the 179 Companies
in the Global Medical Devices industry.

( Industry Median: 27.48 vs. EW: 25.10 )
EW' s 10-Year PFCF Range
Min: 11.01   Max: 534.25
Current: 25.1

11.01
534.25
EV-to-EBIT 18.90
EW's EV-to-EBIT is ranked higher than
73% of the 293 Companies
in the Global Medical Devices industry.

( Industry Median: 20.91 vs. EW: 18.90 )
EW' s 10-Year EV-to-EBIT Range
Min: 13.1   Max: 69.5
Current: 18.9

13.1
69.5
PEG 1.70
EW's PEG is ranked higher than
85% of the 119 Companies
in the Global Medical Devices industry.

( Industry Median: 2.53 vs. EW: 1.70 )
EW' s 10-Year PEG Range
Min: 0.87   Max: 3.5
Current: 1.7

0.87
3.5
Shiller P/E 36.70
EW's Shiller P/E is ranked higher than
53% of the 141 Companies
in the Global Medical Devices industry.

( Industry Median: 27.00 vs. EW: 36.70 )
EW' s 10-Year Shiller P/E Range
Min: 27.55   Max: 69.38
Current: 36.7

27.55
69.38

Valuation & Return

vs
industry
vs
history
Price/Net Current Asset Value 51.80
EW's Price/Net Current Asset Value is ranked lower than
86% of the 174 Companies
in the Global Medical Devices industry.

( Industry Median: 9.10 vs. EW: 51.80 )
EW' s 10-Year Price/Net Current Asset Value Range
Min: 30.16   Max: 57.07
Current: 51.8

30.16
57.07
Price/Tangible Book 8.00
EW's Price/Tangible Book is ranked lower than
69% of the 328 Companies
in the Global Medical Devices industry.

( Industry Median: 4.40 vs. EW: 8.00 )
EW' s 10-Year Price/Tangible Book Range
Min: 6.44   Max: 28.78
Current: 8

6.44
28.78
Price/DCF (Projected) 2.10
EW's Price/DCF (Projected) is ranked higher than
62% of the 177 Companies
in the Global Medical Devices industry.

( Industry Median: 1.90 vs. EW: 2.10 )
EW' s 10-Year Price/DCF (Projected) Range
Min: 1.47   Max: 3.36
Current: 2.1

1.47
3.36
Price/Median PS Value 1.50
EW's Price/Median PS Value is ranked lower than
55% of the 338 Companies
in the Global Medical Devices industry.

( Industry Median: 1.10 vs. EW: 1.50 )
EW' s 10-Year Price/Median PS Value Range
Min: 0.41   Max: 2.19
Current: 1.5

0.41
2.19
Price/Peter Lynch Fair Value 1.60
EW's Price/Peter Lynch Fair Value is ranked higher than
86% of the 59 Companies
in the Global Medical Devices industry.

( Industry Median: 1.80 vs. EW: 1.60 )
EW' s 10-Year Price/Peter Lynch Fair Value Range
Min: 1.07   Max: 3.89
Current: 1.6

1.07
3.89
Price/Graham Number 2.80
EW's Price/Graham Number is ranked higher than
51% of the 213 Companies
in the Global Medical Devices industry.

( Industry Median: 2.40 vs. EW: 2.80 )
EW' s 10-Year Price/Graham Number Range
Min: 2.29   Max: 33.82
Current: 2.8

2.29
33.82
Earnings Yield (Greenblatt) 5.30
EW's Earnings Yield (Greenblatt) is ranked higher than
76% of the 279 Companies
in the Global Medical Devices industry.

( Industry Median: 4.60 vs. EW: 5.30 )
EW' s 10-Year Earnings Yield (Greenblatt) Range
Min: 1.4   Max: 7.6
Current: 5.3

1.4
7.6
Forward Rate of Return (Yacktman) 17.00
EW's Forward Rate of Return (Yacktman) is ranked higher than
93% of the 259 Companies
in the Global Medical Devices industry.

( Industry Median: 1.31 vs. EW: 17.00 )
EW' s 10-Year Forward Rate of Return (Yacktman) Range
Min: 3.1   Max: 28.3
Current: 17

3.1
28.3

Business Description

Industry: Medical Devices » Medical Devices
Compare:MDT, SYK, SMA, ZMH, STJ » details
Traded in other countries:EWL.Germany
Edwards Lifesciences Corporation was incorporated in Delaware on September 10, 1999. It is a provider of products and technologies designed to treat advanced cardiovascular disease. The Company is focused specifically on technologies that treat structural heart disease and critically ill patients. Cardiovascular disease is the number-one cause of death in the world, and is the top disease in terms of health care spending in nearly every country. Cardiovascular disease is progressive in that it tends to worsen over time and often affects an individual's entire circulatory system. In its later stages, cardiovascular disease is frequently treated by surgical interventions. The products and technologies provided by the Company to treat advanced cardiovascular disease are categorized into four main areas: Heart Valve Therapy; Critical Care; Cardiac Surgery Systems; and Vascular. The Company's Heart Valve Therapy portfolio is comprised of tissue heart valves and heart valve repair products. Tissue heart valves and repair products are used to replace or repair a patient's diseased or defective heart valve. In the Critical Care area, the Company is a provider of hemodynamic monitoring equipment used to measure a patient's cardiovascular function and in disposable pressure transducers, and also provides central venous access products for fluid and drug delivery. The Company's Cardiac Surgery Systems portfolio comprises a diverse line of products for use during cardiac surgery including cannula, EMBOL-X technologies, and other disposable products used during cardiopulmonary bypass procedures. In December 2007, the Company acquired the CardioVations line of products used in MIS. The Company's Vascular portfolio includes a line of balloon catheter-based products, surgical clips and inserts, artificial implantable grafts, and stents for which approval is being sought for use in treatment of peripheral vascular disease. It operates manufacturing facilities in a number of geographies around the world. It maintains heart valve manufacturing facilities in California, Switzerland, and Singapore. Critical Care products are manufactured mainly in the Company's facilities located in Puerto Rico and the Dominican Republic. Edwards' Cardiac Surgery Systems and Vascular products are manufactured mainly in Utah and Puerto Rico, respectively. The Company sold the LifeStent product line in January 2008, but would continue to manufacture these products for the buyer until the earlier of mid-2010 or the transfer of manufacturing to the buyer. The healthcare marketplace continues to be competitive with strong global and local competitors. The Company competes with many companies, ranging from small start-up enterprises to companies that are larger and more established than it with access to financial resources. Furthermore, rapid product development and technological change characterize the market in which the Company competes. The Company's primary competito

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