EW at a glance
Edwards Lifesciences (EW, SEC CIK 1099800) filed its latest 10-K annual report on February 25, 2026, a 10-Q quarterly report on August 4, 2026, an 8-K current report on August 28, 2026 and Form 4 insider filings as recently as September 14, 2026. SignalX summarizes each filing with AI and tracks the company's insider trades and institutional holders.
- For the fiscal year ended December 31, 2025 (FY2025), Edwards Lifesciences (EW) reported revenue of $6.1 billion (up 11.5% from FY2024) and net income of $1.1 billion. Diluted EPS was $1.83.
- As of June 30, 2026, 42 institutional investment managers tracked by SignalX reported holding Edwards Lifesciences (EW) shares worth $22.5 billion in 13F-HR filings.
- The most recent insider open-market sale reported on Form 4 was by Lippis Daniel J. on September 11, 2026 of 619 shares at $87.51 per share.
- In the last 90 days, EW insiders reported 0 open-market purchases ($0) and 11 open-market sales ($4.5M) on Form 4, a net sale of $4.5M.
Source: SEC EDGAR (XBRL financial data, 13F-HR and Form 4 filings).
- Revenue · FY2025
- $6.1B
- +11.5% vs prior year
- Insiders · 90 days
- 0 buys · 11 sells
- Net −$4.5M
- 13F holders
- 42 funds
- $22.5B · −1 vs prior quarter
- Latest 8-K
- Aug 28, 2026
- Item 5.02
AI 10-K Annual Report Analysis
Latest 10-K, fiscal year ended Dec 31, 2025
Management Discussion & Analysis
- Revenue $6.07B, up $628.1M (+11.5% YoY); TMTT best-performing segment +56.4% to $550.6M; Surgical weakest at +4.9% to $1.03B
- Gross profit as % of net sales decreased due to higher operational expenses; litigation expenses surged to $325.4M in 2025 vs $40.4M in 2024; effective tax rate 17.0% vs 9.8%
- Operating cash flow $1.60B, up $1.05B YoY; capex $260.2M in 2025, guided ~$280M in 2026
- Share buybacks $884.7M (11.7M shares) in 2025; $2.0B repurchase authority remaining; no dividends mentioned; $600M senior notes due 2028 outstanding
- Key risks: IRS transfer pricing dispute ($269.3M additional tax claimed), Pillar Two added $19.1M tax expense, and ongoing IP litigation
Business Overview
- Structural heart pure-play: TAVR, TMTT, and Surgical segments targeting aortic, mitral, tricuspid, and pulmonic valve disease
- TMTT fastest-growing segment: revenue share expanded to 9% in FY2025 vs 7% in FY2024 and 4% in FY2023
- KONECT RESILIA aortic valved conduit launched in Europe in 2025; EARLY TAVR trial 2024 data supporting asymptomatic aortic stenosis indication expansion
- R&D spend ~18% of 2025 sales, up ~2% YoY; ~16,000 employees worldwide as of December 31, 2025
- TAVR share of net sales declined to 74% in FY2025 from 77% in FY2023, reflecting deliberate portfolio diversification toward TMTT
Risk Factors
- Section 232 investigation by U.S. Dept. of Commerce into medical device imports could impose tariffs, raising manufacturing costs and disrupting Edwards' supply chain
- EU MDR compliance risk: unresolved EU-Switzerland Mutual Recognition Agreement may block Edwards from placing devices on EU market via Swiss operations
- Single-source supplier dependency for key materials; regulatory burden of FDA qualification makes replacement difficult and costly
- Competitors introducing new TAVR/TMTT technologies competing for same hospital catheterization labs, directly constraining Edwards' procedure volumes
- GDPR, HIPAA, and CCPA compliance exposure across multiple jurisdictions; GDPR noncompliance penalties and CCPA private right of action create layered financial liability
AI summary of the EW 10-K filed . Generated from the filing text; verify against the original.View on SEC EDGARHow to read a 10-K
AI 10-Q Quarterly Report Analysis
Latest 10-Q, quarter ended Jun 30, 2026
Management Discussion & Analysis
- No profitability, margin, cash flow, cash position, or capital deployment figures provided
- Forward-looking risks: competition, manufacturing issues, reimbursement reductions, cybersecurity, and Critical Care sale
Risk Factors
- No material changes to risk factors from the December 31, 2025 Form 10-K
- Regulatory and compliance risks remain those disclosed in the 2025 Form 10-K
- Operational and competitive risks remain those disclosed in the 2025 Form 10-K
- Financial risks remain those disclosed in the 2025 Form 10-K
AI summary of the EW 10-Q filed . Generated from the filing text; verify against the original.View on SEC EDGAR10-K vs 10-Q vs 8-K
AI 8-K Current Report Analysis
The most recent material events, by 8-K item
Item 5.02: Departure/Appointment of Directors or Principal Officers
- Donald E. Bobo Jr. plans to retire by mid-2027 from Corporate Vice President, Strategy and Corporate Development
- Successor search begins promptly, with duties expected to transition during 2027
Item 2.02: Results of Operations and Financial Condition
- Q2 2026 financial results released on July 23, 2026
- Investor focus: quarterly performance details in Exhibit 99.1
Item EX-99.1: Item EX-99.1
- Q2 sales $1.74B, up 13.6%; constant-currency growth 12.5%, indicating broad-based structural-heart momentum
- TMTT sales $195.9M, up 47.3%; faster-growing PASCAL and EVOQUE platforms increasingly diversify beyond TAVR
Item 5.02: Departure/Appointment of Directors or Principal Officers
- Stockholders approved amended Long-Term Stock Incentive Compensation Program
- Share authorization increased by 7,000,000 shares to 341,500,000 total
Item 5.07: Submission of Matters to a Vote of Security Holders
- All nine director nominees elected, preserving board continuity through the next annual meeting
- Executive compensation advisory vote approved, with 424,961,639 shares for and 50,924,101 against
AI summaries of EW 8-K current reports filed with the SEC. What 8-K item codes mean
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Recent Insider Transactions (Form 4)
Latest reported trades by officers, directors and 10% owners
| Insider | Type | Date | Shares | Price |
|---|---|---|---|---|
| Markowitz Wayne | F | Sep 14, 2026 | 568 | $84.37 |
| Dahl Andrew M. | F | Sep 13, 2026 | 253 | $84.37 |
| Lippis Daniel J. | M | Sep 11, 2026 | 619 | $72.68 |
| Lippis Daniel J. | M | Sep 11, 2026 | 619 | - |
| Lippis Daniel J. | Sell | Sep 11, 2026 | 619 | $87.51 |
| Markowitz Wayne | F | Sep 11, 2026 | 355 | $86.77 |
| Chopra Daveen | F | Sep 11, 2026 | 398 | $86.77 |
| Dahl Andrew M. | Sell | Aug 31, 2026 | 544 | $91.06 |
Financial SummaryXBRL
| Metric | FY2023 | FY2024 | FY2025 |
|---|---|---|---|
| Profitability | |||
| Revenue | - | $5.4B | $6.1B |
| Gross Profit | - | $4.3B | $4.7B |
| Operating Income | - | $1.4B | $1.3B |
| Net Income | - | $4.2B | $1.1B |
| Gross Margin | - | 79.5% | 78.0% |
| Op. Margin | - | 25.3% | 20.8% |
| Net Margin | - | 76.7% | 17.7% |
| Balance Sheet | |||
| Total Assets | $9.4B | $13.1B | $13.7B |
| Equity | - | $10.0B | $10.3B |
| ROE | - | 41.8% | 10.4% |
| Per Share | |||
| EPS | - | $6.97 | $1.83 |
| Cash Flow | |||
| Operating CF | - | $542.3M | $1.6B |
| CapEx | $253.0M | $252.4M | $260.2M |
Source: XBRL data in Edwards Lifesciences (EW)'s 10-K filings on SEC EDGAR, in USD. Compare across companies →
13F Fund Holdings: Quarterly Trend
Latest: Q2 2026Aggregate EW share value held by 13F filers tracked by SignalX, by quarter.
Quarterly totals table
| Quarter | Funds | Total value |
|---|---|---|
| Q2 2026 | 42 | $22.45B |
| Q1 2026 | 43 | $19.63B |
| Q4 2025 | 39 | $21.76B |
| Q3 2025 | 41 | $21.72B |
| Q2 2025 | 41 | $20.02B |
| Q1 2025 | 40 | $13.86B |
| Q4 2024 | 35 | $11.36B |
| Q3 2024 | 29 | $4.68B |
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Source: 13F-HR filings on SEC EDGAR (aggregated from 310 fund-quarter rows). Reflects only 13F filers tracked by SignalX, not the full institutional ownership universe. How 13F filings work
EW filing archive
AI analysis pages for each 10-K, 10-Q and 8-K
10-K annual reports
10-Q quarterly reports
Latest 2026 SEC Filings: 10-K, 10-Q, 8-K & Form 4
| Form | Filing date | Period | Analysis | SEC |
|---|---|---|---|---|
| 4 | Sep 14, 2026 | - | - | - |
| 4 | Sep 14, 2026 | - | - | - |
| 4 | Sep 11, 2026 | - | - | - |
| 4 | Sep 11, 2026 | - | - | - |
| 4 | Aug 31, 2026 | - | - | - |
| 4 | Aug 28, 2026 | - | - | - |
| 8-K | Aug 28, 2026 | - | Analysis | - |
| 4 | Aug 26, 2026 | - | - | - |
| 4 | Aug 26, 2026 | - | - | - |
| 4 | Aug 11, 2026 | - | - | - |
| 10-Q | Aug 4, 2026 | Jun 30, 2026 | Analysis | |
| 4 | Jul 30, 2026 | - | - | - |
| 4 | Jul 28, 2026 | - | - | - |
| 4 | Jul 27, 2026 | - | - | - |
| 8-K | Jul 23, 2026 | - | Analysis | - |
| 4 | Jul 13, 2026 | - | - | - |
| 4 | Jul 10, 2026 | - | - | - |
| 4 | Jul 10, 2026 | - | - | - |
| 4 | Jul 7, 2026 | - | - | - |
| 4 | Jun 30, 2026 | - | - | - |
| 4 | Jun 17, 2026 | - | - | - |
| 4 | May 29, 2026 | - | - | |
| 4 | May 27, 2026 | - | - | |
| 4 | May 22, 2026 | - | - | |
| 4 | May 18, 2026 | - | - |
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EW SEC filings: frequently asked questions
Are EW insiders buying or selling?
In the last 90 days, Edwards Lifesciences (EW) officers, directors and 10% owners reported no open-market purchases and 11 open-market sales worth $4.5 million by 6 insiders on Form 4. Many insider sales are pre-planned or for taxes, so purchases usually carry more information.
Which institutions hold EW stock?
As of June 30, 2026, the largest Edwards Lifesciences (EW) holders among the 13F filers tracked by SignalX were BlackRock ($5.3 billion), Vanguard Capital Management LLC ($3.4 billion), Vanguard Portfolio Management LLC ($2.4 billion), State Street Corp ($2.4 billion), JPMorgan Chase & Co ($2.1 billion). 13F-HR reports are filed up to 45 days after each quarter ends.
What was EW's revenue in fiscal year 2025?
For the fiscal year ended December 31, 2025 (FY2025), Edwards Lifesciences (EW) reported revenue of $6.1 billion (up 11.5% from FY2024) and net income of $1.1 billion. Diluted EPS was $1.83. The figures come from the XBRL data in the 10-K.
What are the main risks in EW's latest 10-K?
In the 10-K filed February 25, 2026, Edwards Lifesciences (EW) flagged: Section 232 investigation by U.S. Dept. of Commerce into medical device imports could impose tariffs, raising manufacturing costs and disrupting Edwards' supply chain. EU MDR compliance risk: unresolved EU-Switzerland Mutual Recognition Agreement may block Edwards from placing devices on EU market via Swiss operations. (AI summary of the Risk Factors section.)
What did EW report in its latest 8-K?
Edwards Lifesciences (EW) filed an 8-K on August 28, 2026 reporting Item 5.02 (Departure/Appointment of Directors or Principal Officers). Donald E. Bobo Jr. plans to retire by mid-2027 from Corporate Vice President, Strategy and Corporate Development.
What are the latest EW SEC filings?
Edwards Lifesciences (EW) filed its latest 10-K annual report on February 25, 2026, a 10-Q quarterly report on August 4, 2026, an 8-K current report on August 28, 2026 and a Form 4 insider filing on September 14, 2026.
What is EW's SEC CIK number?
Edwards Lifesciences (EW)'s SEC Central Index Key (CIK) is 1099800. EDGAR lists every EW filing under that number.
Ask anything about EW
The research agent reads EW's filings, financials, insider trades and 13F holders, then answers with sources.