Core Thesis - Edwards Lifesciences Corporation is experiencing a bullish trend due to strong Q2 results, marking a return to double-digit growth after several quarters of slower momentum [2][5] - The company's stock price was $76.05 as of September 15th, with trailing and forward P/E ratios of 31.82 and 28.17 respectively [1] Financial Performance - Q2 revenue increased by 11% year-over-year, exceeding consensus expectations of 8%, while adjusted EPS was $0.67, beating estimates by 8% [2] - The stock reacted positively, climbing 5% on the day and showing a 16% rebound from January 2025 lows [2] Market Position - Edwards Lifesciences is recognized as the highest-quality company in the structural heart disease space, with its Sapien platform being the only TAVR approved for asymptomatic patients in both the U.S. and Europe [2] - Improved durability data for Sapien strengthens its competitive position against surgical valve replacements [3] Segment Performance - TAVR revenue grew by 8%, while transcatheter mitral and tricuspid therapies (TMTT) surged by 57% due to strong adoption of Evoque and Pascal [3] - Surgical revenue also grew by 7%, aligning with long-term targets [3] Future Outlook - Management raised 2025 revenue guidance to 9–10% and EPS guidance to the high end of the $2.40–2.50 range [4] - Fair value estimates imply a five-year CAGR of 12.6% based on a valuation model assuming 10% revenue growth and expanding margins [4] - Despite recent gains, Edwards remains undervalued, presenting attractive upside potential relative to the broader market [4]