Edwards Lifesciences (EW): The Medical Device Leader Behind the TAVR Boom

Aristotle Capital Management released its Q2 2026 investor letter, which detailed the performance of its Value Equity Fund. The Fund delivered a 4.32% total return in the quarter, falling short of both the Russell 1000 Value Index's 13.87% gain and the S&P 500's 15.20% return. The Fund's underperformance was attributed largely to limited exposure to the AI infrastructure spending boom.

Edwards Lifesciences Corporation (NYSE:EW), headquartered in Irvine, California, was one of the fund's top holdings. The company develops medical technologies primarily focused on treating advanced cardiovascular diseases and is best known for its leadership in transcatheter aortic valve replacement (TAVR). TAVR is a minimally invasive procedure that replaces diseased heart valves without open-heart surgery, reducing invasiveness, recovery time, and risk compared to traditional surgical valve replacement.