Edwards Lifesciences Corporation (EW) is recognized as a high-quality business with a significant economic moat and impressive growth trajectory. However, its stock has faced a major correction since 2022, currently trading at nearly 47 times earnings and free cash flow, which many analysts consider overvalued. In its recent first-quarter 2026 results, the company reported strong performance and raised its guidance for the year, expecting sales growth between 9% and 11%, along with improving profit margins. Management forecasts double-digit earnings per share (EPS) growth through 2030 and plans to continue share buybacks. Despite these positive indicators, analysts maintain a 'Hold' rating, advising investors to wait for a pullback to approximately $60 before entering, citing valuation concerns and potential competitive and policy risks. This cautious approach reflects the broader sentiment that while Edwards Lifesciences has the fundamentals of a strong business, its current stock price may not offer sufficient value to investors at this time.