LIVE
EW
Edwards Lifesciences Corporation · Healthcare - Medical Devices
$87.36
+6.33% this month
VERSUS
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COMPARE
NVCR
NovaCure Limited · Healthcare - Medical Devices & Oncology
$14.28
-16.05% this month
Scoreboard verdict
Across AI score, momentum, valuation, upside, operating margin
EW
2
NVCR
2
Comparison scoreboard
MIXED SETUPAI Score
EW ✓41.8
NVCR 34.0
1Y Return
EW ✓+19.23%
NVCR -15.00%
Fwd P/E
EW 25.27
NVCR ✓-11.97
Target Up.
EW +13.88%
NVCR ✓+82.07%
Op. Margin
EW 31.22%
NVCR N/A
Metrics last refreshed: 6/20/2026
Quick take
EW vs NVCR Stock Comparison: AI Score, Valuation, Performance and Upside
EW (Edwards Lifesciences) and NVCR (NovaCure) are both innovative medical device companies but in very different stages and market positions — Edwards is a large-cap, profitable medical device leader with dominant TAVR market position and $6B+ revenue, while NovaCure is a commercial-stage but pre-profitability company with a unique cancer therapy modality in a small GBM market awaiting pipeline catalysts in larger tumor indications. Edwards is the mature medical device growth compounder; NovaCure is the high-risk, high-reward oncology platform bet.
EW vs NVCR is established structural heart valve leader generating strong growth and profitability (Edwards Lifesciences' TAVR market dominance and TMTT pipeline building toward the next billion-dollar structural heart opportunity) versus novel electric field cancer therapy platform at an inflection point (NovaCure's Optune GBM business generating recurring revenue while the TTFields technology awaits potentially transformative expansion into lung cancer and other solid tumor types) — proven large-cap medical device versus pre-profitability oncology platform with large optionality.
Live analysis · updated 6/20/2026
EW and NVCR are closely matched — they split the tracked metrics evenly. EW has delivered stronger 1-year price return (+19.23% vs -15.00%), though NVCR trades at the lower forward P/E (-11.97x vs 25.27x). Analyst consensus implies meaningfully more upside for NVCR (+82.07%) than for EW (+13.88%).
Normalized 1Y performance
EW
NVCR
Recent returns
EW
NVCR
Analyst price targets & sentiment
EW
Price target range
analyst mean$96.92
current price$87.36
+13.9% upside to analyst mean
NVCR · 7 analysts
STRONG BUYHOLDSTRONG SELL
Buy (1.7/5.0)
Price target range
analyst low$17.00
analyst high$46.00
analyst mean$26.00
current price$14.28
+82.1% upside to analyst mean
Who should consider this stock?
EW may suit investors who:
- →Want the dominant structural heart valve medical device company with TAVR market leadership, strong financial execution, and a clear multi-year growth roadmap into TMTT and lower-risk patient populations
- →Value Edwards' innovative culture and continuous product iteration as creating durable competitive advantages that maintain market leadership against Medtronic and other large device competitors
- →Prefer a profitable, large-cap medical device growth story over NovaCure's pre-profitability, clinical-trial-dependent value creation model
NVCR may suit investors who:
- →Believe TTFields' unique mechanism represents a genuine new pillar of cancer therapy beyond chemotherapy, immunotherapy, and radiation — and that NovaCure's Phase 3 lung cancer trial success would unlock a $10B+ addressable market
- →Accept NovaCure's pre-profitability and high R&D burn as necessary investment to prove TTFields in multiple tumor types, with the potential payoff being one of the most valuable oncology franchises if the data succeeds
- →Want an asymmetric risk/reward medical device investment with binary catalyst potential (positive Phase 3 lung cancer data would likely cause dramatic stock appreciation; negative data would be sharply negative)
Performance & AI score
| Metric | EW | NVCR |
|---|---|---|
| AI score | 41.8 | 34.0 |
| AI rank | #910 | #1808 |
| Latest close | $87.36 | $14.28 |
| 1M return | +6.33% | -16.05% |
| 6M return | +2.97% | +15.82% |
| 1Y return | +19.23% | -15.00% |
$10,000 invested — hypothetical growth (dividends reinvested)
How much would $10,000 be worth today if invested at the start of each period, with all dividends reinvested?
| Period | EW | NVCR |
|---|---|---|
| 1Y ago | $11.81K (+18.1%) started 2025-06-18 | $8.5K (-15.0%) started 2025-06-18 |
| 5Y ago | $8.49K (-15.1%) started 2021-06-21 | $654.93 (-93.5%) started 2021-06-18 |
| 10Y ago | $26.43K (+164.3%) started 2016-06-20 | $12.24K (+22.4%) started 2016-06-20 |
Hypothetical — past performance does not guarantee future results.
Valuation & upside potential
| Metric | EW | NVCR |
|---|---|---|
| Market cap | $49.01B | $1.65B |
| Trailing P/E | 46.01 | N/A |
| Forward P/E | 25.27 | -11.97 |
| Price/Sales | N/A | 2.45 |
| EV/Revenue | 7.30 | 2.71 |
| Analyst target | $96.92 | $26.00 |
| Target upside | +13.88% | +82.07% |
Growth, profitability & risk
| Metric | EW | NVCR |
|---|---|---|
| Revenue growth | 16.70% | 12.30% |
| Earnings growth | 8.20% | N/A |
| EPS growth | +8.20% | N/A |
| FCF margin | +14.31% | +0.75% |
| Operating margin | 31.22% | N/A |
| Profit margin | 17.39% | -25.66% |
| ROIC proxy | 10.46% | -49.96% |
| Return on equity | 10.46% | -49.96% |
| Dividend yield | N/A | 0.00% |
| Beta | 0.87 | 0.92 |
| Debt/equity | 6.81 | 71.04 |
| Current ratio | 4.42 | 2.90 |
| Quick ratio | 3.30 | 2.66 |
Drawdown & downside risk
Lower drawdown and smaller single-period drops generally indicate a smoother ride, though they do not guarantee lower future risk.
1Y risk snapshot
EW max drawdown12.73%
NVCR max drawdown45.67%
EW max wkly drop7.39%
NVCR max wkly drop33.56%
5Y risk snapshot
EW max drawdown54.32%
NVCR max drawdown95.55%
EW max wkly drop30.43%
NVCR max wkly drop46.39%
10Y risk snapshot
EW max drawdown54.32%
NVCR max drawdown95.55%
EW max wkly drop30.43%
NVCR max wkly drop46.39%
Performance metrics by period
| Period | Metric | EW | NVCR |
|---|---|---|---|
| 1Y | Growth | +18.09% | -15.00% |
| CAGR | +18.11% | -15.01% | |
| Sharpe ratio | 0.62 | 0.10 | |
| Max drawdown | 12.73% | 45.67% | |
| Max daily drop | 3.64% | 24.05% | |
| Max wkly drop | 7.39% | 33.56% | |
| 5Y | Growth | -15.05% | -93.45% |
| CAGR | -3.22% | -42.03% | |
| Sharpe ratio | -0.07 | -0.35 | |
| Max drawdown | 54.32% | 95.55% | |
| Max daily drop | 31.34% | 43.04% | |
| Max wkly drop | 30.43% | 46.39% | |
| 10Y | Growth | +164.30% | +22.37% |
| CAGR | +10.21% | +2.04% | |
| Sharpe ratio | 0.33 | 0.32 | |
| Max drawdown | 54.32% | 95.55% | |
| Max daily drop | 31.34% | 43.04% | |
| Max wkly drop | 30.43% | 46.39% |
Business comparison
| Category | EW | NVCR |
|---|---|---|
| Company | Edwards Lifesciences Corporation | NovaCure Limited |
| Sector | Healthcare | Healthcare - Medical Devices & Oncology |
| Industry | N/A | N/A |
| Core business | Edwards Lifesciences is the global leader in transcatheter heart valve replacement (TAVR) and transcatheter mitral and tricuspid repair therapies. Edwards' flagship product is the SAPIEN transcatheter aortic valve (SAPIEN 3, SAPIEN 3 Ultra) — a catheter-delivered replacement valve for patients with severe aortic stenosis who are high-surgical-risk or inoperable. TAVR has revolutionized aortic stenosis treatment by enabling valve replacement without open-heart surgery. Edwards also leads in critical care monitoring systems (hemodynamic monitoring during surgery). | NovaCure is an oncology company that developed Tumor Treating Fields (TTFields) — a unique cancer therapy using electric fields delivered through wearable transducer arrays to disrupt cancer cell division. TTFields are FDA-approved for glioblastoma (GBM, the deadliest brain cancer) as Optune and for pleural mesothelioma as Optune Lua. NovaCure generates recurring monthly revenue through device rentals (~$21,000/month average selling price in the U.S.) to GBM patients using Optune alongside standard chemotherapy. NovaCure has ongoing clinical trials in numerous additional tumor types (lung cancer NSCLC, pancreatic, ovarian, liver, brain metastases). |
| Investor focus | Investors track Edwards' TAVR revenue growth (quarterly unit volumes and ASP trends), the TAVR total addressable market expansion into lower-risk and younger patients, TMTT (transcatheter mitral and tricuspid therapy) early-stage growth, surgical heart valve performance, and Edwards' clinical trial pipeline expanding TAVR into new patient populations. | Investors track NovaCure's active patient count (Optune active patients generating monthly rental revenue), reimbursement coverage expansion (payor coverage decisions directly impact patient access and adoption), NSCLC lung cancer Phase 3 trial readouts (the potential to approve TTFields in the massive lung cancer market would be transformative), and pathway to profitability as R&D spend on multiple trials is high. |
EW strengths
- →TAVR market leadership in the most significant structural heart innovation in decades — Edwards pioneered TAVR and holds the leading market share globally; TAVR has replaced surgical aortic valve replacement for the majority of eligible patients, and the market continues growing as guidelines expand to lower-risk patient populations
- →Durable competitive position through continuous innovation — Edwards' SAPIEN valve family continuously improves (SAPIEN 3 Ultra Resilia tissue, reduced delivery systems); technological iteration and physician training create switching costs that make it difficult for competitors like Medtronic to displace Edwards in high-volume centers
- →TMTT represents the next multi-billion dollar structural heart opportunity — mitral and tricuspid valve disease affects millions more patients than aortic stenosis; Edwards' CLASP and TRISCEND programs target these larger unmet needs; successful TMTT could double Edwards' addressable structural heart market
NVCR strengths
- →Novel cancer treatment mechanism with no competitor — TTFields are a completely unique cancer therapy modality (not chemotherapy, not immunotherapy, not radiation); NovaCure holds a foundational patent estate and 10+ years of clinical validation in GBM that no competitor can replicate quickly
- →Recurring monthly subscription revenue model — Optune's ~$21,000/month U.S. rental price creates high-value recurring revenue per patient for the duration of GBM treatment; the monthly subscription model generates predictable, high-margin revenue from each approved patient
- →Broad clinical pipeline could multiply addressable market 10x+ — GBM is a $1-2B TAM; if NovaCure successfully expands TTFields into lung cancer (NSCLC has 250,000 new U.S. cases annually), the addressable market could exceed $10-20B; positive Phase 3 data in lung would be a transformative catalyst
Risks to watch — EW
- →TAVR market maturation risk as penetration of the highest-risk population approaches saturation — the highest-risk aortic stenosis patients have been largely treated with TAVR; future growth requires continued expansion to lower-risk and intermediate-risk patients who historically received surgical valve replacement
- →Competition from Medtronic Evolut platform — Medtronic's Evolut system is the primary TAVR competitor; clinical data comparisons and physician preference drive market share; Edwards must maintain procedural outcomes superiority to defend pricing and volume
- →TMTT timeline longer than originally anticipated — mitral and tricuspid valve therapies are technically more challenging than aortic; product iterations, clinical trial enrollments, and FDA approval timelines for TMTT have extended beyond initial guidance
Risks to watch — NVCR
- →GBM market has limited growth potential as a small patient population — glioblastoma is a severe but rare cancer (~12,000 new U.S. cases annually); growing the GBM business significantly requires increasing penetration rate (Optune adoption among all eligible GBM patients), which faces payor and physician education barriers
- →Phase 3 trial failures in new indications would be highly negative — NovaCure's pipeline investment assumes TTFields will work in additional tumor types; Phase 3 failures in lung cancer or other key trials would destroy significant expected future value
- →Device compliance challenges — TTFields require 18+ hours/day of device use to achieve efficacy; some patients find the wearable arrays (shaved head, multiple electrodes) burdensome; compliance rates affect clinical outcomes and commercial uptake
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