BSX vs. EW: Which Heart Device Stock Is the Smarter Investment Now?

Cardiovascular disease is the biggest driver of health care spending in most countries, creating more opportunities for future growth. According to Mordor Intelligence, the cardiovascular devices market is expected to witness a CAGR of nearly 5% through 2025-2030, fueled by the rapid adoption of minimally invasive procedures, technological advancements and integration of AI-enabled diagnostic algorithms. Leading players like Boston Scientific BSX and Edwards Lifesciences EW continue to attract investors seeking exposure in this field.

Boston Scientific, with a market cap of nearly $144 billion, specializes in medical devices used across a range of interventional medical specialties. Edwards, valued at around $49 billion, has broad offerings for the treatment of advanced cardiovascular diseases. Both companies have also delivered strong performance in their most recent quarter. Let’s analyze which one looks more compelling today.

The Case for Boston Scientific

Boston Scientific’s consistent performance reflects the strength of its category leadership strategy, supported by continued innovation and clinical evidence generation. Its MedSurg businesses — Endoscopy, Urology and Neuromodulation — remain well-positioned in the $20 billion global market, which is projected to grow 7% through the 2026-2028 long-range plan, with the company aiming to outpace market growth in these areas. In Neuromodulation, the recently announced agreement to acquire Nalu Medical adds a new adjacency in peripheral nerve pain and represents another growth opportunity. The company has had some impressive value-adding acquisitions in the last 18 months, including Silk Road Medical, Intera Oncology, SoniVie and Elutia, Inc.

Boston Scientific also continues to gain share in the overall electrophysiology (EP) market, supported by the ongoing adoption of the Farapulse Pulsed Field Ablation (“PFA”) System. In July 2025, the device received FDA approval for expanded labeling to use in the treatment of drug-refractory, symptomatic, persistent atrial fibrillation (AF).

Meanwhile, WATCHMAN is one of the fastest-growing businesses at Boston Scientific. Even in the years ahead, the growth outlook continues to be highly favorable, driven by the continued concomitant uptake, the upcoming data presentation of CHAMPION in the first half of 2026 and the launch of the next-generation device, WATCHMAN Elite. Additionally, the company is stepping up efforts to grow in emerging markets, which present significant long-term opportunities supported by economic conditions, healthcare sectors and global capabilities.

In terms of the full-year outlook, net sales are expected to grow approximately 20% on a reported basis and approximately 15.5% on an organic basis. Adjusted earnings are anticipated between $3.02 and $3.04 per share, implying growth of 20% to 21% versus 2024.

The Case for Edwards Lifesciences

Edwards completed the sale of its Critical Care arm in September 2024, a strategic decision that was meant to sharpen its focus on structural heart innovation. In the third quarter of 2025, the company delivered 12.6% year-over-year growth, driven by its comprehensive portfolio across multiple therapeutic areas — aortic, pulmonic, mitral and tricuspid — and established presence in markets worldwide. 

Edwards continues to generate dividends on the RESILIA portfolio, with strong contributions from INSPIRIS, KONECT and MITRIS therapies, and expanding access globally. The company is also leveraging its structural heart expertise and extending into heart failure and AR, which are next-generation contributors to patient impact.

The introduction of SAPIEN M3 marks the beginning of increased physician awareness and referrals to the heart team to support treatment for patients in need. Together with PASCAL and EVOQUE, M3 is expected to be a contributor as Transcatheter Mitral and Tricuspid Therapies (“TMTT”) grow to an estimated $2 billion by 2030.

Meanwhile, the renewed focus on prioritizing treatment for patients suffering from aortic stenosis (AS) across the clinical community is driving gains for the Transcatheter Aortic Valve Replacement (“TAVR”) group. In April, it received FDA approval for the SAPIEN 3 platform for severe AS patients without symptoms. Third-quarter TAVR sales growth increased in multiple regions outside the United States, supported by new evidence, guideline updates and expanded education.

Full-year guidance also looks impressive. Its updated sales growth guidance is to the high end of 9-10% and adjusted EPS guidance to $2.56 to $2.62, up from the previous $2.45 to $2.55.

How Do Estimates Compare for BSX & EW?

The Zacks Consensus Estimate for Boston Scientific’s 2025 EPS implies a year-over-year increase of 21.1% to $3.04. Estimates have been trending upward in the last 90 days.

Meanwhile, the consensus mark for Edwards’ 2025 EPS of $2.59 has edged up 3.6% in the past 60 days. The estimate indicates a 6.6% improvement over 2024.

BSX & EW: Price Performance and Valuation

Both companies have outperformed the broader Medical sector year to date, but Edwards has shown more resilience than Boston Scientific. 

In terms of valuation, Boston Scientific trades at forward 12-month price-to-sales (P/S) of 6.51X, lower than its own median as well as Edwards’ P/E of 7.53X. 

BSX or EW: Which One to Pick?

Both companies stand to capitalize on the growth trends in the expanding cardiovascular devices market. Boston Scientific stands out with its broad EP portfolio, strength in WATCHMAN and new adjacencies added through impactful acquisitions. Edwards’ centered focus on structural heart innovation is a highlight, as it continues to gain from its comprehensive portfolio and widespread presence. Analysts also continue to be bullish on both BSX and EW. Still, Boston Scientific’s attractive valuation makes it a more compelling option for now. BSX has a Zacks Rank #2 (Buy), while EW carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

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This article originally published on Zacks Investment Research (zacks.com).

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