On Jul 11, we issued an updated research report on the leading molecular diagnostic company, Edwards Lifesciences Corporation EW. The stock currently flaunts a Zacks Rank #1 (Strong Buy).Over the last one month, Edwards Lifesciences has been trading above the Zacks categorized Medical - Instruments industry. The stock has gained 2.7% in this period, higher than the broader industry’s 0.3% increase. The company getting several FDA approvals of late also raises hope. This includes SAPIEN 3 THV for valve-in-valve procedures and INSPIRIS RESILIA aortic valve.Edwards Lifesciences Corporation Price and Consensus Edwards Lifesciences Corporation Price and Consensus | Edwards Lifesciences Corporation QuoteWe are encouraged by the company’s long-term growth strategies and recent progress in its technology pipeline. As far as transcatheter heart valve (THV) goes, Edwards Lifesciences expects to maintain its leadership position in the global Transcatheter Aortic Valve Replacement (TAVR) market through increased focus on expanding patient access, actively leveraging current valve platforms for additional indications, developing next-generation valve platforms as well as maintaining relationships with clinicians, payers and regulators.During the last reported first-quarter 2017, management raised the lower end of the 2017 revenue guidance to indicate that this bullish trend will continue in the upcoming quarters.Edwards Lifesciences’ focus on building its pipeline to strengthen its foothold across all operating businesses may augur well for the company on the road ahead. In the first quarter of 2017, the company received an FDA clearance for its HemoSphere advanced monitoring platform. It has also witnessed growth across the emerging portfolio of mitral and tricuspid repair therapies, thanks to the positive feedback received during the reported quarter.This apart, we are optimistic to note that management is striving to reinforce its hold in Asia, especially in Japan. The company is also looking forward to its launch of INSPIRIS RESILIA aortic valve by the end of 2017 in Japan.On the flip side, foreign exchange headwinds continue to come across as a major dampener for the company’s international businesses. Besides, a competitive landscape in the overseas market also weighs on Edwards Lifesciences’ prospects. The U.S. government’s significant reforms to overhaul the health care system bear potential to affect the company’s financial position.Other Key PicksOther top-ranked medical stocks are Mesa Laboratories, Inc. MLAB, Abbott Laboratories ABT and Align Technology, Inc. ALGN. While Mesa Laboratories sports a Zacks Rank #1(Strong Buy), Abbott and Align Technology carry a Zacks Rank #2(Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.Mesa Laboratories delivered a positive earnings surprise of 2.84% over the last four quarters. The stock has added roughly 11.6% over the last three months.Abbott Laboratories has an expected long-term adjusted earnings growth of 10.84%. The stock has added around 12.8% over the last three months.Align Technology has an expected long-term adjusted earnings growth of almost 24.1%. The stock has surged nearly 32.8% over the last three months.Accelerate Diagnostics has a long-term expected earnings growth rate of 30.0%. The stock has added roughly 10.1% over the last three months.More Stock News: 8 Companies Verge on Apple-Like Run Did you miss Apple's 9X stock explosion after they launched their iPhone in 2007? Now 2017 looks to be a pivotal year to get in on another emerging technology expected to rock the market. Demand could soar from almost nothing to $42 billion by 2025. Reports suggest it could save 10 million lives per decade which could in turn save $200 billion in U.S. healthcare costs.A bonus Zacks Special Report names this breakthrough and the 8 best stocks to exploit it. Like Apple in 2007, these companies are already strong and coiling for potential mega-gains. Click to see them right now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Abbott Laboratories (ABT): Free Stock Analysis Report Mesa Laboratories, Inc. (MLAB): Free Stock Analysis Report Edwards Lifesciences Corporation (EW): Free Stock Analysis Report Align Technology, Inc. (ALGN): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research