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Thursday's Exclusive News A Closer Look at Healthcare Sector Earnings: AZN vs. EW vs. ZBHReported by Nathan Reiff. Article Posted: 2/12/2026. 
Key Points - AstraZeneca, Edwards Lifesciences, and Zimmer Biomet all reported earnings on the same day, but with vastly different results.
- Of these, AstraZeneca's impressive oncology medicine sales growth stands out, having driven significant top-line growth.
- Edwards and Zimmer both saw notable successes in the latest quarter, but also face sizable challenges.
- Special Report: [Sponsorship-Ad-6-Format3]
More than a financial check-up, earnings for companies in the healthcare sector provide an important window into a company's pipeline and development progress. Even well-established healthcare companies can post unexpected growth after a blockbuster drug or device launch; earnings season lets management offer insights beyond what investors might glean from FDA approval notices. When healthcare companies release earnings on the same day, it can be a busy period for investors sorting through the news and planning trades. On Feb. 10, 2025, three major names in the sector—AstraZeneca (NASDAQ: AZN), Edwards Lifesciences (NYSE: EW), and Zimmer Biomet (NYSE: ZBH)—all reported full-year and Q4 2025 results. Below are highlights and takeaways for healthcare investors. AstraZeneca Firms Up Cancer Business in a Strong Overall Quarterly Performance U.K.-based pharma giant AstraZeneca ended 2025 by cementing its position as a leading provider of cancer medicines. Oncology accounted for about 44% of product sales in the final quarter. Sales of key cancer drugs such as Imfinzi and Enhertu rose by as much as 48% year-over-year (YOY), helping drive total revenue up 8.6% to $58.7 billion for the quarter. Net income climbed alongside revenue, rising to $10.2 billion from $7 billion in the prior-year quarter, prompting the board to declare a second interim dividend seven cents higher than last year's. Investors also have milestones to watch in 2026: management said 20 Phase 3 readouts are expected next year, and the company forecast solid increases in both total revenue and core earnings per share (EPS) for the full year. In the hours after its strong earnings performance, AZN shares climbed nearly 3%. Although 10 of 11 analysts rate AZN a Buy or equivalent, the consensus price target of $95.75 implies roughly 51% downside from current levels, highlighting valuation concerns. TAVR Momentum Fuels Edwards Sales Growth, Though Earnings and Margins Lag Edwards makes replacement heart valves and related surgical devices, along with monitoring systems. The firm's Q4 2025 results were largely positive, including 13.3% YOY sales growth driven by strong transcatheter aortic valve replacement (TAVR) momentum and adoption of the latest SAPIEN valve iteration. At the same time, adjusted EPS missed analyst expectations, and gross profit margin declined 0.8% YOY. Despite the mixed quarter, Edwards remains confident it can meet its prior 2026 outlook calling for sales growth of 8%–10% YOY and EPS of $2.90–$3.05. EW shares rose above $80 in after-hours trading, about 4% above the prior close, following the announcement. About two-thirds of analysts covering EW rate the shares a Buy, and the consensus price target of $96.77 implies roughly 25% upside. Orthopedic Demand Remains High, but Zimmer Faces Some Headwinds Zimmer Biomet, a maker of joint replacement systems and implants, saw its shares climb more than 3% after reporting EPS of $2.42—four cents above consensus—and revenue of $2.2 billion, up nearly 11% YOY and slightly ahead of forecasts. Strong demand for orthopedic products helped drive both top- and bottom-line growth. Zimmer is also transitioning to focus more on U.S. sales, which represent close to 60% of its business. With utilization among insured patients rising, demand for Zimmer's products is expected to remain strong near term. However, tariffs are likely to continue weighing on the company, potentially pressuring EPS and revenue in 2026. Management issued conservative guidance in the latest earnings report, including adjusted EPS of $8.30–$8.45 and free cash flow improvement of 8%–10%. Analysts remain divided on Zimmer. The company carries an overall Hold rating despite about 15% projected upside potential.
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