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Further Reading from MarketBeat A Closer Look at Healthcare Sector Earnings: AZN vs. EW vs. ZBHWritten by Nathan Reiff. First Published: 2/12/2026. 
Key Takeaways - 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.
More than just a financial check-up, earnings for companies in the healthcare sector offer a key window for investors into a firm's pipeline and development progress. Even well-established, stable firms can surprise with growth after the release of a new blockbuster drug or medical device, and earnings periods give management a chance to provide insight beyond what investors might learn from FDA approval notices. When multiple healthcare companies report on the same day, investors face a busy news flow as they sort through highlights and plan trades. On Feb. 10, 2025, three major names—AstraZeneca (NASDAQ: AZN), Edwards Lifesciences (NYSE: EW), and Zimmer Biomet (NYSE: ZBH)—released full-year and Q4 2025 results. Below are the key takeaways for healthcare investors. AstraZeneca Firms Up Cancer Business in a Strong Overall Quarterly Performance U.K.-based pharma giant AstraZeneca closed out 2025 by cementing its position as a leading oncology company: cancer medicines made up roughly 44% of product sales in the quarter. Sales of oncology staples such as Imfinzi and Enhertu rose as much as 48% year-over-year (YOY), helping to drive total revenue up 8.6% to $58.7 billion for the period. Net income also jumped, rising to $10.2 billion from $7 billion in the year-ago quarter, and the company's board declared a second interim dividend that is $0.07 higher than last year's. Investors can expect continued news flow as AstraZeneca advances dozens of candidates through clinical trials. Management said 20 Phase 3 readouts are expected in 2026, and the company forecasts solid increases in both total revenue and core earnings per share (EPS) for the full year. Shares of AZN climbed nearly 3% in the hours after the company released its full-year and Q4 2025 results. While 10 of 11 analysts rate AZN a Buy or equivalent, some on Wall Street question the firm's valuation—based on a consensus price target of $95.75, analysts imply downside of roughly 51% from current levels. TAVR Momentum Fuels Edwards Sales Growth, Though Earnings and Margins Show Limits Edwards Lifesciences, which makes replacement heart valves and monitoring systems, reported largely positive Q4 results. The company posted 13.3% YOY sales growth, driven by strong transcatheter aortic valve replacement (TAVR) demand and uptake of the latest SAPIEN valve. However, adjusted EPS missed analysts' expectations, and gross profit margin declined by 0.8 percentage points YOY. Despite those mixed signals, Edwards remains confident in meeting its prior 2026 outlook, which called for sales growth of 8%–10% YOY and EPS between $2.90 and $3.05. EW shares rose about 4% in after-hours trading following the announcement. Around two-thirds of analysts rate EW a Buy, and the Street's consensus price target implies roughly 25% upside to $96.77. Orthopedic Demand Remains High, But Zimmer Faces Some Headwinds Zimmer Biomet, a maker of joint replacement systems and implants, saw shares climb more than 3% after reporting Q4 EPS of $2.42—$0.04 above consensus—and revenue of $2.2 billion, up nearly 11% YOY and slightly ahead of estimates. Strong demand for orthopedic products supported both top- and bottom-line growth. The company is shifting focus toward the U.S. market, which represents about 60% of its business, and continued utilization among insured patients should support near-term demand for Zimmer's products. Still, Zimmer warned that tariffs could weigh on EPS and revenue in 2026, and management issued conservative guidance: adjusted EPS of $8.30–$8.45 and free cash flow improvement of 8%–10%, as noted in the latest earnings report. Before the release, analysts were divided on Zimmer, giving it an overall Hold rating despite roughly 15% projected upside in the consensus forecast (ZBH forecast).
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