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This Week's Exclusive Story A Closer Look at Healthcare Sector Earnings: AZN vs. EW vs. ZBHReported by Nathan Reiff. Published: 2/12/2026. 
At a Glance - 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 a simple financial check-up, earnings for companies in the healthcare sector offer investors a window into a firm's drug and device pipelines and development progress. Even established, stable firms can surprise with growth after releasing a blockbuster therapy or device, and earnings periods give management a chance to provide context and outlook beyond regulatory notices like FDA approvals. When healthcare companies report on the same day, investors can face a busy news cycle as they sort through the takeaways and plan 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 Ian King has learned from a White House leak that President Trump is expected to sign what may be his final executive order on February 24th. After issuing 220 executive orders in one year with nearly three full years left in office, this announcement appears significant. King, chief strategist at Strategic Fortunes, reviewed the leaked details and believes this could be a major development. He's prepared a full briefing on what this executive order could mean and why it may be Trump's last. Get the full story here U.K.-based pharma giant AstraZeneca closed 2025 by reinforcing its position in oncology, which accounted for roughly 44% of product sales in the quarter. Sales of key cancer drugs such as Imfinzi and Enhertu rose as much as 48% year-over-year (YOY), helping drive total revenue up 8.6% to $58.7 billion for the quarter. After-tax profits surged alongside revenue, increasing to $10.2 billion from $7 billion in the prior-year quarter, and the board approved a second interim dividend that is 7 cents higher than last year's. Investors also have several upcoming catalysts as AstraZeneca advances dozens of programs in clinical development. Management said it expects 20 Phase 3 readouts in 2026 and expects solid increases in both total revenue and core earnings per share (EPS) for the full year. In the hours after the company released its strong earnings, AZN shares climbed roughly 3%. Although 10 of 11 analysts rate AZN a Buy or equivalent, Wall Street flags valuation concerns: the consensus price target of $95.75 implies about a 51% downside from current levels. TAVR Momentum Fuels Edwards Sales Growth, Though Investors Should Watch Margins Edwards Lifesciences makes replacement heart valves, related surgical devices and monitoring systems. The firm's Q4 2025 results were mostly positive, with sales up 13.3% YOY driven by strong transcatheter aortic valve replacement (TAVR) momentum and demand for the latest SAPIEN valve. However, adjusted EPS missed analyst expectations, and gross profit margin declined by 0.8 percentage points year-over-year. Despite those headwinds, Edwards reiterated optimism that 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 about 4% in after-hours trading, moving above $80. About two-thirds of analysts rate EW a Buy, and the consensus suggests roughly 25% upside to a target of $96.77. Orthopedic Demand Remains High, But Zimmer Faces Some Headwinds Zimmer Biomet, a maker of joint replacement systems and implants, saw shares rise more than 3% hours after reporting 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 Zimmer's orthopedic products supported both top- and bottom-line growth. Zimmer is also shifting to concentrate more on U.S. sales, which account for roughly 60% of its business. Rising utilization among insured patients should help sustain near-term demand for the company's products. That said, tariffs remain a potential headwind that could pressure EPS and revenue in 2026. Management reflected that caution in its guidance, which calls for adjusted EPS of $8.30–$8.45 and free cash flow improvement of 8%–10%. Analysts were divided ahead of the report, assigning Zimmer an overall Hold rating, though the consensus still implies roughly 15% upside potential to the current share price.
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