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Special Report A Closer Look at Healthcare Sector Earnings: AZN vs. EW vs. ZBHSubmitted by Nathan Reiff. Posted: 2/12/2026. 
Summary - 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 provide investors with a clear window into a firm's pipeline and development progress. Even established, stable firms can surprise the market with growth after a new blockbuster drug or device, and earnings seasons give management a chance to add context beyond regulatory notices like FDA approvals. When multiple healthcare companies report on the same day, investors must sort through a lot of news and adjust their plans accordingly. On Feb. 10, 2025, three major names—AstraZeneca (NASDAQ: AZN), Edwards Lifesciences (NYSE: EW), and Zimmer Biomet (NYSE: ZBH)—reported full-year and Q4 2025 results. Below are the highlights and takeaways for healthcare investors. AstraZeneca Firms Up Cancer Business in a Strong Overall Quarterly Performance For years, the American economy has been engineered to reward Wall Street institutional investors and Silicon Valley insiders first.
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But this rigged game ends today! Click here now and I'll show you how to claim your stake… U.K.-based pharma giant AstraZeneca closed 2025 by reinforcing its position as a leading provider of cancer treatments, which made up about 44% of product sales in the quarter. Sales of oncology drugs such as Imfinzi and Enhertu rose as much as 48% year-over-year (YOY), helping total revenue grow 8.6% to $58.7 billion for the year. After-tax profits jumped alongside revenue, rising to $10.2 billion from $7 billion in the prior-year quarter. The board declared a second interim dividend that was 7 cents higher than last year's. Investors can also look ahead to a busy 2026 as AstraZeneca advances dozens of drugs through clinical trials. Management said 20 Phase 3 readouts are expected in 2026, and the company projects solid increases in both total revenue and core earnings per share (EPS) for the full year. In the hours after its strong earnings release, AZN shares rose nearly 3%. While 10 of 11 analysts rate AZN a Buy or equivalent, there remains a valuation gap— the consensus price target of $95.75 implies roughly a 51% downside from recent levels, according to Wall Street estimates. TAVR Momentum Fuels Edwards Sales Growth, Though Investors Should Be Mindful of Earnings and Margin Limitations Edwards makes replacement heart valves, related surgical devices, and monitoring systems. Its Q4 2025 results were broadly positive, with sales up 13.3% YOY, driven by strong transcatheter aortic valve replacement (TAVR) demand and adoption of the latest SAPIEN valve. However, adjusted EPS missed analyst expectations, and gross profit margin declined by 0.8 percentage points year-over-year. Despite the mixed signals in the quarter, Edwards reiterated its prior 2026 outlook, which called for sales growth of 8%–10% YOY and EPS between $2.90 and $3.05. EW shares climbed above $80 in after-hours trading—about 4% higher than the prior close. About two-thirds of analysts covering EW rate the stock a Buy, and the consensus target implies roughly 25% upside to about $96.77. Orthopedic Demand Remains High, But Zimmer Faces Some Headwinds Going Forward Zimmer Biomet, a maker of joint replacement systems and implants, saw shares rise more than 3% after reporting EPS of $2.42—4 cents 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. Zimmer is also refocusing to emphasize U.S. sales, which represent nearly 60% of the business. With insured patient utilization continuing to climb, demand for Zimmer's products should remain elevated in the near term. That said, the company will likely face headwinds from tariffs that could weigh on EPS and revenue in 2026. Management issued conservative guidance in the latest report, forecasting adjusted EPS between $8.30 and $8.45 and free cash flow improvement of 8%–10%. Before the release, analysts were split on Zimmer; the stock held an overall Hold rating despite about 15% projected upside, according to coverage data. Bottom line: these reports reinforce that healthcare earnings can hinge on both product momentum and margin dynamics. Investors should weigh near-term catalysts—like trial readouts and device adoption—against valuation, guidance and structural pressures such as tariffs when positioning in the sector.
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