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Today's Exclusive Content A Closer Look at Healthcare Sector Earnings: AZN vs. EW vs. ZBHAuthor: Nathan Reiff. Publication Date: 2/12/2026. 
In Brief - 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 give investors a clear view into a firm's pipeline and development progress. Even well-established, stable firms can surprise with growth after releasing a blockbuster drug or medical device, and earnings periods are an opportunity for management to provide context and commentary beyond what investors might learn from FDA notices alone. When healthcare companies release earnings on the same day, it creates a busy window for investors trying to sort through the news and plan trades. On Feb. 10, 2026, three major names in the sector—AstraZeneca (NASDAQ: AZN), Edwards Lifesciences (NYSE: EW), and Zimmer Biomet (NYSE: ZBH)—reported full-year and Q4 2025 results. Below are highlights and takeaways for healthcare investors planning next steps. 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 go-to provider of cancer medicines: oncology accounted for about 44% of product sales for the quarter. Sales of oncology drugs such as Imfinzi and Enhertu rose as much as 48% year-over-year (YOY), helping fuel total revenue growth of 8.6% to $58.7 billion for the quarter. After-tax profits surged alongside revenue, climbing to $10.2 billion from $7 billion in the prior-year quarter. The board declared a second interim dividend that is 7 cents higher than last year's. Investors also have more to watch as AstraZeneca advances dozens of new drugs 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. In the hours after its strong earnings, AZN shares climbed close to 3%. Although 10 of 11 analysts rate AZN a Buy or equivalent, Wall Street has raised valuation questions—consensus price targets imply roughly a 51% downside from the current share price, based on a $95.75 target. TAVR Momentum Fuels Edwards Sales Growth, Though Earnings and Margins Show Limits Edwards Lifesciences makes replacement heart valves, monitoring systems and related surgical devices. 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 demand for the latest SAPIEN valve. However, adjusted EPS missed analyst expectations and gross profit margin narrowed by 0.8% YOY. Despite the mixed quarter, Edwards remains confident it can meet its prior 2026 outlook, which called for sales growth of 8%–10% YOY and EPS between $2.90 and $3.05. EW shares traded above $80 in after-hours action, roughly 4% higher than the prior close. About two-thirds of analysts covering EW rate the shares a Buy, and the consensus 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 share price rise more than 3% in the hours after reporting EPS of $2.42, four cents above consensus, and revenue of $2.2 billion, up nearly 11% YOY and slightly ahead of expectations. Strong demand for orthopedic products supported both top- and bottom-line growth. Zimmer is also shifting to focus more on U.S. sales, where it derives close to 60% of its business. With insured patients continuing to drive utilization higher, near-term demand for Zimmer's products is expected to remain robust. That said, tariffs are likely to weigh on results and could pressure EPS and revenue in 2026. Management issued conservative guidance in the latest 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 roughly 15% projected upside potential in consensus estimates.
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