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Just For You A Closer Look at Healthcare Sector Earnings: AZN vs. EW vs. ZBHReported by Nathan Reiff. Article Posted: 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 financial check-up, earnings for companies in the healthcare sector give investors a key window into a firm's drug and device pipeline and development progress. Even well-established firms can surprise with growth after a blockbuster drug or medical device release, and earnings season is an opportunity for management to add context beyond regulatory notices such as FDA approvals. When multiple healthcare companies report on the same day, it can be a busy time for investors trying to sort the most important news 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)—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 Almost no one sees it coming, but AI is about to split America into two over the next 12 months. On one hand, it'll make America's one-percenters richer and more powerful than ever. On the other hand, it's set to trap millions of hardworking Americans in financial quicksand. Former Google exec Kai-Fu Lee says AI could wipe out 50% of jobs by 2027. Elon Musk has said AI will surpass human intelligence by 2027. Mark Zuckerberg has said half of all coding could be done by AI within the next year. One ex-hedge fund manager whose team predicted Nvidia's rise in 2020 calls this the AI End Game, and he says there are three critical moves every American should make in the next 12 months to protect and grow their wealth through this paradigm shift. See the three moves before the AI split happens U.K.-based pharma giant AstraZeneca closed out 2025 by reinforcing its position as a major oncology provider: cancer medicines accounted for roughly 44% of product sales in the fourth quarter. Sales of oncology 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. 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 per share higher than last year's. Investors also have a robust development pipeline to watch: management said 20 Phase 3 readouts are expected in 2026, and the company expects increases in both total revenue and core earnings per share (EPS) for the full year 2026. AZN shares rose nearly 3% in the hours after the company released its strong earnings report. Although 10 of 11 analysts rate AZN a Buy or equivalent, the consensus price target of $95.75 implies a potential decline of nearly 51%, leaving valuation questions for some on Wall Street. TAVR Momentum Fuels Edwards Sales Growth, Though Investors Should Be Mindful of Earnings and Margin Limitations Edwards Lifesciences makes replacement heart valves, related surgical devices and monitoring systems. The firm's Q4 2025 results were broadly positive, with sales up 13.3% YoY driven by strong transcatheter aortic valve replacement (TAVR) momentum and uptake of the latest SAPIEN valve. However, adjusted EPS missed analyst expectations, and gross profit margin declined about 0.8% YoY. Despite the mixed signals, Edwards reiterated its prior 2026 outlook calling for sales growth of 8%–10% YoY and EPS of $2.90–$3.05. EW shares jumped above $80 in after-hours trading, roughly 4% above the prior close. About two-thirds of analysts rate EW a Buy, and the average price target of $96.77 implies roughly 25% upside. Orthopedic Demand Remains High, But Zimmer Faces Some Headwinds Going Forward Zimmer Biomet, a maker of joint replacement systems and orthopedic implants, saw its share price rise more than 3% 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 its orthopedic products continues to support both top- and bottom-line growth. Zimmer is shifting focus toward U.S. sales, which represent about 60% of its business. Rising utilization among insured patients should sustain near-term demand for the company's products. That said, Zimmer expects tariffs and other headwinds could weigh on 2026 results, prompting relatively conservative guidance in the latest earnings report. Management outlined adjusted EPS guidance of $8.30–$8.45 and projected free cash flow improvement of 8%–10%. Analysts remain divided on Zimmer; the consensus rating is a Hold, though the average price target implies about 15% upside from current levels.
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