Warsaw, Ind.-based Zimmer Biomet Holdings Inc. yet again beat expectations as its ongoing turnaround continues. Specifically, the company saw first-quarter net sales of $1.976 billion. As a result of the effect of foreign currency exchange negatively affected sales by 2.8%, resulting in a reported net sales decrease of 2.1% from the prior-year period. The revenue figure came in above Wells Fargo's estimate by $17 million and consensus by $11 million, Larry Biegelsen wrote.

A new study by the Georgetown Lombardi Comprehensive Cancer Center and the National Cancer Institute indicates that Oncotype DX-guided treatment could cut the cost of first year breast cancer care in the U.S. by $50 million. JNCI published the results of the study on Wednesday. Genomic Health Inc. of Redwood City, Calif., produces Oncotype DX.