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Zimmer Biomet Holdings Inc - Stock Quote ZBH

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Morningstar's Zimmer Biomet Holdings Inc Stock Analysis

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We See Signs of Improvement in Zimmer Biomet's First Quarter; No Change to Our Fair Value Estimate

Debbie S. Wang Senior Equity Analyst

Analyst Note

| Debbie S. Wang |

Zimmer Biomet delivered first-quarter results that slightly exceeded our expectations on the top line, but this was offset by a slight lag compared with our estimates for the bottom line. As a result, we’re leaving our fair value estimate unchanged. While foreign exchange and inflationary headwinds tugged at Zimmer Biomet in the quarter, the firm’s 7% revenue growth year over year was solid. As with other medical device makers, Zimmer Biomet’s business was also buffeted by the rise and fall of the omicron variant in early 2022. However, we see little to suggest that underlying demand has changed, or that Zimmer Biomet’s wide economic moat has been hurt. We were reassured by management’s comments that procedure cancellation rates by the end of the first quarter were commensurate with prepandemic levels.

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Zimmer Biomet Holdings Inc's Company Profile

Business Description

Zimmer Biomet designs, manufactures, and markets orthopedic reconstructive implants, as well as supplies and surgical equipment for orthopedic surgery. With the acquisitions of Centerpulse in 2003 and Biomet in 2015, Zimmer holds the leading share of the reconstructive market in the United States, Europe, and Japan. Roughly 70% of total revenue is derived from sales of large joints, another quarter comes from extremities, trauma, and related surgical products.

345 East Main Street
Warsaw, IN, 46580
T +1 574 267-6131
Sector Healthcare
Industry Medical Devices
Most Recent Earnings Mar 31, 2022
Fiscal Year End Dec 31, 2022
Stock Type Slow Growth
Employees 19,500

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