Ever undergone reconstructive orthopedic surgery? Yes, then you may have been implanted with one of the personalized joint replacement technologies of Indiana-based, one of the leading orthopedic medical devices manufacturer–Zimmer Biomet Holdings, Inc. (NYSE:ZBH) , formerly known as Zimmer Holdings. In June 2015, legacy Zimmer completed the acquisition of Biomet for $14.0 billion. With operations in more than 25 countries, the company markets its orthopedic reconstructive, spinal and trauma devices, biologics, dental implants and related surgical products in more than 100 countries.
Currently, Zimmer Biomet has a Zacks Rank #3 (Hold) but that could change following its first quarter 2017 earnings report which has just released. (You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here). We have highlighted some of the key details from the just-released announcement below:
Earnings: The Zacks Consensus Estimate remained stands at $2.11 per share over the last 60 days. Zimmer Biomet’s adjusted earnings per share of $2.13 had surpassed this estimate by 1.4%.
Revenues: Zimmer Biomet posted revenues of $1.98 billion which has outpaced the Zacks Consensus Estimate for revenues of 1.96 billion.
Zimmer Biomet Holdings, Inc. Price and EPS Surprise
Zimmer Biomet Holdings, Inc. Price and EPS Surprise | Zimmer Biomet Holdings, Inc. Quote
Key Stats: First-quarter revenues derived from Zimmer’s Knees segment were down 0.2% year over year to $701.8 million, while Hips recorded sales of $475.7 million, up 1.7% compared with the prior-year quarter. Revenues from S.E.T (Surgical, Sports Medicine, Foot and Ankle, Extremities and Trauma) improved 6.0% year over year to $425.1 million.
Major Factors: Zimmer Biomet’s first quarter revenue and adjusted earnings growth is consistent and met the company’s expectation. Per management, the company made improvements towards improving the global supply chain, in concert with ongoing, focused investments to complement and optimize the global manufacturing and quality systems. The company is focused in driving the priorities as it progresses further, although leveraging specialized sales channels and advancing the commercialization of differentiated clinical offerings. Also, management updated its full-year 2017 constant currency revenue and adjusted earnings per share guidance.
Stock Price: Following the earnings release, share prices did not show any movement in the pre-market trading session.
Check back later for our full write up on this Zimmer Biomet earnings report later!
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Zimmer Biomet Holdings, Inc. (ZBH): Free Stock Analysis Report
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