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Zimmer Biomet (ZBH): Q3 Earnings in Line, Revenue Missed
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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. (ZBH - Free Report) , 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 #4 (Sell) but that could change following its third quarter 2016 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 $1.79 per share over the last 60 days. Zimmer Biomet’s adjusted earnings per share of $1.79 is in line with this estimate.
Revenues: Zimmer Biomet posted revenues of $1.83 billion, missing the Zacks Consensus Estimate for revenues of $1.841 billion by a small magnitude.
Key Stats: Revenues derived from Zimmer’s Knees segment were down 0.1 year over year to $631.3 million, while Hips recorded sales of $440.6 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 8.5% to $402.1 million.
Major Factors: Zimmer Biomet posted better-than-expected third quarter results driven by growth in the company’s S.E.T. category as well as its ongoing strength in the Asia Pacific region. Management estimates full-year revenue to be in a range of $7.630 billion to $7.650 billion. However it has narrowed down the lower end of its adjusted EPS guidance by 5 cents.
Stock Price: Following the earnings release, Zimmer Biomet has dropped 2.8% in the pre-market trading session. However, the price movement during the full trading session will show whether the results have affected the market.
Check back later for our full write up on this Zimmer Biomet earnings report later!
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Zimmer Biomet (ZBH): Q3 Earnings in Line, Revenue Missed
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. (ZBH - Free Report) , 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 #4 (Sell) but that could change following its third quarter 2016 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 $1.79 per share over the last 60 days. Zimmer Biomet’s adjusted earnings per share of $1.79 is in line with this estimate.
ZIMMER BIOMET Price and EPS Surprise
ZIMMER BIOMET Price and EPS Surprise | ZIMMER BIOMET Quote
Revenues: Zimmer Biomet posted revenues of $1.83 billion, missing the Zacks Consensus Estimate for revenues of $1.841 billion by a small magnitude.
Key Stats: Revenues derived from Zimmer’s Knees segment were down 0.1 year over year to $631.3 million, while Hips recorded sales of $440.6 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 8.5% to $402.1 million.
Major Factors: Zimmer Biomet posted better-than-expected third quarter results driven by growth in the company’s S.E.T. category as well as its ongoing strength in the Asia Pacific region. Management estimates full-year revenue to be in a range of $7.630 billion to $7.650 billion. However it has narrowed down the lower end of its adjusted EPS guidance by 5 cents.
Stock Price: Following the earnings release, Zimmer Biomet has dropped 2.8% in the pre-market trading session. However, the price movement during the full trading session will show whether the results have affected the market.
Check back later for our full write up on this Zimmer Biomet earnings report later!
Confidential from Zacks
Beyond this Tale of the Tape, would you like to see Zacks' best recommendations that are not available to the public? Our Executive VP, Steve Reitmeister, knows when key trades are about to be triggered and which of our experts has the hottest hand. Click to see them now>>