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Zimmer Biomet Holdings, Inc. (ZBH - Free Report) , a leading player in the musculoskeletal healthcare space, recently announced the global launch of its Subchondroplasty (SCP) Procedure. The company has received CE mark for the commercialization of SCP Procedure along with the approval for distribution in Canada, Singapore, Malaysia and Hong Kong.
SCP is a minimally invasive outpatient technique to treat chronic bone marrow lesions (BMLs). These BMLs are associated with stress fractures or micro-fractures of the bone adjacent to the joint. These defects may lead to cartilage degeneration, limited function, pain and raise the risk for joint deterioration if not treated properly.
Notably, Zimmer Biomet has outshined the Zacks categorized Medical - Products industry over the last one month in terms of price performance. The bullish trend has been maintained by the company’s recently released fourth-quarter results. The stock gained 9.5% compared to the broader industry’s gain of 3.9% over the same time frame.
In fact, the company’s strategic investments in the international market over the past several quarters to improve operational and sales performance are yielding results. We expect the SCP launch to boost traction for the company in the international market.
The SCP procedure is performed with AccuFillBone Substitute Material, a porous injectable calcium phosphate. The bone substitute is then slowly replaced with healthy bone. The procedure is usually carried out along with arthroscopy for visualization and treatment of defects in the joint.
Management claims that the new procedure, which was previously used only in defects of the knee bone, has been successfully performed in other areas including bones of the foot, ankle and hip. Zimmer Biomet now owns 36 patents and eight trademarks in this area, with numerous others still waiting for approval. Meanwhile, the company believes that the international release of SCP is a major milestone for BML patients.
As per a Global Industry Analysts report, the global market for Bone Graft Substitutes is estimated to reach $3.2 billion by 2022. More importantly, the percentage of population above the age of 65 in the U.S., Europe, Japan and other regions is expected to nearly double by 2030. In our view, Zimmer Biomet is positioned to benefit from the aging demography factor since bone and joints tend to wear out with age. Management has also launched PrimaGen Advanced Allograft – a bone graft substitute to repair injuries – in the fourth quarter.
Zacks Rank & Key Picks
Zimmer Biomet currently has a Zacks Rank #3 (Hold). Better-ranked medical stocks are Glaukos Corporation (GKOS - Free Report) , Cardiovascular Systems and Neogen Corp. (NEOG - Free Report) . Glaukos sports a Zacks Rank #1 (Strong Buy) while Cardiovascular Systems and Neogen carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Glaukos gained over 100% in the last one year in comparison to the S&P 500’s gain of 23.9%. The company has a stellar four-quarter average earnings surprise of over 100%.
Cardiovascular Systems surged over 100% in the last one year in comparison to the S&P 500. It has a four-quarter average earnings surprise of 67.8%.
Neogen gained 32.3% in the past one year, better than the S&P 500 mark. The stock has an impressive long-term earnings growth rate of 16.7% for the next five years compared to the industry average of 15.2%.
Zacks' Top 10 Stocks for 2017
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Zimmer Biomet (ZBH) Launches Subchondroplasty Procedure
Zimmer Biomet Holdings, Inc. (ZBH - Free Report) , a leading player in the musculoskeletal healthcare space, recently announced the global launch of its Subchondroplasty (SCP) Procedure. The company has received CE mark for the commercialization of SCP Procedure along with the approval for distribution in Canada, Singapore, Malaysia and Hong Kong.
SCP is a minimally invasive outpatient technique to treat chronic bone marrow lesions (BMLs). These BMLs are associated with stress fractures or micro-fractures of the bone adjacent to the joint. These defects may lead to cartilage degeneration, limited function, pain and raise the risk for joint deterioration if not treated properly.
Notably, Zimmer Biomet has outshined the Zacks categorized Medical - Products industry over the last one month in terms of price performance. The bullish trend has been maintained by the company’s recently released fourth-quarter results. The stock gained 9.5% compared to the broader industry’s gain of 3.9% over the same time frame.
The SCP procedure is performed with AccuFillBone Substitute Material, a porous injectable calcium phosphate. The bone substitute is then slowly replaced with healthy bone. The procedure is usually carried out along with arthroscopy for visualization and treatment of defects in the joint.
Zimmer Biomet Holdings, Inc. Price
Zimmer Biomet Holdings, Inc. Price | Zimmer Biomet Holdings, Inc. Quote
Management claims that the new procedure, which was previously used only in defects of the knee bone, has been successfully performed in other areas including bones of the foot, ankle and hip. Zimmer Biomet now owns 36 patents and eight trademarks in this area, with numerous others still waiting for approval. Meanwhile, the company believes that the international release of SCP is a major milestone for BML patients.
As per a Global Industry Analysts report, the global market for Bone Graft Substitutes is estimated to reach $3.2 billion by 2022. More importantly, the percentage of population above the age of 65 in the U.S., Europe, Japan and other regions is expected to nearly double by 2030. In our view, Zimmer Biomet is positioned to benefit from the aging demography factor since bone and joints tend to wear out with age. Management has also launched PrimaGen Advanced Allograft – a bone graft substitute to repair injuries – in the fourth quarter.
Zacks Rank & Key Picks
Zimmer Biomet currently has a Zacks Rank #3 (Hold). Better-ranked medical stocks are Glaukos Corporation (GKOS - Free Report) , Cardiovascular Systems and Neogen Corp. (NEOG - Free Report) . Glaukos sports a Zacks Rank #1 (Strong Buy) while Cardiovascular Systems and Neogen carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Glaukos gained over 100% in the last one year in comparison to the S&P 500’s gain of 23.9%. The company has a stellar four-quarter average earnings surprise of over 100%.
Cardiovascular Systems surged over 100% in the last one year in comparison to the S&P 500. It has a four-quarter average earnings surprise of 67.8%.
Neogen gained 32.3% in the past one year, better than the S&P 500 mark. The stock has an impressive long-term earnings growth rate of 16.7% for the next five years compared to the industry average of 15.2%.
Zacks' Top 10 Stocks for 2017
In addition to the stocks discussed above, would you like to know about our 10 finest tickers for the entirety of 2017?
Who wouldn't? These 10 are painstakingly hand-picked from 4,400 companies covered by the Zacks Rank. They are our primary picks to buy and hold. Be among the very first to see them >>