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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 #3 (Hold) but that could change following its fourth 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 $2.11 per share over the last 60 days. Zimmer Biomet’s adjusted earnings per share of $2.14 has beaten this estimate by 1.4%.
Full-year 2016 adjusted earnings came in at $7.96 per share which has also surpassed the Zacks Consensus Estimate of $7.94 by 0.3%.
Zimmer Biomet Holdings, Inc. Price and EPS Surprise
Revenues: Zimmer Biomet posted revenues of $2.01 billion, which is in line with the Zacks Consensus Estimate for revenues.
Full-year 2016 revenues came in at $7.68 billion which is also almost in line with the Zacks Consensus Estimate of $7.65 billion.
Key Stats: Fourth-quarter revenues derived from Zimmer’s Knees segment were up 0.5% year over year to $444million, while Hips recorded sales of $254 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 6.6% to $430 million.
Major Factors: Zimmer Biomet posted better-than-expected fourth quarter results driven by reacceleration of its Knee and Hip businesses as well as its ongoing strength its S.E.T. category and Asia Pacific region. Management also issued guidance for full-year 2017. The company expects constant currency revenue for full-year 2017, as compared to 2016 revenue, to increase between 3.7% and 4.7%, inclusive of approximately 120 basis points of contribution from the LDR transaction. However, Zimmer Biomet expects foreign currency translation to decrease revenues by approximately 1.5%. Therefore, for full-year 2017 revenue is expected to increase between 2.2%-3.2% or to be in a range of $7.855 billion-$7.930 billion and adjusted EPS in the range of $8.50-$8.68.
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): Tops Q4 Earnings Estimates, Meets Sales
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 #3 (Hold) but that could change following its fourth 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 $2.11 per share over the last 60 days. Zimmer Biomet’s adjusted earnings per share of $2.14 has beaten this estimate by 1.4%.
Full-year 2016 adjusted earnings came in at $7.96 per share which has also surpassed the Zacks Consensus Estimate of $7.94 by 0.3%.
Zimmer Biomet Holdings, Inc. Price and EPS Surprise
Zimmer Biomet Holdings, Inc. Price and EPS Surprise | Zimmer Biomet Holdings, Inc. Quote
Revenues: Zimmer Biomet posted revenues of $2.01 billion, which is in line with the Zacks Consensus Estimate for revenues.
Full-year 2016 revenues came in at $7.68 billion which is also almost in line with the Zacks Consensus Estimate of $7.65 billion.
Key Stats: Fourth-quarter revenues derived from Zimmer’s Knees segment were up 0.5% year over year to $444million, while Hips recorded sales of $254 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 6.6% to $430 million.
Major Factors: Zimmer Biomet posted better-than-expected fourth quarter results driven by reacceleration of its Knee and Hip businesses as well as its ongoing strength its S.E.T. category and Asia Pacific region. Management also issued guidance for full-year 2017. The company expects constant currency revenue for full-year 2017, as compared to 2016 revenue, to increase between 3.7% and 4.7%, inclusive of approximately 120 basis points of contribution from the LDR transaction. However, Zimmer Biomet expects foreign currency translation to decrease revenues by approximately 1.5%. Therefore, for full-year 2017 revenue is expected to increase between 2.2%-3.2% or to be in a range of $7.855 billion-$7.930 billion and adjusted EPS in the range of $8.50-$8.68.
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!
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 >>