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 second quarter 2018 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: Zimmer Biomet reported second-quarter 2018 adjusted earnings per share of $1.92, beating the Zacks Consensus Estimate of $1.88.
Revenues: Zimmer Biomet posted revenues of $2.01 billion which has surpassed the Zacks Consensus Estimate for revenues of $1.99 billion.
Zimmer Biomet Holdings, Inc. Price and EPS Surprise
Key Stats: Second-quarter revenues derived from Zimmer Biomet’s Knees segment were increased 3.4% year over year to $703 million, while Hips recorded sales of $487 million, up 4% compared with the prior-year quarter. Revenues from S.E.T (Surgical, Sports Medicine, Foot and Ankle, Extremities and Trauma) improved 3% year over year to $434 million.
Major Factors: The year-over-year revenue growth in the Knee, Hip and S.E.T. segments buoy optimism. The company witnessed strong performance in the Asia Pacific region at constant exchange rate. Zimmer Biomet also updated its full-year 2018 sales and earnings 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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