Zimmer Biomet Holdings Inc (ZBH)

[realfast95]

Wells Fargo maintains underweight lowers target to $111
Deutsche Bank maintains hold, lowers target to $121

[realfast95]

$ZBH Needham analyst Mike Matson maintains Zimmer Biomet Holdings with a Buy and lowers the price target from $155 to $143

$ZBH SVB Leerink analyst Danielle Antalffy maintains Zimmer Biomet Holdings with a Outperform and lowers the price target from $150 to $135

$ZBH Canaccord Genuity analyst Kyle Rose downgrades Zimmer Biomet Holdings from Buy to Hold and lowers the price target from $165 to $125

$ZBH Piper Sandler from $135.00 to $110.00

2/7 Monday's close 111.67

It's unclear with just headline analyst target's if it includes ZimVie or without ZimVie

to repeat
Zimmer Biomet shareholders of record as of the close of business on February 15, 2022 (the "Record Date"). The dividend is payable at 12:01 a.m. ET on March 1, 2022 (the "Distribution Date"). As a result of the dividend, Zimmer Biomet shareholders will receive one share of ZimVie common stock for every ten shares of Zimmer Biomet common stock they hold on the Record Date.

[DewDiligence]

This is ZBH’s biggest biz-dev transaction since the merger of Zimmer and Biomet in 2015.

[DewDiligence]

ZIMV 2022 non-GAAP EPS guidance=$2.10-2.30:

https://finance.yahoo.com/news/zimvie-hosts-inaugural-investor-day-141500225.html

[DewDiligence]

ZBH -7% because of soft 2022 guidance announced with 4Q21 results:

https://finance.yahoo.com/news/zimmer-biomet-announces-fourth-quarter-113000363.html

The Company is providing the following full-year 2022 financial guidance for RemainCo Zimmer Biomet – this guidance does not include any projected financial results from the businesses that are part of the planned spinoff of ZimVie from the Company. For comparison purposes only, unaudited 2021 net sales for RemainCo Zimmer Biomet are estimated to be $6.827 billion, based on total Company net sales of $7.836 billion less the Dental & Spine product category net sales of $1.009 billion.

Projected Year Ending December 31, 2022

 2022 Reported Revenue Change     (4.0)-0.0% 
 Foreign Currency Exchange Impact (2.0)% 
 Adjusted Operating Profit Margin  26.5-27.5% 
 Adjusted Tax Rate                 16.0-16.5% 
 Adjusted Diluted EPS             $6.40-6.80

The word, “adjusted” in the above table means non-GAAP.

[DewDiligence]

ZBH PR/slides re ZimVie (ZIMV) spinoff:

https://www.prnewswire.com/news-releases/zimmer-biomet-announces-expected-completion-date-of-march-1-2022-for-spinoff-of-zimvie-301476209.html

https://78449.choruscall.com/dataconf/productusers/zbh/media/2022/zbh220207_1100_presentation.pdf

Zimmer Biomet Holdings, Inc. today announced that its Board of Directors has declared a pro rata dividend of 80.3% of the outstanding common stock of ZimVie Inc. to Zimmer Biomet shareholders of record as of the close of business on February 15, 2022 (the "Record Date"). The dividend is payable at 12:01 a.m. ET on March 1, 2022 (the "Distribution Date"). As a result of the dividend, Zimmer Biomet shareholders will receive one share of ZimVie common stock for every ten shares of Zimmer Biomet common stock they hold on the Record Date.

Immediately following the dividend, Zimmer Biomet will retain 19.7% of the outstanding shares of ZimVie common stock, which Zimmer Biomet intends to divest after the separation in a tax-efficient manner.

…ZimVie will focus on the dental and spine markets and their respective growth drivers such as implants, surgical tools, bone graft substitutes, spinal fusion implants, non-fusion alternatives, and digital care management solutions.

The spinoff, which is tax-free for ZBH shareholders, was announced one year ago (#msg-161529784). The impetus for the spinoff is that ZBH wants to offload its slow-growth business segments.

[boston745]

Zimmer Biomet Holdings Inc (ZBH) Q3 2021 Earnings Call Transcript

https://www.fool.com/earnings/call-transcripts/2021/11/04/zimmer-biomet-holdings-inc-zbh-q3-2021-earnings-ca/

[boston745]

Zimmer Biomet Holdings Inc (ZBH) Q2 2021 Earnings Call Transcript

https://www.fool.com/earnings/call-transcripts/2021/08/03/zimmer-biomet-holdings-inc-zbh-q2-2021-earnings-ca/

Someones gotta post this.

[DewDiligence]

ZBH 2Q21 sales_flat–to-slightly-down_vs_2Q19—(way up vs pandemic 2Q20):

https://finance.yahoo.com/news/zimmer-biomet-announces-second-quarter-103000408.html

Updated 2021 full-year non-GAAP EPS guidance is $7.65-7.95 (narrowed from $7.60-8.00).

[boston745]

Zimmer Biomet Holdings Inc (ZBH) Q1 2021 Earnings Call Transcript

https://www.fool.com/earnings/call-transcripts/2021/05/04/zimmer-biomet-holdings-inc-zbh-q1-2021-earnings-ca/

[DewDiligence]

ZBH issues_2021_guidance—>12.5-15.5%_YoY_revenue_growth_in_constant_currency:

https://investor.zimmerbiomet.com/~/media/Files/Z/ZimmerBiomet-IR/press-release/q1-2021-earnings-release.pdf

“Our performance was stronger than we anticipated in the first quarter, as we saw signs of the pandemic beginning to subside across many regions toward the end of the quarter driven by acceleration of vaccine rollout. As we move into the second quarter, we expect that momentum to continue and believe we are well-positioned to meet the needs of our customers as elective procedures return," said Bryan Hanson, President and CEO of Zimmer Biomet.

[boston745]

Zimmer Biomet Holdings Inc (ZBH) Q4 2020 Earnings Call Transcript

https://www.fool.com/earnings/call-transcripts/2021/02/05/zimmer-biomet-holdings-inc-zbh-q4-2020-earnings-ca/

[DewDiligence]

The stock is +5% in PM trading. Investors are suckers for spin-offs.

[DewDiligence]

ZBH slide set:

https://investor.zimmerbiomet.com/~/media/Files/Z/ZimmerBiomet-IR/reports-and-presentations/ir-deck-final.pdf

[DewDiligence]

ZBH to spin-off dental/spine businesses—(two losers):

https://finance.yahoo.com/news/zimmer-biomet-announces-intent-spin-113100667.html

The spin-off company has yet to be named. Deal closing is targeted for mid-2022. The deal is tax-free for ZBH shareholders.

[DewDiligence]

ZBH 4Q20 results—no 2021 guidance due to COVID:

https://investor.zimmerbiomet.com/news-and-events/news/2021/02-05-2021-113032509

[boston745]

Zimmer Biomet Holdings, Inc. (ZBH) CEO Bryan Hanson on Q3 2020 Results - Earnings Call Transcript


https://www.google.com/amp/s/seekingalpha.com/amp/article/4386109-zimmer-biomet-holdings-inc-zbh-ceo-bryan-hanson-on-q3-2020-results-earnings-call-transcript

[DewDiligence]

ZBH_3Q20_results—no_4Q20_guidance_due_to_COVID:

https://finance.yahoo.com/m/62919b99-2139-3ee7-a0dd-02f484b7d7ec/3-reasons-pfizer-s-imminent.html

[boston745]

Zimmer Biomet Holdings, Inc. (ZBH) CEO Bryan Hanson on Q2 2020 Results - Earnings Call Transcript


https://seekingalpha.com/article/4364273-zimmer-biomet-holdings-inc-zbh-ceo-bryan-hanson-on-q2-2020-results-earnings-call-transcript

[DewDiligence]

ZBH 2Q20 results:

https://investor.zimmerbiomet.com/~/media/Files/Z/ZimmerBiomet-IR/press-release/q2-2020-earnings-release.PDF

[DewDiligence]

ZBH 1Q20 CC transcript:

https://finance.yahoo.com/news/edited-transcript-zbh-earnings-conference-014928667.html

[DewDiligence]

ZBH—(-4%)—declines to reinstate 2020 guidance (which was withdrawn on 4/6/20):

https://investor.zimmerbiomet.com/~/media/Files/Z/ZimmerBiomet-IR/press-release/q1-2020-earnings-release.pdf

First quarter performance was negatively impacted by COVID-19, which reached a pandemic level in March and resulted in a significant and sudden global decline in elective procedure volumes.

…Zimmer Biomet expects the decline in elective procedure volumes observed in the final weeks of the first quarter to continue to have a significant negative impact in the second quarter of 2020. Given the uncertainty around the scope and duration of COVID-19 and its ongoing impact on the deferral of elective procedures, the Company is currently unable to quantify the expected impact on its results of operations, financial condition and cash flows, which could be material, for 2020 and is therefore not providing full-year financial guidance.

[DewDiligence]

ZBH quantifies the damage—in part:

https://www.prnewswire.com/news-releases/zimmer-biomet-provides-update-on-covid-19-impact-301036176.html

In March 2020, COVID-19 reached a pandemic level and Zimmer Biomet was impacted by a significant and sudden global decline in elective procedure volumes. As a result, based on preliminary, unaudited financial results, Zimmer Biomet estimates revenue growth for the first quarter 2020 will be approximately -9.5 to -10.5 percent on a reported basis and -8.5 to -9.5 percent on a constant currency basis when compared to the first quarter of 2019.

The Company is currently conducting its closing process for the first quarter of 2020 and is unable to provide a more precise estimate of its full financial results [i.e. no EPS guidance]. Final results for the first quarter are scheduled to be announced on May 11, 2020.

In other words, the hit to 1Q20 EPS was so bad ZBH doesn’t even want to talk about it until the 1Q20 earnings release on 5/11/20.

2Q20 will clearly be even worse than 1Q20 insofar as only 1/3 of 1Q20 was severely affected by the pandemic.

Unsurprisingly, ZBH is withdrawing prior guidance for full-year 2020 results.

[DewDiligence]

ZBH 4Q19 CC transcript:

https://finance.yahoo.com/news/edited-transcript-zbh-earnings-conference-200109220.html

[whytestocks]

$ZBH bears and bulls Zimmer Biomet Holdings Inc Nyse Zbh Short Squeeze

[DewDiligence]

ZBH 3Q19 CC transcript:

https://finance.yahoo.com/news/edited-transcript-zbh-earnings-conference-230128346.html

[boston745]

Edited Transcript of ZBH earnings conference call or presentation 26-Jul-19 12:30pm GMT



https://finance.yahoo.com/news/edited-transcript-zbh-earnings-conference-122100216.html

[whytestocks]

News: $ZBH Zimmer Biomet Announces Second Quarter 2019 Financial Results

WARSAW, Ind. , July 26, 2019 /PRNewswire/ -- Zimmer Biomet Holdings, Inc. (NYSE and SIX: ZBH) today reported financial results for the quarter ended June 30, 2019.  The Company reported second quarter net sales of $1.989 billion , a decrease of 0.9% from the prior year per...

Got this from Zimmer Biomet Announces Second Quarter 2019 Financial Results

[boston745]

Zimmer Biomet Holdings (ZBH) Q1 2019 Earnings Call Transcript

https://finance.yahoo.com/news/zimmer-biomet-holdings-zbh-q1-232013416.html

[DewDiligence]

ZBH 1Q19 results:

https://finance.yahoo.com/news/zimmer-biomet-announces-first-quarter-100000853.html

[boston745]

Syed Jafry bought just under 2k shares at 125.52 on 3/1 open market. He and Hilado, who also recently bought on open market, were added to Zimmer's board back in August.

https://www.sec.gov/Archives/edgar/data/1136869/000091191619000068/xslF345X03/edgar.xml

[DewDiligence]

The amounts are not huge, but you don't often see so many insiders buying at the same time.

[DewDiligence]

Six ZBH insiders cumulatively bought~$2M of stock on the open market…

CEO ($240K):
https://www.sec.gov/Archives/edgar/data/1136869/000091191619000026/xslF345X03/edgar.xml

Director ($500K):
https://www.sec.gov/Archives/edgar/data/1136869/000091191619000020/xslF345X03/edgar.xml

Director ($240K):
https://www.sec.gov/Archives/edgar/data/1136869/000091191619000018/xslF345X03/edgar.xml

Director ($300K):
https://www.sec.gov/Archives/edgar/data/1136869/000091191619000022/xslF345X03/edgar.xml

Director ($250K):
https://www.sec.gov/Archives/edgar/data/1136869/000091191619000024/xslF345X03/edgar.xml

Director ($200K):
https://www.sec.gov/Archives/edgar/data/1136869/000091191619000024/xslF345X03/edgar.xml

[DewDiligence]

ZBH 4Q18 CC transcript:

https://finance.yahoo.com/news/zimmer-biomet-holdings-inc-zbh-211209567.html

[DewDiligence]

ZBH 4Q18 results:

https://finance.yahoo.com/news/zimmer-biomet-announces-fourth-quarter-110000768.html

[whytestocks]

News: $ZBH Zimmer Biomet Receives FDA Clearance for ROSA® Knee System for Robotically-Assisted Surgeries

WARSAW, Ind. , Jan. 25, 2019 /PRNewswire/ -- Zimmer Biomet Holdings, Inc. (NYSE and SIX: ZBH), a global leader in musculoskeletal healthcare, today announced U.S. Food and Drug Administration 510(k) clearance of the ROSA ® Knee System for robotically-assisted total knee replacement ...

Find out more https://marketwirenews.com/news-releases/zimmer-biomet-receives-fda-clearance-for-rosa-xae-knee-system-for-robotically-assisted-surgeries-7555322.html

[boston745]

Zimmer Biomet Holdings Inc (ZBH) Q3 2018 Earnings Conference Call Transcript


https://www.yahoo.com/amphtml/finance/news/zimmer-biomet-holdings-inc-zbh-171926622.html

[boston745]

Zimmer Biomet Holdings, Inc. (ZBH) Q2 2018 Earnings Conference Call Transcript

https://www.yahoo.com/amphtml/finance/news/zimmer-biomet-holdings-inc-zbh-142000184.html

[boston745]

Zimmer Biomet Q4'17 Edited Conference Call

https://finance.yahoo.com/news/edited-transcript-zbh-earnings-conference-063938591.html

Zimmer Biomet Q1'18 Edited Conference Call
https://finance.yahoo.com/news/edited-transcript-zbh-earnings-conference-123747254.html

[DewDiligence]

ZBH 4Q17 results:

https://finance.yahoo.com/news/zimmer-biomet-announces-fourth-quarter-120000345.html

[DewDiligence]

ZBH 3Q17 CC transcript:

https://finance.yahoo.com/news/edited-transcript-zbh-earnings-conference-175043906.html

[DewDiligence]

ZBH 2Q17 CC (edited) transcript:

https://finance.yahoo.com/news/edited-transcript-zbh-earnings-conference-215043004.html

[DewDiligence]

Barron's Roundtable participant likes ZBH: #msg-128046924.

[ValueInvestor15]

Citigroup upgraded ZBH: Analysis

[scstocks]

New symbol here should be ZBH since last weeks merge.

[stocktrademan]

$ZMH DD Notes ~ http://www.ddnotesmaker.com/ZMH

bullish

$ZMH recent news/filings

## source: finance.yahoo.com

Fri, 26 Dec 2014 18:20:57 GMT ~ Midday Glance: Medical Devices companies


read full: http://sg.finance.yahoo.com/news/midday-glance-medical-devices-companies-183358924.html
*********************************************************

Fri, 26 Dec 2014 15:23:18 GMT ~ Early Glance: Medical Devices companies


read full: http://sg.finance.yahoo.com/news/early-glance-medical-devices-companies-142638361--finance.html
*********************************************************

Wed, 24 Dec 2014 23:02:19 GMT ~ Final Glance: Medical Devices companies


read full: http://sg.finance.yahoo.com/news/final-glance-medical-devices-companies-230331175.html
*********************************************************

Fri, 19 Dec 2014 20:57:45 GMT ~ U.S. appeals court cuts damages Zimmer must pay Stryker

[Reuters] - A U.S. federal appeals court has slashed the damages that Zimmer Holdings Inc will have to pay Stryker Corp for infringing its patents on a surgical cleaning wand. The top U.S. patent court said on Friday ...

read full: http://finance.yahoo.com/news/u-appeals-court-cuts-damages-205745578.html
*********************************************************

Mon, 15 Dec 2014 14:21:44 GMT ~ Dec 15, 2014 Zimmer Holdings, Inc. Announces Quarterly Dividend for Fourth Quarter of 2014

[at noodls] - WARSAW, Ind., Dec. 15, 2014 /PRNewswire/ -- Zimmer Holdings, Inc. (NYSE and SIX: ZMH), a global leader in musculoskeletal care, today announced that its Board of Directors has approved the payment of a ...

read full: http://www.noodls.com/view/598F866D114707ECD0FADB017DF4ADF1E5B88B9E
*********************************************************


$ZMH charts

basic chart ## source: stockcharts.com



basic chart ## source: stockscores.com



big daily chart ## source: stockcharts.com



big weekly chart ## source: stockcharts.com


$ZMH company information

## source: otcmarkets.com

Link: http://www.otcmarkets.com/stock/ZMH/company-info
Ticker: $ZMH
OTC Market Place: Not Available
CIK code: 0001136869
Company name: Zimmer Holdings, Inc.
Incorporated In: DE, USA


$ZMH share structure

## source: otcmarkets.com

Market Value: $19,335,126,885 a/o Dec 26, 2014
Shares Outstanding: 169,353,831 a/o Oct 29, 2014
Float: Not Available
Authorized Shares: Not Available
Par Value: 0.01
$ZMH extra dd links

Company name: Zimmer Holdings, Inc.
## STOCK DETAILS ##
After Hours Quote (nasdaq.com): http://www.nasdaq.com/symbol/ZMH/after-hours
Option Chain (nasdaq.com): http://www.nasdaq.com/symbol/ZMH/option-chain
Historical Prices (yahoo.com): http://finance.yahoo.com/q/hp?s=ZMH+Historical+Prices
Company Profile (yahoo.com): http://finance.yahoo.com/q/pr?s=ZMH+Profile
Industry (yahoo.com): http://finance.yahoo.com/q/in?s=ZMH+Industry

## COMPANY NEWS ##
Market Stream (nasdaq.com): http://www.nasdaq.com/symbol/ZMH/stream
Latest news (otcmarkets.com): http://www.otcmarkets.com/stock/ZMH/news - http://finance.yahoo.com/q/h?s=ZMH+Headlines

## STOCK ANALYSIS ##
Analyst Research (nasdaq.com): http://www.nasdaq.com/symbol/ZMH/analyst-research
Guru Analysis (nasdaq.com): http://www.nasdaq.com/symbol/ZMH/guru-analysis
Stock Report (nasdaq.com): http://www.nasdaq.com/symbol/ZMH/stock-report
Competitors (nasdaq.com): http://www.nasdaq.com/symbol/ZMH/competitors
Stock Consultant (nasdaq.com): http://www.nasdaq.com/symbol/ZMH/stock-consultant
Stock Comparison (nasdaq.com): http://www.nasdaq.com/symbol/ZMH/stock-comparison
Investopedia (investopedia.com): http://www.investopedia.com/markets/stocks/ZMH/?wa=0
Research Reports (otcmarkets.com): http://www.otcmarkets.com/stock/ZMH/research
Basic Tech. Analysis (yahoo.com): http://finance.yahoo.com/q/ta?s=ZMH+Basic+Tech.+Analysis
Barchart (barchart.com): http://www.barchart.com/quotes/stocks/ZMH
DTCC (dtcc.com): http://search2.dtcc.com/?q=Zimmer+Holdings%2C+Inc.&x=10&y=8&sp_p=all&sp_f=ISO-8859-1
Spoke company information (spoke.com): http://www.spoke.com/search?utf8=%E2%9C%93&q=Zimmer+Holdings%2C+Inc.
Corporation WIKI (corporationwiki.com): http://www.corporationwiki.com/search/results?term=Zimmer+Holdings%2C+Inc.&x=0&y=0

## FUNDAMENTALS ##
Call Transcripts (nasdaq.com): http://www.nasdaq.com/symbol/ZMH/call-transcripts
Annual Report (companyspotlight.com): http://www.companyspotlight.com/library/companies/keyword/ZMH
Income Statement (nasdaq.com): http://www.nasdaq.com/symbol/ZMH/financials?query=income-statement
Revenue/EPS (nasdaq.com): http://www.nasdaq.com/symbol/ZMH/revenue-eps
SEC Filings (nasdaq.com): http://www.nasdaq.com/symbol/ZMH/sec-filings
Edgar filings (sec.gov): http://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001136869&owner=exclude&count=40
Latest filings (otcmarkets.com): http://www.otcmarkets.com/stock/ZMH/filings
Latest financials (otcmarkets.com): http://www.otcmarkets.com/stock/ZMH/financials
Short Interest (nasdaq.com): http://www.nasdaq.com/symbol/ZMH/short-interest
Dividend History (nasdaq.com): http://www.nasdaq.com/symbol/ZMH/dividend-history
RegSho (regsho.com): http://www.regsho.com/tools/symbol_stats.php?sym=ZMH&search=search
OTC Short Report (otcshortreport.com): http://otcshortreport.com/index.php?index=ZMH
Short Sales (otcmarkets.com): http://www.otcmarkets.com/stock/ZMH/short-sales
Key Statistics (yahoo.com): http://finance.yahoo.com/q/ks?s=ZMH+Key+Statistics
Insider Roster (yahoo.com): http://finance.yahoo.com/q/ir?s=ZMH+Insider+Roster
Income Statement (yahoo.com): http://finance.yahoo.com/q/is?s=ZMH
Balance Sheet (yahoo.com): http://finance.yahoo.com/q/bs?s=ZMH
Cash Flow (yahoo.com): http://finance.yahoo.com/q/cf?s=ZMH+Cash+Flow&annual

## HOLDINGS ##
Major holdings (cnbc.com): http://data.cnbc.com/quotes/ZMH/tab/8.1
Insider transactions (yahoo.com): http://finance.yahoo.com/q/it?s=ZMH+Insider+Transactions
Insider transactions (secform4.com): http://www.secform4.com/insider-trading/ZMH.htm
Insider transactions (insidercrow.com): http://www.insidercow.com/history/company.jsp?company=ZMH
Ownership Summary (nasdaq.com): http://www.nasdaq.com/symbol/ZMH/ownership-summary
Institutional Holdings (nasdaq.com): http://www.nasdaq.com/symbol/ZMH/institutional-holdings
Insiders (SEC Form 4) (nasdaq.com): http://www.nasdaq.com/symbol/ZMH/insider-trades
Insider Disclosure (otcmarkets.com): http://www.otcmarkets.com/stock/ZMH/insider-transactions

## SOCIAL MEDIA AND OTHER VARIOUS SOURCES ##
PST (pennystocktweets.com): http://www.pennystocktweets.com/stocks/profile/ZMH
Market Watch (marketwatch.com): http://www.marketwatch.com/investing/stock/ZMH
Bloomberg (bloomberg.com): http://www.bloomberg.com/quote/ZMH:US
Morningstar (morningstar.com): http://quotes.morningstar.com/stock/s?t=ZMH
Bussinessweek (businessweek.com): http://investing.businessweek.com/research/stocks/snapshot/snapshot_article.asp?ticker=ZMH



$ZMH DD Notes ~ http://www.ddnotesmaker.com/ZMH

[investora2z]

The performance in the last quarter was nothing special with slight decline in revenues and minor improvement in net income. Over the years also, the revenues and net income have not shown any substantial growth. Consequently, the growth in the stock has also been moderate and it has appreciated by less than 20% on a 52 week basis. It has corrected by 7% from its recent high of around $82. The dividends have not been consistent, and the yield is also around 1% only. Valuations remain reasonably attractive with a trailing P/E of around 17 and a forward P/E of around 12. The debt has shown some declines in last quarter. As on March 31, the debt was around $1.7 billion and cash was around $1.2 billion which indicates reasonably good liquidity position (current ratio of around 4.5). The key to success is good growth with expansion of margins. For this, the company has to bring out innovative products from time to time and also explore new markets. This is the key to success in pharmaceutical / medical devices companies, and even smaller companies like PLC Systems (PLCSF) have been building patents around their innovative proprietary technologies to improve future growth possibilities. Currently Zimmer's main market is US & Europe (82% of the revenues) while Asia Pacific contributes the rest. However, over the years emerging markets may grow faster and expand to increase their contribution to the sales. Many companies are concentrating on specific countries in the emerging markets for bolstering growth. As per a recent SA article, the medical device industry is expected to grow by 6.1% CAGR over the next few years ($302 billion in 2017). If Zimmer can take advantage of that, then it can shake of the sluggishness and improve future growth prospects. Innovative products will remain the key.