After a Weak Third Quarter, Zimmer Biomet Should Regain Its Footing
Zimmer Biomet reported soft third-quarter results, but we’re leaving our fair value estimate unchanged because our adjustments were not enough to materially move our valuation. Quarterly organic revenue growth rose a mere 1.6% in constant currency year over year, as the firm ran into internal supply issues that kept it from fulfilling orders for high-profile products. We view this as an unforced error on the part of Zimmer that should be addressed over the next couple of quarters. On one hand, t...Zimmer Biomet Holdings is engaged in musculoskeletal healthcare. The company's products are: Knees, which includes knee replacement surgeries; Hips, which includes hip replacement surgeries; S.E.T., which includes surgical, sports medicine, biologics, foot and ankle, extremities and trauma products; Spine and Craniomaxillofacial and Thoracic, which designs, manufactures and distributes medical devices and surgical instruments, as well as provides face and skull reconstruction products; Dental, which manufactures and/or distributes dental reconstructive implants, dental prosthetic products and dental regenerative products; and Other, which includes bone cement and office based technology products.
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