Zimmer Biomet Holdings Inc Stock Research

Market Summary

USD125.18-0.21

Market Closed

-0.17%

ZBH Alerts

Big fall in earnings (Y/Y)
Losses in recent quarter

ZBH Stock Price

ZBH RSI Chart

ZBH Valuation

Market Cap

26.3B

Price/Earnings (Trailing)

113.5

Price/Sales (Trailing)

3.78

EV/EBITDA

26.74

Price/Free Cashflow

22.48

ZBH Price/Sales (Trailing)

ZBH Profitability

EBT Margin

5.81%

Return on Equity

1.93%

Return on Assets

1.1%

Free Cashflow Yield

4.45%

ZBH Fundamentals

ZBH Revenue

Revenue (TTM)

6.9B

Revenue Y/Y

2.7%

Revenue Q/Q

9.3%

ZBH Earnings

Earnings (TTM)

231.4M

Earnings Y/Y

-55.36%

Earnings Q/Q

-167.27%

Price Action

52 Week Range

100.39134.75

(Low)(High)

Last 7 days

-0.2%

Last 30 days

1.0%

Last 90 days

-1.2%

Trailing 12 Months

4.1%

ZBH Financial Health

Current Ratio

1.88

Debt/Equity

0.44

Debt/Cashflow

0.26

ZBH Investor Care

Dividend Yield

0.77%

Dividend/Share (TTM)

0.96

Shares Dilution (1Y)

0.48%

Diluted EPS (TTM)

1.1

Peers (Alternatives to Zimmer Biomet Holdings)

View All Peers In Detail

Name	Mkt Capsorted ascending	Revenue	Price %, 1M	Returns, 1Y	P/E	P/S	Rev 1-Yr	Inc 1-Yr
LARGE-CAP
MDT	104.6B	30.8B	-8.05%	-24.94%	25.73	3.4	-3.19%	-17.38%
SYK	104.4B	18.4B	5.66%	8.69%	44.29	5.66	7.84%	18.25%
ISRG	85.7B	6.2B	4.83%	-11.02%	64.81	13.77	8.97%	-22.43%
BDX	67.1B	19.0B	-1.08%	-7.00%	41.67	3.53	-0.43%	-8.78%
EW	48.6B	5.4B	5.76%	-25.47%	31.94	9.03	2.86%	1.25%
MID-CAP
SWAV	7.2T	489.7M	12.31%	16.47%	82.2K	16.8K	106.51%	2464.23%
PEN	10.6B	847.1M	7.52%	34.43%	-5.3K	12.49	13.32%	-137.89%
GMED	5.2B	1.0B	-10.91%	-22.50%	30.47	5.13	6.76%	24.45%
IRTC	3.6B	410.9M	10.60%	-14.17%	-31.18	8.81	27.29%	-14.60%
TNDM	2.7B	801.2M	8.08%	-61.27%	-28.75	3.39	14.00%	-707.69%
SMALL-CAP
SILK	1.5B	138.6M	-22.14%	5.45%	-28.06	11.13	36.62%	-10.44%
AVNS	1.3B	820.0M	-2.41%	-12.43%	26.08	1.61	10.13%	701.59%
BLFS	942.5M	154.8M	4.20%	-0.45%	-9.06	6.09	60.29%	-2309.58%
CSII	828.8M	239.8M	0.30%	-2.08%	-21.89	3.46	-4.74%	-31.15%

Financials for Zimmer Biomet Holdings

* denotes actual numbers (not divided by Millions)
Income Statement (Last 12 Months)					(In Millions)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Revenue	0.7%	6,940	6,892	6,908	6,889	6,827
S&GA Expenses	-2.8%	2,762	2,840	2,869	2,871	2,843
EBITDA	0.9%	1,165	1,155	1,050	1,167	-
EBITDA Margin	0.2%	0.17*	0.17*	0.15*	0.15*	-
Earnings Before Taxes	2.3%	404	394	408	386	499
EBT Margin	1.6%	0.06*	0.06*	0.04*	0.04*	-
Interest Expenses	3.6%	-164	-171	-181	-197	-208
Net Income	-16.7%	231	278	230	218	402
Net Income Margin	-17.3%	0.03*	0.04*	0.03*	0.03*	-
Free Cahsflow	-8.4%	1,168	1,276	1,294	1,416	-

* denotes actual numbers (not divided by Millions)
Balance Sheet					(In Millions)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Assets	-1.3%	21,066	21,333	21,453	21,618	23,456
Current Assets	-2.4%	4,427	4,534	4,463	4,517	4,885
Cash Equivalents	-31.1%	376	545	386	436	378
Inventory	0.9%	2,147	2,129	2,123	2,132	2,148
Net PPE	3.9%	1,873	1,802	1,797	1,826	1,837
Goodwill	-2.5%	8,580	8,799	8,869	8,896	8,919
Liabilities	-0.5%	9,039	9,082	9,328	9,596	10,790
Current Liabilities	2.7%	2,358	2,296	2,464	2,674	3,468
Long Term Debt	-5.3%	5,263	5,560	5,995	7,216	-
LT Debt, Current	-17.4%	544	659	852	1,015	1,605
LT Debt, Non Current	1.9%	5,152	5,055	5,172	5,286	5,464
Shareholder's Equity	-1.8%	12,020	12,245	12,125	12,021	12,661
Retained Earnings	-1.9%	9,559	9,740	9,607	9,503	10,292
Additional Paid-In Capital	0.4%	9,504	9,464	9,419	9,386	9,315
Accumulated Depreciation	0.1%	4,543	4,540	4,442	4,301	-
Shares Outstanding	0.1%	210	210	209	-	-
Minority Interest	4.7%	7.00	6.00	6.00	6.00	6.00

Cashflow (Last 12 Months)					(In Millions)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Cashflow From Operations	-6.4%	1,356	1,450	1,423	1,497	1,404
Share Based Compensation	12.8%	105	93.00	84.00	79.00	76.00
Cashflow From Investing	2.2%	-522	-533	-560	-416	-443
Cashflow From Financing	30.6%	-775	-1,118	-1,350	-1,232	-1,306
Dividend Payments	0.1%	201	201	201	201	200
Buy Backs	-	126	-	-	-	-

Risks for ZBH

What is the probability of a big loss on ZBH?

72.3%

Probability that Zimmer Biomet Holdings stock will be more than 20% underwater in next one year

34.6%

Probability that Zimmer Biomet Holdings stock will be more than 30% underwater in next one year.

18.5%

Probability that Zimmer Biomet Holdings stock will be more than 40% underwater in next one year.

*Calculated based on probability distribution of losses observed in actual data in the last 5 years.

How does ZBH drawdown profile look like?

Y-axis is the maximum loss one would have experienced if Zimmer Biomet Holdings was unfortunately bought at previous high price.

Drawdowns

Returns for ZBH

Cumulative Returns on ZBH

6.7%

10-Year Cumulative Returns

3.8%

7-Year Cumulative Returns

4.3%

5-Year Cumulative Returns

17.4%

3-Year Cumulative Returns

What are the long-term rolling returns for ZBH?

FIve years rolling returns for Zimmer Biomet Holdings.

Annualized Returns

Which funds bought or sold ZBH recently?

View All Details

Datesorted ascending	Fund Name	Type	% Chg	$ Change	$ Held	% Portfolio
2023-03-15	B. Riley Wealth Advisors, Inc.	added	1.29	86,573	452,573	0.01%
2023-03-10	VICTORY CAPITAL MANAGEMENT INC	added	657	158,479,000	177,730,000	0.19%
2023-03-08	Capital Asset Advisory Services LLC	reduced	-5.93	50,190	392,190	0.03%
2023-03-06	NORTH STAR ASSET MANAGEMENT INC	reduced	-4.8	61,297	442,297	0.03%
2023-03-06	Rockefeller Capital Management L.P.	reduced	-31.63	-229,000	1,146,000	0.01%
2023-03-03	TIAA, FSB	added	10.48	352,585	1,368,580	-%
2023-03-02	LORING WOLCOTT & COOLIDGE FIDUCIARY ADVISORS LLP/MA	new	-	50,873	50,873	-%
2023-03-01	WHITENER CAPITAL MANAGEMENT, INC.	new	-	247,988	247,988	0.11%
2023-03-01	Lakewood Asset Management LLC	new	-	355,000	355,000	0.29%
2023-03-01	Meixler Investment Management, Ltd.	reduced	-1.45	67,980	406,980	0.41%

Latest Funds Activity

Are funds buying ZBH calls or puts?

Calls

Puts

Are funds bullish or bearish(Calls - Puts)?

Net Call Options

No. of funds that own ZBH

No. of Funds

Zimmer Biomet Holdings News

Schedule 13G FIlings of Zimmer Biomet Holdings

Date Filed	Name of Filer	Percent of Class	No. of Shares	Form Type
Feb 14, 2023	price t rowe associates inc /md/	5.3%	11,200,109	SC 13G
Feb 09, 2023	vanguard group inc	11.46%	24,055,739	SC 13G/A
Jan 30, 2023	blackrock inc.	10.4%	21,803,709	SC 13G/A
Jan 24, 2023	blackrock inc.	10.4%	21,803,709	SC 13G/A
Apr 08, 2022	vanguard group inc	11.04%	23,102,761	SC 13G/A
Jan 28, 2022	jpmorgan chase & co	5.4%	11,340,168	SC 13G
Jan 28, 2022	blackrock inc.	10.4%	21,793,439	SC 13G/A
Apr 12, 2021	blackrock inc.	10.0%	20,926,542	SC 13G/A
Feb 11, 2021	massachusetts financial services co /ma/	4.8%	10,001,947	SC 13G/A
Feb 10, 2021	vanguard group inc	7.58%	15,703,785	SC 13G/A

ZBH Fair Value

Zimmer Biomet Holdings fair value in different scenarios

The table shows the Fair Value estimates for Zimmer Biomet Holdings for various scenarios. Disclaimer: These are just estimations from a model. None of the models are good at predicting the future. Please dont buy or sell stocks based on these outputs.

Fair Value	Very Pessimistic	Pessimistic	Base Case	Optimistic	Very Optimistic
Very Low Inflation	- -	- -	- -	- -	- -
Current Inflation	31.70 -74.68%	35.85 -71.36%	41.30 -67.01%	54.91 -56.14%	64.23 -48.69%
Very High Inflation	- -	- -	- -	- -	- -

Historical Zimmer Biomet Holdings Fair Value Estimates

Very Pessimistic Case

Pessimistic Case

Fair Value

Optimistic Case

Very Optimistic Case

Closing Stock Price

Recent SEC filings of Zimmer Biomet Holdings

View All Filings

Date Filed	Form Type	Document
Mar 21, 2023	4	Insider Trading
Mar 17, 2023	144	Notice of Insider Sale Intent
Mar 08, 2023	4	Insider Trading
Mar 08, 2023	4	Insider Trading
Mar 08, 2023	4	Insider Trading
Mar 08, 2023	4	Insider Trading
Mar 08, 2023	4	Insider Trading
Mar 08, 2023	4	Insider Trading
Mar 08, 2023	4	Insider Trading
Mar 08, 2023	4	Insider Trading

Latest Insider Trading transactions for ZBH

Filter Transactions

Datesorted ascending	Name	Buy/Sell	$ Value	Avg. Price	# Shares	Title
2023-03-17	Phipps Chad F	sold	-2,869,110	124	-23,045	sr. vp/gen counsel/secretary
2023-03-17	Phipps Chad F	acquired	1,635,500	70.97	23,045	sr. vp/gen counsel/secretary
2023-03-02	Winkler Lori	sold (taxes)	-6,839	122	-56.00	svp and chro
2023-03-02	Winkler Lori	acquired	-	-	187	svp and chro
2023-02-21	Tornos Ivan	sold (taxes)	-203,060	124	-1,628	chief operating officer
2023-02-21	Hanson Bryan C	acquired	-	-	15,132	president and ceo
2023-02-21	Hanson Bryan C	sold (taxes)	-592,717	124	-4,752	president and ceo
2023-02-21	Upadhyay Suketu	acquired	-	-	3,860	exec. vp, cfo
2023-02-21	Ellingson Rachel	acquired	-	-	1,046	svp & chief strategy officer
2023-02-21	Yi Sang	acquired	-	-	2,423	president, asia pacific

About Zimmer Biomet Holdings

Bryan C. Hanson

www.zimmerbiomet.com

19500

Zimmer Biomet Holdings, Inc., together with its subsidiaries, operates in the musculoskeletal healthcare business in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company designs, manufactures, and markets orthopaedic reconstructive products, such as knee and hip products; S.E.T. products, including sports medicine, biologics, foot and ankle, extremities, and trauma products; spine products comprising medical devices and surgical instruments; and face and skull reconstruction products, as well as products that fixate and stabilize the bones of the chest toss facilitate healing or reconstruction after open heart surgery, trauma, or for deformities of the chest. It also offers dental products that include dental reconstructive implants, and dental prosthetic and regenerative products, as well as robotic, surgical and bone cement products. The company's products and solutions are used to treat patients suffering from disorders of, or injuries to, bones, joints, or supporting soft tissues. It serves orthopedic surgeons, neurosurgeons, oral surgeons, dentists, hospitals, stocking distributors, healthcare dealers, and other specialists, as well as agents, healthcare purchasing organizations, or buying groups. The company was formerly known as Zimmer Holdings, Inc. and changed its name to Zimmer Biomet Holdings, Inc. in June 2015. Zimmer Biomet Holdings, Inc. was founded in 1927 and is headquartered in Warsaw, Indiana.

ZBH Income Statement

2022-12-31

Consolidated Statements of Earnings - USD ($) shares in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Income Statement [Abstract]
Net Sales	$ 6,939.9	$ 6,827.3	$ 6,127.5
Type of Revenue [Extensible List]	us-gaap:ProductMember	us-gaap:ProductMember	us-gaap:ProductMember
Cost of products sold, excluding intangible asset amortization	$ 2,019.5	$ 1,960.4	$ 1,824.3
Type of Cost, Good or Service [Extensible List]	us-gaap:ProductMember	us-gaap:ProductMember	us-gaap:ProductMember
Intangible asset amortization	$ 526.8	$ 529.5	$ 512.1
Research and development	406.0	435.8	322.8
Selling, general and administrative	2,761.7	2,843.4	2,712.7
Goodwill and intangible asset impairment	292.8	16.3	503.0
Restructuring and other cost reduction initiatives	191.6	125.7	107.2
Quality remediation	33.8	52.8	50.9
Acquisition, integration, divestiture and related	11.4	3.1	11.4
Operating expenses	6,243.6	5,967.0	6,044.4
Operating Profit	696.3	860.3	83.1
Other (expense) income, net	(128.0)	12.2	23.8
Interest expense, net	(164.8)	(208.4)	(212.1)
Loss on early extinguishment of debt		(165.1)
Earnings (Loss) before income taxes	403.5	499.0	(105.2)
Provision (benefit) for income taxes from continuing operations	112.3	53.5	(96.0)
Net Earnings (Loss) from Continuing Operations	291.2	445.5	(9.2)
Less: Net earnings attributable to noncontrolling interest	1.0	0.5	1.5
Net Earnings (Loss) from Continuing Operations of Zimmer Biomet Holdings, Inc.	290.2	445.0	(10.7)
Loss from Discontinued Operations, Net of Tax	(58.8)	(43.4)	(128.2)
Net Earnings (Loss) of Zimmer Biomet Holdings, Inc.	$ 231.4	$ 401.6	$ (138.9)
Basic Earnings (Loss) Per Common Share
Earnings (Loss) from Continuing Operations	$ 1.38	$ 2.14	$ (0.05)
Loss from Discontinued Operations	(0.28)	(0.21)	(0.62)
Basic Earnings (Loss) Per Common Share	1.10	1.93	(0.67)
Diluted Earnings (Loss) Per Common Share
Earnings (Loss) from Continuing Operations	1.38	2.12	(0.05)
Loss from Discontinued Operations	(0.28)	(0.21)	(0.62)
Diluted Earnings (Loss) Per Common Share	$ 1.10	$ 1.91	$ (0.67)
Weighted Average Common Shares Outstanding
Basic	209.6	208.6	207.0
Diluted	210.3	210.4	207.0

ZBH Balance Sheet

2022-12-31

Consolidated Balance Sheets - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Current Assets:
Cash and cash equivalents	$ 375.7	$ 378.1
Accounts receivable, less allowance for credit losses	1,381.5	1,259.6
Inventories	2,147.2	2,148.0
Prepaid taxes	198.4	326.7
Prepaid expenses and other current assets	324.5	271.0
Current assets of discontinued operations		501.6
Total Current Assets	4,427.3	4,885.0
Property, plant and equipment, net	1,872.5	1,836.6
Goodwill	8,580.2	8,919.4
Intangible assets, net	5,063.8	5,533.6
Other assets	1,122.2	1,005.0
Noncurrent assets of discontinued operations		1,276.8
Total Assets	21,066.0	23,456.4
Current Liabilities:
Accounts payable	354.1	306.5
Income taxes payable	38.5	62.0
Other current liabilities	1,421.3	1,317.1
Current portion of long-term debt	544.3	1,605.1
Current liabilities of discontinued operations		177.2
Total Current Liabilities	2,358.2	3,467.9
Deferred income taxes, net	474.8	558.5
Long-term income tax payable	421.2	583.0
Other long-term liabilities	632.6	548.5
Long-term debt	5,152.2	5,463.7
Noncurrent liabilities of discontinued operations		168.4
Total Liabilities	9,039.0	10,790.0
Commitments and Contingencies (Note 21)
Stockholders' Equity:
Common stock, $0.01 par value, one billion shares authorized,313.8 million (312.8 million in 2021) issued	3.1	3.1
Paid-in capital	9,504.4	9,314.8
Retained earnings	9,559.3	10,292.2
Accumulated other comprehensive loss	(179.3)	(231.6)
Treasury stock, 104.8 million shares (103.8 million shares in 2021)	(6,867.2)	(6,717.8)
Total Zimmer Biomet Holdings, Inc. stockholders' equity	12,020.3	12,660.7
Noncontrolling interest	6.7	5.7
Total Stockholders' Equity	12,027.0	12,666.4
Total Liabilities and Stockholders' Equity	$ 21,066.0	$ 23,456.4