Zimmer Biomet Holdings, Inc.
101.14-1.98 (-1.92%)
Oct 28, 4:00:02 PM EDT · NYSE · ZBH · USD
Key Stats
Market Cap
20.43BP/E (TTM)
25.10Basic EPS (TTM)
4.03Dividend Yield
0.01%Recent Filings
8-K
Swiss franc bond issuance
Zimmer Biomet issued CHF 210 million in 0.930% senior unsecured bonds maturing September 4, 2030, and CHF 390 million in 1.560% bonds maturing September 4, 2035, on September 4, 2025, via a Swiss franc-denominated offering. Interest pays annually starting 2026, with call options after three months pre-maturity and upon 85% redemption. This bolsters liquidity amid low rates. Holders can demand repurchase on change of control.
8-K
Q2 Sales Beat Expectations
Zimmer Biomet reported Q2 2025 net sales of $2.077 billion, up 7.0% reported, 5.4% constant currency, and 2.8% organic, driven by robust U.S. hips and knees acceleration and strong global S.E.T. growth. Adjusted diluted EPS rose 3.0% to $2.07, while GAAP EPS dipped to $0.77 amid acquisition costs. The company tightened full-year revenue guidance to 6.7%-7.7% reported and boosted adjusted EPS outlook to $8.10-$8.30. Integration risks from the Paragon 28 acquisition loom large.
10-Q
Q2 FY2025 results
Zimmer Biomet's Q2 net sales climbed 7.0% y/y to $2,077.3M, fueled by the Paragon 28 acquisition and gains in S.E.T. (up 17.3% y/y), while knees and hips grew 3.1% and 5.8% y/y, respectively; yet operating profit dipped 14.6% y/y to $300.0M amid acquisition costs and inflation-driven manufacturing hikes, squeezing margins to 14.4% from 18.1%. Diluted EPS fell to $0.77 from $1.18, aligning with 198.3M shares, though YTD EPS of $1.68 tracks 199.0M shares without anti-dilution flags. Cash from operations hit $761.0M YTD, funding the $1,226.3M Paragon 28 close in April 2025 for $1,241.5M cash plus $36.8M contingent, recognizing $643.1M goodwill and $441.5M finite-lived intangibles (5-15 years). Debt stands at $7,572.5M with $2.45B revolver availability under 4.5:1 covenants; free cash flow not disclosed in the 10-Q. Acquisitions bolster extremities, but IRS tax disputes loom large.
8-K
ZBH acquires Monogram robotics
Zimmer Biomet signed a merger agreement on July 11, 2025, to acquire Monogram Technologies for $4.04 per share in cash, valuing the deal at $168 million enterprise value, plus up to $12.37 per share in contingent value rights tied to milestones through 2030. This bolsters Zimmer Biomet's robotics portfolio with Monogram's FDA-cleared semi-autonomous mBôs knee system, launching early 2027, and a fully autonomous version by late 2027, aiming to expand U.S. market penetration and revenue growth from 2027. The deal stays EPS neutral through 2027 but turns accretive after, funded by cash and debt. Regulatory approvals pose key hurdles.
8-K
New Credit Facilities Established
Zimmer Biomet Holdings, Inc. has entered into new revolving credit agreements: a $1.5 billion five-year facility and a $1.0 billion 364-day facility, both dated June 27, 2025, with JPMorgan Chase Bank, N.A. as administrative agent. These replace prior agreements from June 28, 2024. The facilities support general corporate purposes with commitments from multiple lenders. Key terms include interest rates based on SOFR plus margins tied to credit ratings, a leverage ratio covenant up to 4.50:1 (or 5.00:1 post-qualified acquisition), and standard covenants.
IPO
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