Seeking Alpha
 

Zimmer Holdings, Inc. (ZMH)

- NYSE
  • Mon, Mar. 30, 9:19 AM
    • The European Commission (EC) conditionally approves Zimmer Holdings' (NYSE:ZMH) acquisition of Biomet. The EC's clearance is conditional on Zimmer selling certain assets comprising the remedy package previously submitted to the EC which includes the divestment of its Unicondylar Knee implant and Biomet's Discovery Elbow business in the European Economic Area (EEA) and Biomet's Vanguard Total Knee system in Denmark and Sweden.
    • Zimmer expects to close the transaction next month. The approval of the U.S. Federal Trade Commission is pending.
    | Comment!
  • Tue, Mar. 17, 5:54 PM
    • In a regulatory filing, Biomet (NYSE:ZMH) discloses that the U.S. Department of Justice (DOJ) informed the company on March 13 that it was extending the Deferred Prosecution Agreement (DPA) and the independent compliance monitor's appointment for an additional year.
    • The DPA was originally signed in 2012 for a three-year term in response to possible violations of the Foreign Corrupt Practices Act (RICO). Pursuant to the DPA, the DOJ agreed to defer prosecution of Biomet in connection with the matters provided Biomet satisfied its obligations under the agreement. An independent compliance monitor was appointed to review the company's adherence to the DPA, particularly as it related to its international sales practices.
    • In October 2013 the company became aware of certain alleged improprieties pertaining to its operations in Mexico and Brazil, including some that predated the DPA. Based upon the results of its internal investigation, Biomet terminated, suspended or disciplined the employees and executives involved. The company discussed the matters with the DOJ and Securities and Exchange Commission (SEC) in April 2014. On July 2, 2014 the SEC issued a subpoena to Biomet requiring it to produce certain relevant documents. The DOJ investigation is ongoing.
    • If the DOJ determines that Biomet's activities in Brazil and Mexico breached the DPA, then it could bring further actions against the firm. The company continues to cooperate fully with authorities.
    | Comment!
  • Wed, Mar. 11, 9:35 AM
    • Zimmer Holdings (ZMH +0.7%) will sell $7.65B aggregate principal amount of senior notes to assist in the funding of its $13.4B cash-and-stock takeout of Biomet. The tranches will yield 1.45 - 4.45% and mature from 2017 to 2045.
    • Previously: Zimmer to acquire Biomet for $13.35B (April 24, 2014)
    | Comment!
  • Tue, Feb. 24, 8:17 AM
    • Zimmer Holdings (NYSE:ZMH) declares $0.22/share quarterly dividend, in line with previous.
    • Forward yield 0.73%
    • Payable April 24; for shareholders of record March 6; ex-div March 4.
    | Comment!
  • Tue, Feb. 10, 8:18 AM
    • Zimmer Holdings (NYSE:ZMH) follows up with a revised remedy package to the one it originally submitted to the European Commission (EC) in December to address the EC's comments based on its market test of the original plan. The company says that it is pleased and encouraged with the progress to date regarding the regulatory process required to approve its acquisition of Biomet.
    • Although, the formal deadline for the EC's decision has been reset to May 26 of this year, Zimmer continues to expect the transaction to close this quarter.
    • Previously: Zimmer proposes remedy package to European regulators (Dec. 4, 2014)
    • Previously: Zimmer to acquire Biomet for $13.35B (April 24, 2014)
    | Comment!
  • Thu, Jan. 29, 8:23 AM
    • Zimmer Holdings (NYSE:ZMH) Q4 results ($M): Total Revenues: 1,222.9 (-1.4%); Americas: 677.9 (-2.1%); Europe: 337.2 (-1.6%); Asia Pacific: 207.8 (+0.9%); Reconstructive: 910.6 (-1.9%); Dental: 66.8 (+5.9%); Trauma: 80.4 (-0.7%); Spine: 55.7 (+6.3%); Surgical & Other: 109.4 (-5.6%).
    • Reconstructive: Knees: 518.6 (-0.9%); Hips: 338.1 (-4.2%); Extremities: 53.9 (+3.9%).
    • COGS: 312.9 (-8.2%); R&D Expense: 46.6 (+0.4%); SG&A Expense: 458.9 (-3.8%); Net Income: 156.5 (-33.5%); EPS: .91 (-33.1%); CF Ops: 354.2 (+18.0%); Quick Assets: 1,695.8 (-6.2%).
    • Gross Profit: 910.0 (+1.1%); COGS: 25.6% (-6.9%); Gross Margin: 74.4% (+2.6%); Operating Earnings: 404.5 (+7.4%); Operating Earnings Yield: 33.1% (+9.0%); Net Earnings Yield: 12.8% (-32.5%).
    • Q1 Guidance: Revenue Growth: 1.5 - 2.5%; Non-GAAP EPS: $1.58 - 1.60; GAAP EPS: $1.12 - 1.14.
    | Comment!
  • Thu, Jan. 29, 7:14 AM
    • Zimmer Holdings (NYSE:ZMH): Q4 EPS of $1.71 in-line.
    • Revenue of $1.22B (-1.6% Y/Y) misses by $20M.
    • Press Release
    | Comment!
  • Fri, Jan. 16, 12:18 PM
    • Zimmer Holdings (ZMH +1%) will report Q4 and full-year results on January 29 before the open. The conference call will begin at 8:00 am ET.
    • Consensus views for revenue for Q4 and 2014 are $1.25B and $4.70B, respectively.
    | Comment!
  • Dec. 15, 2014, 9:10 AM
    • Zimmer Holdings (NYSE:ZMH) declares $0.22/share quarterly dividend, in line with previous.
    • Forward yield 0.79%
    • Payable Jan. 30; for shareholders of record Dec. 29; ex-div Dec. 24.
    | Comment!
  • Dec. 4, 2014, 10:37 AM
    • In an effort to facilitate its approval of its planned acquisition of Biomet, Zimmer Holdings (ZMH -0.1%) proposes a remedy package to the European Commission (EC). It includes the divestiture of one unicompartmental knee brand and one elbow brand in the European Economic Area (EEA) and one total knee brand in two EEA countries.
    • The EC will market test the remedy package in the coming days. Meanwhile, it has "stopped the clock" on its review of the merger. Zimmer expects the transaction to close in Q1 2015.
    • Previously: EC extends review period for Zimmer/Biomet deal (Nov. 18, 2014)
    • Previously: Zimmer to acquire Biomet for $13.35B (April 24, 2014)
    | Comment!
  • Nov. 18, 2014, 12:22 PM
    | Comment!
  • Oct. 23, 2014, 8:05 AM
    • Zimmer Holdings (NYSE:ZMH) Q3 results ($M): Revenues: 1,106.0 (+3.0%); Gross Profit: 807.7 (+8.3%); R&D Expense: 46.1 (-6.7%); SG&A Expense: 443.5 (+9.9%); Operating Income: 251.2 (+18.7%); Net Income: 165.5 (+7.2%); EPS: 0.96 (+6.7%); Quick Assets: 1,747.1 (-3.3%); CF Ops: 255.7.
    • Revenue By Geographic Segment: Americas: 637.9 (+0.8%); Europe: 270.7 (+6.2%); Asia Pacific: 197.4 (+5.9%).
    • Revenue By Product Category: Reconstructive: 823.8 (+4.5%), Knees: 461.4 (+6.2%), Hips: 315.6 (+2.4%); Extremities: 46.8 (+2.9%); Dental: 53.9 (-2.2%); Trauma: 77.8 (-0.9%); Spine: 51.0 (+6.3%); Surgical & Other: 99.5 (-4.7%).
    • 2014 Guidance: Revenue growth: ~2.25% from 2.0 - 3.0%; EPS: ~$4.65 from $4.65 - 4.75; non-GAAP EPS: ~$6.05 from $6.00 - 6.10.
    | Comment!
  • Oct. 23, 2014, 7:33 AM
    • Zimmer Holdings (NYSE:ZMH): Q3 EPS of $1.35 beats by $0.05.
    • Revenue of $1.11B (+3.7% Y/Y) beats by $10M.
    • Press Release
    | Comment!
  • Oct. 19, 2014, 6:37 PM
    • Zimmer Holdings (NYSE:ZMH) will report Q3 results on October 23 before the open. The conference call will begin at 8:00 am ET.
    • Consensus view is EPS of $1.30 on revenues of $1.1B.
    | Comment!
  • Oct. 7, 2014, 11:57 AM
    • BC, Canada-based Xenon Pharmaceuticals (XENE) is set for its IPO of 4M shares at $10 -12.
    • The clinical-stage biopharmaceutical firm discovers and develops differentiated therapeutics for orphan indications based on its Extreme Genetics platform. It focuses its discovery efforts on rare human diseases with extreme traits, including diseases caused by mutations in ion channels.
    • The Extreme Genetics platform yielded the first gene therapy product approved in the EU, uniQure's (QURE +1.5%Glybera (alipogene tiparvovec) for the treatment of adult patients with familial lipoprotein lipase deficiency.
    • Its pharma partners include (TEVA -0.3%), Genentech (OTCQX:RHHBY -2.5%) and Merck (MRK -1.2%). Collaborations have generated over $140M in revenue to Xenon so far. Future milestone payments could potentially surpass $1B.
    • The company's lead product is TV-45070 for the treatment of osteoarthritis of the knee. A 300-patient Phase 2b clinical trail run by Teva subsidiary Ivax International GmbH is underway.
    • A second product candidate, GDC-0276, for the treatment of pain is being developed in collaboration with Genentech. A Phase 1 study commenced in September 2014.
    • S-1
    • Osteoarthritis of the knee-related tickers: (AMPE +0.3%)(FLXN -4.6%)(ANIK -1.2%)(ZMH -0.7%)
    | 2 Comments
  • Sep. 1, 2014, 10:59 AM
    • Zimmer Holdings (NYSE:ZMH) will hear back from EU antitrust authorities by Oct. 3 over whether or how it will be allowed to pursue its $13.4B takeover of rival Biomet (Pending:BMET).
    • Zimmer originally sought approval in June, but the EU regulator paused the review because the company's submission was lacking details.
    | Comment!
Visit Seeking Alpha's
ZMH vs. ETF Alternatives
Company Description
Zimmer Holdings Inc designs, develops, manufactures and markets orthopaedic reconstructive, spinal and trauma devices, biologics, dental implants and related surgical products. It also provides other healthcare related services.