Zimmer Biomet Holdings Inc
F:ZIM
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Zimmer Biomet Holdings Inc
Zimmer Biomet makes medical devices used in orthopedic and musculoskeletal surgery. Its main products are joint replacement implants for hips, knees, and shoulders, along with bone fixation products, trauma devices, surgical tools, and certain robotics and software used in the operating room. It sells these products mainly to hospitals, surgeons, ambulatory surgery centers, and other healthcare providers that perform bone and joint procedures. The company makes money by selling implant systems, reusable surgical instruments, and related equipment and services. A large part of the business depends on procedures such as joint replacement and fracture repair, where surgeons need specialized hardware and the supporting tools that go with it. In some cases, Zimmer Biomet also earns recurring revenue from products and services tied to its surgical platforms and digital planning tools. What makes Zimmer Biomet different is that it sits close to the surgery itself: it is not just a parts maker, but a supplier of the implants, instruments, and workflow tools needed to perform orthopedic procedures. That gives it a strong role in the hospital supply chain and ties its business to long-term demand for joint and bone surgery as people age and as patients need repair or replacement of worn or damaged joints.
Zimmer Biomet makes medical devices used in orthopedic and musculoskeletal surgery. Its main products are joint replacement implants for hips, knees, and shoulders, along with bone fixation products, trauma devices, surgical tools, and certain robotics and software used in the operating room. It sells these products mainly to hospitals, surgeons, ambulatory surgery centers, and other healthcare providers that perform bone and joint procedures.
The company makes money by selling implant systems, reusable surgical instruments, and related equipment and services. A large part of the business depends on procedures such as joint replacement and fracture repair, where surgeons need specialized hardware and the supporting tools that go with it. In some cases, Zimmer Biomet also earns recurring revenue from products and services tied to its surgical platforms and digital planning tools.
What makes Zimmer Biomet different is that it sits close to the surgery itself: it is not just a parts maker, but a supplier of the implants, instruments, and workflow tools needed to perform orthopedic procedures. That gives it a strong role in the hospital supply chain and ties its business to long-term demand for joint and bone surgery as people age and as patients need repair or replacement of worn or damaged joints.
Strong quarter: Zimmer Biomet reported first-quarter sales of $2.087 billion, up 9.3% reported and 2.9% organically, and adjusted EPS of $2.09, up 15.5% year over year.
Guidance raised: Management lifted full-year adjusted EPS guidance to $8.40 to $8.55 and free cash flow growth to 9% to 11%, while leaving organic sales growth guidance at 1% to 3%.
Tariff boost: The quarter benefited from about $0.20 per share tied to tariff-related items, including the invalidation of IEEPA tariffs, which helped gross margin and EPS.
Sales transition: The U.S. move to a more dedicated sales force is still causing some disruption, but management said it is progressing as planned and is already improving productivity in transitioned territories.
Innovation momentum: New products and technology were a major growth driver, including ROSA, TMINI, OrthoGrid, ROSA Shoulder and the Monogram robotic platform, which remains on track for a 2027 launch.
Mix and margins: Gross margin was strong at 73%, but management still expects full-year gross margin to be around 71% and operating margin to be slightly lower than last year.
Leadership change: CFO Suketu Upadhyay is leaving Zimmer Biomet, and Controller Paul Stellato will serve as interim CFO while the company searches for a successor.
