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Stock impact report

Zimmer Biomet beats Q1 profit estimates on robust demand for knee, hip devices [Reuters]

Zimmer Biomet Holdings, Inc. (ZBH) 
Last zimmer biomet holdings, inc. earnings: 2/4 06:00 am Check Earnings Report
US:NYSE Investor Relations: investor.zimmerbiomet.com
Company Research Source: Reuters
May 2 (Reuters) - Medtech firm Zimmer Biomet Holdings beat Wall Street estimates for first-quarter profit on Thursday, on the back of robust demand for its devices that are used in knee and hip reconstruction procedures. Zimmer's results a strong quarter for medical device makers, including peer Stryker Corp which raised its annual profit outlook betting on steady demand for its hip and knee implants. Investors have increased expectations for medical device makers following a post-pandemic surge in demand for medical procedures, especially among older Americans. "This is a good start to the year that should help give investors confidence management can ultimately deliver what they've guided to," J.P.Morgan analyst Robbie Marcus wrote in a note. Combined sales at Zimmer's hips and knees units were $1.28 billion, in line with analysts' expectations. The hip and knee implant maker reiterated its annual profit outlook in the range of $8.00 to $8.15 per share. Analysts were ex Show less Read more
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