Zimmer Biomet stock could turn around in the new year as outside factors favor the medical device specialist, despite a quiet ride in 2022.
Medical device specialist Zimmer Biomet Holdings (ZBH:NYE) has a relatively mundane performance compared to other stocks in the healthcare space, but its increasing relevance in the market for its key medical robotics platform could make for a compelling long-term opportunity.
The company’s claim to fame is the ROSA Robotics, a multi-application platform that enables the medical device specialist to foster optimized outcomes. Among the most compelling innovations undergirding Zimmer Biomet stock is the ROSA Knee System, a data-producing surgical assistant.
The demographic trends of baby boomers reaching retirement age align well with the company’s offerings, making Zimmer Biomet stock relevant.
Furthermore, the medical robotics system market is expanding at a compound annual growth rate of 17.4% from 2022 to 2030, and rising instances of knee problems are forecasted to drive demand for treatment options.
Zimmer Biomet stock has a Moderate Buy consensus rating based on six Buys, nine Holds, and one Sell rating. The average ZBH stock price target is $124.04, implying a 1.3% upside potential. While some of the financials of Zimmer Biomet need improvement, it is still a profitable enterprise.
Company Profile:
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.
