Domonic Zarrini Zimmer Holdings, Inc. (ZMH)-NYSE 112.09.

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Presentation transcript:

Domonic Zarrini Zimmer Holdings, Inc. (ZMH)-NYSE

Screening Process Focus on Domestic Stocks Industry Classification: Healthcare Equipment and Services (primary) Exchanges (All Listing): Major US Exchanges 279 Forward P/E: Capital IQ (NTM) Greater than LT EPS Growth Rate: Capital IQ (Latest) Greater than EPS Surprise – Capital IQ (FY) Greater than 0 58

Company Overview Zimmer Holdings, Inc. designs, develops, manufactures, and markets orthopaedic and dental reconstructive implants, spinal implants, trauma products and related surgical products. The Company also provides other healthcare related services. Ticker: ZMH Sector: Health Care Industry: Medical Equipment & Devices Sub-Industry: Medical Devices Headquarters: Warsaw, IN Employees: 8,500 CEO: David Dvorak Market Cap: 19.02B

Revenue Drivers Reconstructive Implants Competitive advantage lies in hip & knee reconstructive implants due to acquisition of Centerpulse Sell contracts primarily to hospitals, clinics, private practices, orthopedic surgeons

Recent Trends Decreased debt by over 3%, bringing it down to just over 20% Stryker increased debt from 17.1% to 31.5% in a span of 2 years Zimmer is not taking advantage of cheap debt in the market Increased use of off-balance sheet financing by way of lease agreements Grew long term capital leases by 6%

Sector Overview

S&P 500, Sector, & Subsector Chart

Geographical Distribution and Product Segments

SWOT Analysis Strengths Strong manufacturing and commercial capabilities Extensive portfolio of orthopedic reconstructive implants Weaknesses Weak presence in emerging Asian markets may restrict growth Opportunities Strategic acquisitions and joint ventures Favorable demographic trends in the US likely to boost demand for the company’s medical devices Threats Group purchasing organizations’ cost containment measures Inadequate levels of reimbursement may affect the company’s sale growth

Earnings and PE Growth

Earnings Analysis

Balance Sheet Analysis

Earnings Surprise

EPS Projections

Altman-Z Score

Discounted Cash Flow

EPS Growth

Competitor/Industry Comparison

Recommendation Undervalued: BUY