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Stock Market & Financial Investment News

News Breaks
December 28, 2012
12:26 EDTZMHZimmer down slightly after FDA recalls PEEK Ardis Inserter
The FDA announced that it was issuing a Class I recall for Zimmer Spine's (ZMH) PEEK Ardis Inserter. A Class I recall is issued when the FDA believes that there is a reasonable probability that the use of a product could cause serious health problems. The device is used to insert Zimmer's PEEK Ardis Interbody Spacer during spinal surgery. Zimmer was told that the spacer has broken into fragments when too much lateral force is applied to the inserter in some cases, the FDA reported. As a result, patients may experience various adverse effects, including a tear in the thin covering of the spinal cord, cerebrospinal fluid leakage, significant blood loss and nerve injury, according to the agency. Long-term health risks may include disability, dysfunction, or death, it added. The FDA's recall was initiated on December 21. Zimmer, on December 20, had initiated a voluntary recall of all 315 of its PEEK inserter units. Zimmer said at that time that it had received reports of the spacer implant breaking, but did not list adverse health effects that could occur if the implant breaks. In early afternoon trading, Zimmer fell 38c, or 0.57%, to $66.35.
News For ZMH From The Last 14 Days
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July 24, 2014
15:11 EDTZMHZimmer valuation not reflecting Biomet deal potential, says Cantor
Cantor says Zimmer remains its preferred name in orthopedics despite its "disappointing" Q2 report, as the firm believes the stock's valuation doesn't properly reflects the potential from its tie-up with Biomet. Cantor thinks Zimmer management's synergy targets are possibly conservative and raised its price target on the stock to $117 from $113.
08:27 EDTZMHZimmer 'confident' Biomet merger transaction to be completed in 1Q15
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08:25 EDTZMHZimmer sees FY14 gross margin ratio at 73%-74%
Expects FY14 SG&A to be unchanged, although it says there will be a seasonally higher ratio in Q3. Sees FY14 tax rate of 25.5%.
08:25 EDTZMHZimmer sees Q3 EPS $1.29-$1.31, consensus $1.37
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08:19 EDTZMHLeerink medical devices analyst holds an analyst/industry conference call
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07:48 EDTZMHZimmer cuts FY14 EPS to $6.00-$6.10 from $6.00-$6.20, consensus $6.12
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07:47 EDTZMHZimmer reports Q2 adjusted EPS $1.49, consensus $1.49
Reports Q2 revenue $1.18b, consensus $1.21B
July 22, 2014
08:15 EDTZMHZimmer should be bought on any weakness from Q2 results, says RBC Capital
RBC Capital believes that consensus Q2 recon estimates for Zimmer may be "a bit optimistic," but the firm thinks that investors already partially anticipate a miss on that metric The firm recommends buying the stock on any weakness associated with Q2 results, as it thinks the company's valuation is favorable, given its growth outlook. RBC Capital keeps a $120 price target and Outperform rating on the shares.
July 10, 2014
09:06 EDTZMHBofA/Merrill remains bullish on Zimmer
BofA/Merrill said BMET reported solid Q4 results, which bode well for Zimmer (ZMH). The firm rates ZImmer a Buy with a $125 price target and a best idea.
06:42 EDTZMHBiomet reports Q4 net sales up 7.7% to $844.5M
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