Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

Equity Bottom-Up

Zimmer Biomet Holdings / Equity Bottom-Up

<ul><li>In the latest quarterly result, Zimmer managed on-par net sales amounted to $1.754 billion, reflecting a 5% increase on a reported basis, with a concurrent 4.7% rise when excluding the impact of foreign currency.</li><li>In terms of cash and liquidity, operating cash flows amounted to $338 million, with free cash flow at $189 million for the quarter.</li><li>Free cash flow for the year is expected to range between $950 million and $1 billion.</li></ul>

In the latest quarterly result, Zimmer managed on-par net sales amounted to $1.754 billion, reflecting a 5% increase on a reported basis, with a concurrent 4.7% rise when excluding the impact of foreign currency.In terms of cash and liquidity, operating cash flows amounted to $338 million, with free cash flow at $189 million for the quarter.Free cash flow for the year is expected to range between $950 million and $1 billion.

Zimmer Biomet Holdings: Navigating International Markets – A Strategy for Growth Amid Challenges! - Major Drivers

Global Healthcare Analyst

Tina Banerjee

<ul>
<li>In November, <a href="https://www.smartkarma.com/entities/orthofix-medical-inc" target="_blank" data-smartkarma-citation="entities:1264:1" rel="noopener">Orthofix International Nv (OFIX US)</a> named Massimo Calafiore as incoming President and CEO. Mr. Calafiore has extensive knowledge in orthopedics and spine, and M&amp;A integration expertise.</li>
<li>Orthofix has performed well and operated smoothly following management transition. In 3Q23, revenue increased 61% YoY on a reported basis and 1% YoY on a pro forma basis to $184M.</li>
<li>The company expects to deliver much higher adjusted profits next year and to exit 2024 cash-flow positive from an estimated $100 million outflow for 2023.</li>
</ul>


In November, Orthofix International Nv (OFIX US) named Massimo Calafiore as incoming President and CEO. Mr. Calafiore has extensive knowledge in orthopedics and spine, and M&amp;A integration expertise.
Orthofix has performed well and operated smoothly following management transition. In 3Q23, revenue increased 61% YoY on a reported basis and 1% YoY on a pro forma basis to $184M.
The company expects to deliver much higher adjusted profits next year and to exit 2024 cash-flow positive from an estimated $100 million outflow for 2023.


Orthofix International (OFIX US): Limited Downside Likely; Looking Ahead to 2024 with New Management

<ul><li>Zimmer Biomet Holdings delivered a strong result and managed an all-around beat last quarter.</li><li>The company reported increased GAAP diluted earnings per share due to higher revenues and effective cost management.</li><li>Moreover, the company's strong operating cash flows and solid balance sheet position provide the strategic flexibility needed for future growth initiatives.</li></ul>

Zimmer Biomet Holdings delivered a strong result and managed an all-around beat last quarter.The company reported increased GAAP diluted earnings per share due to higher revenues and effective cost management.Moreover, the company's strong operating cash flows and solid balance sheet position provide the strategic flexibility needed for future growth initiatives.

Zimmer Biomet Holdings Inc.: Navigating Global Uncertainties with A Unique Growth Strategy! - Major Drivers

<ul><li>Zimmer delivered a strong result and managed an all-around beat in the last quarter.</li><li>On the financial front, Zimmer reported increased net earnings, improved gross margins, and a significant rise in adjusted earnings per share.</li><li>The company experienced accelerated recovery in elective procedures, supported by the normalization of cancellation rates and backlog recapture.</li></ul>

Zimmer delivered a strong result and managed an all-around beat in the last quarter.On the financial front, Zimmer reported increased net earnings, improved gross margins, and a significant rise in adjusted earnings per share.The company experienced accelerated recovery in elective procedures, supported by the normalization of cancellation rates and backlog recapture.

Zimmer Biomet Holdings Inc.: A Powerhouse Driving Sustained Growth in Biotech! – Key Drivers

Credit

<ul><li>Zimmer Biomet Holdings is a global medical technology giant.</li><li>The management has been seeing positive comps across 2022 and saw good growth in major joints, with their entire global hip and knee business expanding well.</li><li>Baptista Research looks to evaluate the different credit strengths and credit risks of the company as well as a line-by-line analysis of the financial statements of the company for the past four years.</li></ul>

Zimmer Biomet Holdings is a global medical technology giant.The management has been seeing positive comps across 2022 and saw good growth in major joints, with their entire global hip and knee business expanding well.Baptista Research looks to evaluate the different credit strengths and credit risks of the company as well as a line-by-line analysis of the financial statements of the company for the past four years.

Zimmer Biomet Holdings Inc.: Detailed Credit Analysis & Financial Strength Evaluation Report

United States

Zimmer Biomet Holdings, Inc. designs, develops, manufactures, and markets medical equipment. The Company offers orthopedic, dental, and spinal reconstructive implants, as well as bone cement and related surgical products. Zimmer Biomet Holdings serves patients worldwide.

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Zimmer Biomet Holdings (ZBH UN)

Zimmer Biomet Holdings: Navigating International Markets – A Strategy for Growth Amid Challenges! - Major Drivers

In the latest quarterly result, Zimmer managed on-par net sales amounted to $1.754 billion, reflecting a 5% increase on a reported basis, with a...

Baptista Research

Orthofix International (OFIX US): Limited Downside Likely; Looking Ahead to 2024 with New Management

Orthofix has named Massimo Calafiore as its new CEO, who will bring expertise in spine and orthopedics and M&A integration. The company expects...

Tina Banerjee

Zimmer Biomet Holdings Inc.: Navigating Global Uncertainties with A Unique Growth Strategy! - Major Drivers

Zimmer Biomet Holdings delivered a strong result and managed an all-around beat last quarter. The company reported increased GAAP diluted earnings...

Baptista Research

Zimmer Biomet Holdings Inc.: A Powerhouse Driving Sustained Growth in Biotech! – Key Drivers

Zimmer delivered a strong result and managed an all-around beat in the last quarter. On the financial front, Zimmer reported increased net...

Baptista Research

Zimmer Biomet Holdings Inc.: Detailed Credit Analysis & Financial Strength Evaluation Report

Zimmer Biomet Holdings is a global medical technology giant. The management has been seeing positive comps across 2022 and saw good growth in...

Baptista Research

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Zimmer Biomet Holdings: Navigating International Markets – A Strategy for Growth Amid Challenges! - Major Drivers

In the latest quarterly result, Zimmer managed on-par net sales amounted to $1.754 billion, reflecting a 5% increase on a reported basis, with a...

Baptista Research

Orthofix International (OFIX US): Limited Downside Likely; Looking Ahead to 2024 with New Management

​Orthofix has named Massimo Calafiore as its new CEO, who will bring expertise in spine and orthopedics and M&A integration. The company expects...

Tina Banerjee

Zimmer Biomet Holdings Inc.: Navigating Global Uncertainties with A Unique Growth Strategy! - Major Drivers

Zimmer Biomet Holdings delivered a strong result and managed an all-around beat last quarter. The company reported increased GAAP diluted earnings...

Baptista Research

Zimmer Biomet Holdings Inc.: A Powerhouse Driving Sustained Growth in Biotech! – Key Drivers

Zimmer delivered a strong result and managed an all-around beat in the last quarter. On the financial front, Zimmer reported increased net...

Baptista Research

Zimmer Biomet Holdings Inc.: Detailed Credit Analysis & Financial Strength Evaluation Report

Zimmer Biomet Holdings is a global medical technology giant. The management has been seeing positive comps across 2022 and saw good growth in...

Baptista Research

Orthofix has named Massimo Calafiore as its new CEO, who will bring expertise in spine and orthopedics and M&A integration. The company expects...