Zimmer Biomet Holdings, Inc. (ZBH) in Warsaw, Ind., designs, manufactures, and markets musculoskeletal healthcare products and solutions in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. ZBH’s shares have slumped 24.3% in price over the past year and 3.9% year-to-date to close yesterday’s trading session at $122.14. They are currently trading 32.3% below their 52-week high of $180.36.
Furthermore, the stock tumbled last week after the company fell short of fourth-quarter revenue and earnings estimates. According the ZBH, the pandemic impacted the company’s performance as patients delayed their health procedures to avoid Covid exposures and staff shortages in hospitals. “As we expected, the ongoing COVID pandemic continued to pressure our business in Q4. The quarter was particularly impacted throughout December due to hospital staffing shortages and the omicron variant surge worldwide,” said Bryan Hanson, Chairman, President, and CEO of ZBH.
