Zimmer Biomet Holdings (ZBH) Stock Analysis & Winston Score

Zimmer Biomet makes medical devices used to replace or repair damaged joints in the human body. Its main products are artificial knees, hips, shoulders, and spine implants, which are sold to hospitals and surgeons around the world. The company is one of the largest orthopedic device makers globally, competing closely with a small group of rivals including Stryker and Johnson & Johnson. Zimmer Biomet earns money by selling its implants and related surgical instruments directly to hospitals and surgical centers. It operates in over 25 countries, with the United States generating the largest share of its roughly $7 billion in annual revenue. The company's moat comes from deep relationships with surgeons, who tend to stick with the implant systems they are trained on. The key growth driver is an aging global population that will need more joint replacements over time, while the main risk is ongoing pressure from hospital customers to lower device prices.