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WARSAW, Ind. - Zimmer Biomet Holdings, Inc. (NYSE and SIX:ZBH) has completed its acquisition of Monogram Technologies Inc., an AI-driven orthopedic robotics company, according to a press release issued Tuesday. The medical device giant, with a market capitalization of $19.6 billion and trailing twelve-month revenue of $7.8 billion, maintains strong financial health with a robust gross profit margin of 71%.
The transaction adds Monogram’s semi-autonomous and fully autonomous robotic technologies to Zimmer Biomet’s existing portfolio of orthopedic solutions. Monogram’s CT-based, semi-autonomous knee replacement system received FDA 510(k) clearance in March 2025 and is expected to be commercialized with Zimmer Biomet implants by early 2027. According to InvestingPro analysis, Zimmer Biomet appears undervalued based on its Fair Value calculations, with analysts predicting continued profitability this year.
Under the terms of the agreement, Monogram shareholders received $4.04 in cash per share and non-tradeable contingent value rights that could provide up to an additional $12.37 per share if certain development, regulatory and revenue milestones are achieved through 2030.
Following the acquisition, Monogram shares ceased trading on NASDAQ before market opening Tuesday.
"By bringing Monogram into the Zimmer Biomet innovation ecosystem, we have set a bold course to become the first orthopedic company to offer a fully autonomous robotic solution complementing our current robotic and navigation offerings," said Ivan Tornos, Chairman, President and CEO of Zimmer Biomet, in the statement.
The acquisition expands Zimmer Biomet’s technology portfolio, which already includes its ROSA Robotics platform with nearly 2,000 installations worldwide. The company stated it remains committed to advancing the ROSA platform, with several new products expected between now and 2027, including ROSA Knee with OptimiZe, which is awaiting FDA clearance.
Monogram began conducting a clinical study in July 2025 for the fully autonomous version of its technology, according to the press release.
In other recent news, Zimmer Biomet Holdings, Inc. reported a 3% year-over-year revenue growth on an organic and currency-neutral basis for the second quarter of 2025, surpassing consensus estimates by approximately 1%. This strong performance led JMP Securities to maintain its Market Outperform rating for the company. Zimmer Biomet also received approval from Japan’s Pharmaceutical and Medical Devices Agency for its iTaperloc Complete and iG7 Hip System, marking the introduction of the world’s first orthopedic implants with Iodine Technology.
On the analyst front, Rothschild Redburn initiated coverage of Zimmer Biomet with a Buy rating, citing the company’s potential to reaccelerate organic growth in the orthopedic market. Stifel raised its price target for Zimmer Biomet to $118, maintaining a Buy rating due to positive feedback from orthopedic surgeons on the company’s innovative products. Additionally, Bernstein SocGen Group increased its price target to $105, reflecting an improved outlook with a higher price-to-earnings multiple. These developments indicate a favorable growth trajectory for Zimmer Biomet, according to various analyst assessments.
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