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Stock Alert: Zimmer Biomet Holdings Inc. (ZBH) Hit 52-Week High

Shares of Zimmer Biomet Holdings Inc. (ZBH) touched a 52-week high of $157.82 today, following the company's announcement of its upbeat Q4 results, and strong FY 2020 guidance.

The company reported Q4 net income of $320.7 million or $1.54 per share versus a loss of $901.1 million or $4.42 per share last year. Adjusted earnings for the quarter amounted to $478.1 million or $2.30 per share.

Revenue increased to $2.13 billion from $2.07 billion generated a yera ago.

For fiscal 2020, the company now expects adjusted earnings in a range of $8.15 - $8.45 per share on projected revenue growth of 2.5% - 3.5% from last year on a reported and constant currency basis.

Analysts polled by Thomson Reuters expect the company to earn $8.29 per share on revenue growth of 2.50% to $8.16 billion for the year.

Also, the company recently began a number of restructuring initiatives, including reorganizing business units to create greater strategic alignment, increased efficiency and improved resource allocation for accelerated growth.

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