Wall Street Analysts Lower Estimates for Zimmer Hip Sales
Investment analysts from the respected finance firm Leerink Swann recently lowered their sales and earnings estimates for Zimmer Holdings, Inc. — a company that many plaintiffs, and their Zimmer hip lawyer, have named in a Zimmer hip replacement lawsuit.
Leerink Swann analysts explained that the move to lower estimates for Zimmer’s 2011 and 2012 artificial hip and knee sales was made “to reflect more conservative hip/knee growth assumptions.”
The move echoed a recent evaluation by Goldman Sachs, whose analysts downgraded the Zimmer stock from “neutral” to “sell.” According to the Wall Street Journal’s Marketwatch website, Zimmer Holdings stock has been re-assessed in part because the joint manufacturer “face[s] pressures from insurance companies [and] a decline in medical usage.”
Despite the stock downgrade, as well as the fact that numerous plaintiffs have filed a Zimmer hip replacement lawsuit against the company, Zimmer is still expected to post a total revenue of approximately $4.5 billion dollars in 2011 alone from its artificial hip and knee division.
Zimmer hip implant recall targeted Durom Cup
In 2008, the company issued a voluntary Zimmer hip implant recall for its Durom Cup hip device. The Durom Cup Zimmer hip implant recall was a reaction to reports from the orthopedic community of higher than expected rates of early device loosening with the Durom Cup. Many patients who experienced this early device loosening — along with side effects such as intense pain, joint stiffness, immobility, and the need for a second, revision surgery — have hired a Zimmer hip lawyer to seek compensation for their injuries via a Zimmer hip replacement lawsuit.
Zimmer Holdings revealed at a 2010 quarterly stockholders meeting that it had reserved approximately $145 million dollars as a settlement fund from which to pay out compensation to plaintiffs who have hired a Zimmer hip lawyer to file a Zimmer hip replacement lawsuit due to problems with the Durom Cup.
Zimmer hip lawyer may counsel clients to join MDL
Lawsuits filed by Zimmer hip lawyer in federal courts across the U.S. were consolidated into multidistrict litigation, and transferred to a single court for pre-trial coordination, in 2010. A Zimmer hip lawyer is expected to begin opening arguments in the first MDL bellwether trial sometime in 2012.