Zimmer Holdings Receives “Neutral” Rating from Zacks (ZMH)
Zimmer Holdings (NYSE:ZMH)‘s stock had its “neutral” rating reaffirmed by Zacks in a research note issued to investors on Friday. They currently have a $100.00 price target on the stock. Zacks‘s price objective would suggest a potential upside of 4.92% from the stock’s previous close.
Zacks’ analyst wrote, “Zimmer’s second-quarter 2014 adjusted EPS of $1.49 edged past the Zacks Consensus Estimate by $0.01 and was up 4.2% year over year. Revenues grossed $1.16 billion, up 0.9% at CER but missed the $1.20 billion mark. The year-over-year growth came on the back of a more favorable mix of products with decent sales growth in all geographies (barring Americas). We believe, with the $13.35 billion acquisition of Biomet, Zimmer will be able to bring forth a market leader in the $45 billion musculoskeletal industry, thereby improving the merged entity’s position in the competitive niche. However, pricing pressure and currency headwind continues to post major threats. Meanwhile, Zimmer is on its way to achieve market growth based on its strong product portfolio and ageing demographics. In order to streamline its business, the company also plans to continue with its global restructuring program. We thus maintain our Neutral’ recommendation on Zimmer.”
A number of other firms have also recently commented on ZMH. Analysts at Citigroup Inc. reiterated a “sell” rating on shares of Zimmer Holdings in a research note on Monday, July 28th. They now have a $95.00 price target on the stock, up previously from $92.00. Separately, analysts at Oppenheimer upgraded shares of Zimmer Holdings from a “market perform” rating to an “outperform” rating in a research note on Monday, July 28th. They now have a $118.00 price target on the stock, up previously from $107.00. Finally, analysts at JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Zimmer Holdings in a research note on Friday, July 25th. They now have a $108.00 price target on the stock, down previously from $109.00. One analyst has rated the stock with a sell rating, four have assigned a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $108.40.
Shares of Zimmer Holdings (NYSE:ZMH) traded up 0.43% during mid-day trading on Friday, hitting $95.72. 706,458 shares of the company’s stock traded hands. Zimmer Holdings has a one year low of $78.00 and a one year high of $108.33. The stock has a 50-day moving average of $102.5 and a 200-day moving average of $98.71. The company has a market cap of $16.119 billion and a price-to-earnings ratio of 20.81.
Zimmer Holdings (NYSE:ZMH) last posted its quarterly earnings results on Thursday, July 24th. The company reported $1.49 earnings per share for the quarter, meeting the analysts’ consensus estimate of $1.49. The company had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.21 billion. During the same quarter last year, the company posted $1.43 earnings per share. Zimmer Holdings’s revenue was up 1.1% compared to the same quarter last year. Analysts expect that Zimmer Holdings will post $6.05 EPS for the current fiscal year.
Zimmer Holdings, Inc (NYSE:ZMH) designs, develops, manufactures and markets orthopaedic reconstructive, spinal and trauma devices, biologics, dental implants and related surgical products.
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