Zimmer Biomet Holdings, Inc. (ZBH) to Post Q3 2017 Earnings of $1.72 Per Share, Leerink Swann Forecasts
Zimmer Biomet Holdings, Inc. (NYSE:ZBH) – Equities researchers at Leerink Swann decreased their Q3 2017 earnings estimates for Zimmer Biomet Holdings in a report released on Thursday. Leerink Swann analyst R. Newitter now expects that the medical equipment provider will post earnings per share of $1.72 for the quarter, down from their previous forecast of $1.76. Leerink Swann has a “Outperform” rating and a $146.00 price objective on the stock. Leerink Swann also issued estimates for Zimmer Biomet Holdings’ FY2017 earnings at $8.21 EPS, FY2018 earnings at $8.63 EPS and FY2019 earnings at $9.54 EPS.
Zimmer Biomet Holdings (NYSE:ZBH) last released its quarterly earnings data on Thursday, July 27th. The medical equipment provider reported $2.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.10 by ($0.02). Zimmer Biomet Holdings had a net margin of 9.12% and a return on equity of 16.70%. The firm had revenue of $1.95 billion for the quarter, compared to the consensus estimate of $1.95 billion. During the same quarter in the prior year, the firm posted $2.02 earnings per share. The business’s revenue for the quarter was up 1.1% on a year-over-year basis.
A number of other brokerages have also weighed in on ZBH. Royal Bank Of Canada lifted their target price on shares of Zimmer Biomet Holdings from $133.00 to $140.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 21st. Bank of America Corporation reaffirmed a “buy” rating and issued a $158.00 target price on shares of Zimmer Biomet Holdings in a research report on Friday, July 14th. BidaskClub downgraded shares of Zimmer Biomet Holdings from a “buy” rating to a “hold” rating in a research report on Monday, July 24th. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $135.00 target price on shares of Zimmer Biomet Holdings in a research report on Friday, July 28th. Finally, Zacks Investment Research downgraded shares of Zimmer Biomet Holdings from a “hold” rating to a “sell” rating in a research report on Tuesday, August 1st. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. Zimmer Biomet Holdings has an average rating of “Hold” and a consensus target price of $136.55.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 27th. Stockholders of record on Friday, September 22nd will be paid a dividend of $0.24 per share. The ex-dividend date is Thursday, September 21st. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.80%. Zimmer Biomet Holdings’s dividend payout ratio is presently 27.59%.
In other Zimmer Biomet Holdings news, VP Tony W. Collins sold 16,986 shares of the firm’s stock in a transaction on Monday, July 31st. The shares were sold at an average price of $121.74, for a total value of $2,067,875.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.07% of the company’s stock.
Large investors have recently added to or reduced their stakes in the company. Bronfman E.L. Rothschild L.P. grew its position in Zimmer Biomet Holdings by 25.3% during the second quarter. Bronfman E.L. Rothschild L.P. now owns 827 shares of the medical equipment provider’s stock valued at $106,000 after buying an additional 167 shares during the period. Parkside Financial Bank & Trust grew its position in Zimmer Biomet Holdings by 3.9% during the second quarter. Parkside Financial Bank & Trust now owns 872 shares of the medical equipment provider’s stock valued at $112,000 after buying an additional 33 shares during the period. BB&T Investment Services Inc. acquired a new stake in Zimmer Biomet Holdings during the second quarter valued at $144,000. Parallel Advisors LLC grew its position in Zimmer Biomet Holdings by 20.8% during the first quarter. Parallel Advisors LLC now owns 1,157 shares of the medical equipment provider’s stock valued at $138,000 after buying an additional 199 shares during the period. Finally, IHT Wealth Management LLC grew its position in Zimmer Biomet Holdings by 28.4% during the first quarter. IHT Wealth Management LLC now owns 1,158 shares of the medical equipment provider’s stock valued at $139,000 after buying an additional 256 shares during the period. Hedge funds and other institutional investors own 85.36% of the company’s stock.
Zimmer Biomet Holdings Company Profile
Zimmer Biomet Holdings, Inc is engaged in designing, manufacturing and marketing of orthopedic reconstructive products; sports medicine, biologics, extremities and trauma products; office-based technologies; spine, craniomaxillofacial and thoracic products; dental implants, and related surgical products.
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