Wall Street brokerages forecast that Zimmer Biomet Holdings Inc (NYSE:ZBH) will report $2.19 earnings per share for the current fiscal quarter, Zacks reports. Eleven analysts have made estimates for Zimmer Biomet’s earnings, with the highest EPS estimate coming in at $2.25 and the lowest estimate coming in at $2.17. Zimmer Biomet posted earnings of $2.10 per share in the same quarter last year, which would suggest a positive year over year growth rate of 4.3%. The company is scheduled to report its next quarterly earnings results on Tuesday, January 29th.
On average, analysts expect that Zimmer Biomet will report full year earnings of $7.65 per share for the current financial year, with EPS estimates ranging from $7.60 to $7.70. For the next financial year, analysts forecast that the firm will report earnings of $7.91 per share, with EPS estimates ranging from $7.80 to $8.40. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research analysts that cover Zimmer Biomet.
Zimmer Biomet (NYSE:ZBH) last released its earnings results on Friday, October 26th. The medical equipment provider reported $1.63 earnings per share for the quarter, beating the consensus estimate of $1.60 by $0.03. Zimmer Biomet had a return on equity of 12.88% and a net margin of 22.42%. The firm had revenue of $1.84 billion for the quarter, compared to analyst estimates of $1.84 billion. During the same quarter in the prior year, the firm posted $1.72 earnings per share. The company’s quarterly revenue was up 1.3% on a year-over-year basis.
Several research firms have weighed in on ZBH. Leerink Swann cut their target price on Zimmer Biomet from $146.00 to $141.00 and set an “outperform” rating on the stock in a research note on Monday, October 29th. Jefferies Financial Group cut their target price on Zimmer Biomet from $145.00 to $140.00 and set a “buy” rating on the stock in a research note on Monday, October 29th. Citigroup cut their target price on Zimmer Biomet from $129.00 to $122.00 and set a “neutral” rating on the stock in a research note on Monday, October 29th. Barclays cut their target price on Zimmer Biomet from $131.00 to $119.00 and set a “sell” rating on the stock in a research note on Monday, October 29th. Finally, Oppenheimer set a $135.00 target price on Zimmer Biomet and gave the company a “buy” rating in a research note on Monday, October 29th. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $134.30.
In related news, VP Chad F. Phipps sold 30,100 shares of Zimmer Biomet stock in a transaction that occurred on Friday, September 21st. The stock was sold at an average price of $132.37, for a total value of $3,984,337.00. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Bryan C. Hanson bought 410 shares of the company’s stock in a transaction that occurred on Friday, August 31st. The stock was purchased at an average cost of $123.03 per share, for a total transaction of $50,442.30. Following the transaction, the chief executive officer now owns 25,487 shares in the company, valued at approximately $3,135,665.61. The disclosure for this purchase can be found here. Company insiders own 0.71% of the company’s stock.
A number of institutional investors have recently made changes to their positions in ZBH. IFM Investors Pty Ltd raised its position in Zimmer Biomet by 48.2% in the 2nd quarter. IFM Investors Pty Ltd now owns 9,240 shares of the medical equipment provider’s stock valued at $1,030,000 after buying an additional 3,006 shares during the last quarter. State of Alaska Department of Revenue raised its position in Zimmer Biomet by 4.7% in the 2nd quarter. State of Alaska Department of Revenue now owns 32,288 shares of the medical equipment provider’s stock valued at $3,597,000 after buying an additional 1,460 shares during the last quarter. Pennsylvania Trust Co raised its position in Zimmer Biomet by 13.8% in the 2nd quarter. Pennsylvania Trust Co now owns 8,687 shares of the medical equipment provider’s stock valued at $968,000 after buying an additional 1,053 shares during the last quarter. FormulaFolio Investments LLC acquired a new stake in Zimmer Biomet in the 2nd quarter valued at approximately $786,000. Finally, Regent Investment Management LLC acquired a new stake in Zimmer Biomet in the 2nd quarter valued at approximately $201,000. 86.28% of the stock is currently owned by institutional investors and hedge funds.
NYSE:ZBH opened at $117.62 on Friday. Zimmer Biomet has a 1-year low of $104.28 and a 1-year high of $134.55. The company has a current ratio of 1.89, a quick ratio of 0.96 and a debt-to-equity ratio of 0.70. The stock has a market capitalization of $23.47 billion, a price-to-earnings ratio of 14.65, a P/E/G ratio of 2.33 and a beta of 1.16.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 31st. Stockholders of record on Friday, September 28th were given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.82%. The ex-dividend date of this dividend was Thursday, September 27th. Zimmer Biomet’s dividend payout ratio is currently 11.96%.
About Zimmer Biomet
Zimmer Biomet Holdings, Inc, together with its subsidiaries, designs, manufactures, and markets musculoskeletal healthcare products and solutions in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. It operates through four segments: Spine, less Asia Pacific; Office Based Technologies; Craniomaxillofacial and Thoracic; and Dental.
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