Zimmer Biomet Holdings, Inc. (NYSE:ZBH) – Equities researchers at Northcoast Research lowered their Q3 2017 earnings per share estimates for shares of Zimmer Biomet Holdings in a research report issued on Monday. Northcoast Research analyst D. Keiser now anticipates that the medical equipment provider will post earnings per share of $1.71 for the quarter, down from their prior estimate of $1.76.
Several other research analysts have also recently issued reports on ZBH. Royal Bank Of Canada increased their price target on Zimmer Biomet Holdings from $133.00 to $140.00 and gave the stock an “outperform” rating in a research note on Wednesday, June 21st. Cantor Fitzgerald began coverage on Zimmer Biomet Holdings in a report on Thursday, June 29th. They issued a “neutral” rating and a $137.00 price objective for the company. Jefferies Group LLC restated a “buy” rating and issued a $148.00 price objective on shares of Zimmer Biomet Holdings in a report on Friday, June 30th. Zacks Investment Research lowered Zimmer Biomet Holdings from a “hold” rating to a “sell” rating in a report on Tuesday, July 4th. Finally, BMO Capital Markets restated a “buy” rating and issued a $136.00 price objective on shares of Zimmer Biomet Holdings in a report on Tuesday, July 11th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $136.55.
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Shares of Zimmer Biomet Holdings (NYSE ZBH) opened at 120.69 on Tuesday. The firm has a market capitalization of $24.40 billion, a P/E ratio of 34.37 and a beta of 1.19. Zimmer Biomet Holdings has a one year low of $95.63 and a one year high of $133.49. The company’s 50 day moving average price is $116.60 and its 200 day moving average price is $120.35.
Zimmer Biomet Holdings (NYSE:ZBH) last issued its quarterly earnings results on Thursday, July 27th. The medical equipment provider reported $2.08 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $2.10 by ($0.02). Zimmer Biomet Holdings had a return on equity of 16.70% and a net margin of 9.12%. The company had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.95 billion. During the same period in the prior year, the business earned $2.02 earnings per share. Zimmer Biomet Holdings’s revenue for the quarter was up 1.1% compared to the same quarter last year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 27th. Stockholders of record on Friday, September 22nd will be issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.80%. The ex-dividend date of this dividend is Thursday, September 21st. Zimmer Biomet Holdings’s dividend payout ratio is 27.59%.
In other news, VP Tony W. Collins sold 16,986 shares of the stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $121.74, for a total transaction of $2,067,875.64. The sale was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 1.07% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the company. Bronfman E.L. Rothschild L.P. boosted its stake in Zimmer Biomet Holdings by 25.3% during the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 827 shares of the medical equipment provider’s stock valued at $106,000 after purchasing an additional 167 shares during the period. Parkside Financial Bank & Trust boosted its stake in Zimmer Biomet Holdings by 3.9% during the 2nd quarter. Parkside Financial Bank & Trust now owns 872 shares of the medical equipment provider’s stock valued at $112,000 after purchasing an additional 33 shares during the period. Parallel Advisors LLC boosted its stake in Zimmer Biomet Holdings by 20.8% during the 1st quarter. Parallel Advisors LLC now owns 1,157 shares of the medical equipment provider’s stock valued at $138,000 after purchasing an additional 199 shares during the period. IHT Wealth Management LLC boosted its stake in Zimmer Biomet Holdings by 28.4% during the 1st quarter. IHT Wealth Management LLC now owns 1,158 shares of the medical equipment provider’s stock valued at $139,000 after purchasing an additional 256 shares during the period. Finally, BB&T Investment Services Inc. bought a new stake in Zimmer Biomet Holdings during the 2nd quarter valued at approximately $144,000. 85.22% of the stock is currently owned by institutional investors and hedge funds.
About Zimmer Biomet Holdings
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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