Zimmer Biomet (NYSE:ZBH) – Analysts at Leerink Swann dropped their FY2019 earnings estimates for Zimmer Biomet in a report issued on Monday, April 16th. Leerink Swann analyst R. Newitter now expects that the medical equipment provider will earn $8.10 per share for the year, down from their prior forecast of $8.34. Leerink Swann has a “Outperform” rating and a $146.00 price target on the stock.
Zimmer Biomet (NYSE:ZBH) last released its earnings results on Tuesday, January 30th. The medical equipment provider reported $2.10 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $2.10. The firm had revenue of $2.07 billion during the quarter, compared to analyst estimates of $2.03 billion. Zimmer Biomet had a net margin of 23.51% and a return on equity of 15.45%. The business’s revenue was up 3.0% on a year-over-year basis. During the same quarter last year, the business earned $2.14 EPS.
A number of other equities research analysts have also weighed in on the stock. Citigroup decreased their price objective on shares of Zimmer Biomet from $132.00 to $121.00 and set a “neutral” rating for the company in a report on Tuesday, February 27th. ValuEngine upgraded shares of Zimmer Biomet from a “hold” rating to a “buy” rating in a report on Thursday, January 11th. Morgan Stanley decreased their price objective on shares of Zimmer Biomet from $150.00 to $148.00 and set an “overweight” rating for the company in a report on Monday, February 26th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Zimmer Biomet in a report on Friday, January 5th. Finally, Raymond James started coverage on shares of Zimmer Biomet in a report on Thursday, March 15th. They set an “outperform” rating and a $135.00 price objective for the company. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $138.80.
Shares of ZBH opened at $110.08 on Tuesday. Zimmer Biomet has a 1-year low of $104.28 and a 1-year high of $133.49. The stock has a market cap of $21,785.47, a P/E ratio of 13.71, a P/E/G ratio of 1.87 and a beta of 1.17. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.50 and a quick ratio of 0.81.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 30th. Stockholders of record on Thursday, March 29th will be given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.87%. The ex-dividend date of this dividend is Wednesday, March 28th. Zimmer Biomet’s payout ratio is currently 11.96%.
In other news, VP Chad F. Phipps sold 20,826 shares of Zimmer Biomet stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $115.95, for a total value of $2,414,774.70. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Bryan C. Hanson acquired 25,077 shares of the business’s stock in a transaction dated Tuesday, February 20th. The stock was purchased at an average cost of $119.68 per share, for a total transaction of $3,001,215.36. The disclosure for this purchase can be found here. 0.71% of the stock is owned by insiders.
Several institutional investors have recently modified their holdings of the company. Longview Partners Guernsey LTD grew its position in shares of Zimmer Biomet by 6.9% in the 4th quarter. Longview Partners Guernsey LTD now owns 8,027,808 shares of the medical equipment provider’s stock worth $968,716,000 after buying an additional 521,124 shares during the last quarter. American Century Companies Inc. grew its position in shares of Zimmer Biomet by 14.7% in the 4th quarter. American Century Companies Inc. now owns 4,777,397 shares of the medical equipment provider’s stock worth $576,488,000 after buying an additional 612,044 shares during the last quarter. OppenheimerFunds Inc. grew its position in shares of Zimmer Biomet by 14.8% in the 4th quarter. OppenheimerFunds Inc. now owns 2,644,596 shares of the medical equipment provider’s stock worth $319,124,000 after buying an additional 340,845 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Zimmer Biomet by 4.9% in the 4th quarter. Geode Capital Management LLC now owns 2,175,052 shares of the medical equipment provider’s stock worth $261,927,000 after buying an additional 101,575 shares during the last quarter. Finally, Wells Fargo & Company MN grew its position in shares of Zimmer Biomet by 98.8% in the 4th quarter. Wells Fargo & Company MN now owns 2,044,375 shares of the medical equipment provider’s stock worth $246,695,000 after buying an additional 1,016,085 shares during the last quarter. 86.34% of the stock is currently owned by hedge funds and other institutional investors.
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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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