Brokerages predict that Zimmer Biomet Holdings Inc (NYSE:ZBH) will announce earnings per share (EPS) of $1.60 for the current quarter, according to Zacks. Eleven analysts have issued estimates for Zimmer Biomet’s earnings, with the lowest EPS estimate coming in at $1.56 and the highest estimate coming in at $1.67. Zimmer Biomet posted earnings per share of $1.72 in the same quarter last year, which would suggest a negative year over year growth rate of 7%. The business is scheduled to report its next quarterly earnings report on Wednesday, November 7th.
According to Zacks, analysts expect that Zimmer Biomet will report full-year earnings of $7.66 per share for the current financial year, with EPS estimates ranging from $7.60 to $7.74. For the next year, analysts expect that the business will report earnings of $7.95 per share, with EPS estimates ranging from $7.90 to $8.05. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side analysts that cover Zimmer Biomet.
Zimmer Biomet (NYSE:ZBH) last issued its quarterly earnings results on Friday, July 27th. The medical equipment provider reported $1.92 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.88 by $0.04. The business had revenue of $2.01 billion during the quarter, compared to the consensus estimate of $1.99 billion. Zimmer Biomet had a net margin of 21.67% and a return on equity of 13.53%. The firm’s quarterly revenue was up 3.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.08 EPS.
Several equities research analysts recently commented on ZBH shares. Oppenheimer restated a “buy” rating on shares of Zimmer Biomet in a research report on Monday, August 27th. Canaccord Genuity upped their price objective on shares of Zimmer Biomet from $122.00 to $125.00 and gave the company a “hold” rating in a research note on Monday, July 30th. Citigroup upped their price objective on shares of Zimmer Biomet from $117.00 to $128.00 and gave the company a “neutral” rating in a research note on Tuesday, July 31st. Robert W. Baird upped their price objective on shares of Zimmer Biomet from $121.00 to $132.00 and gave the company a “neutral” rating in a research note on Monday, July 30th. Finally, Cantor Fitzgerald upped their price objective on shares of Zimmer Biomet from $140.00 to $150.00 and gave the company an “overweight” rating in a research note on Monday, July 30th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and fifteen have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $135.10.
In other news, CEO Bryan C. Hanson bought 410 shares of the stock in a transaction that occurred on Friday, August 31st. The shares were acquired at an average cost of $123.03 per share, for a total transaction of $50,442.30. Following the purchase, the chief executive officer now owns 25,487 shares of the company’s stock, valued at approximately $3,135,665.61. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Tony W. Collins sold 2,778 shares of the firm’s stock in a transaction on Tuesday, July 31st. The shares were sold at an average price of $125.77, for a total transaction of $349,389.06. The disclosure for this sale can be found here. Corporate insiders own 0.71% of the company’s stock.
A number of large investors have recently bought and sold shares of ZBH. Ceredex Value Advisors LLC acquired a new position in Zimmer Biomet in the 1st quarter valued at $179,652,000. PointState Capital LP bought a new stake in Zimmer Biomet in the 1st quarter valued at $55,992,000. JPMorgan Chase & Co. boosted its holdings in Zimmer Biomet by 4.8% in the 1st quarter. JPMorgan Chase & Co. now owns 9,826,738 shares of the medical equipment provider’s stock valued at $1,071,511,000 after purchasing an additional 450,979 shares during the period. Fred Alger Management Inc. boosted its holdings in Zimmer Biomet by 48.6% in the 2nd quarter. Fred Alger Management Inc. now owns 1,194,763 shares of the medical equipment provider’s stock valued at $133,144,000 after purchasing an additional 390,517 shares during the period. Finally, Renaissance Technologies LLC boosted its holdings in Zimmer Biomet by 96.7% in the 2nd quarter. Renaissance Technologies LLC now owns 596,000 shares of the medical equipment provider’s stock valued at $66,418,000 after purchasing an additional 293,000 shares during the period. Institutional investors and hedge funds own 87.22% of the company’s stock.
Shares of NYSE:ZBH traded down $0.51 during mid-day trading on Wednesday, hitting $129.56. The stock had a trading volume of 66,859 shares, compared to its average volume of 877,207. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.25 and a current ratio of 2.41. The company has a market cap of $25.68 billion, a PE ratio of 16.14, a price-to-earnings-growth ratio of 2.31 and a beta of 1.09. Zimmer Biomet has a 12-month low of $104.28 and a 12-month high of $130.58.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 31st. Stockholders of record on Friday, September 28th will be paid a dividend of $0.24 per share. The ex-dividend date is Thursday, September 27th. This represents a $0.96 annualized dividend and a dividend yield of 0.74%. Zimmer Biomet’s dividend payout ratio (DPR) is 11.96%.
Zimmer Biomet Company Profile
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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