Zimmer Biomet Holdings Inc (NYSE:ZBH) – Analysts at Northcoast Research decreased their FY2018 earnings estimates for Zimmer Biomet in a research note issued to investors on Monday, October 29th. Northcoast Research analyst D. Keiser now forecasts that the medical equipment provider will earn $7.67 per share for the year, down from their previous estimate of $7.73. Northcoast Research also issued estimates for Zimmer Biomet’s Q4 2018 earnings at $2.21 EPS, Q1 2019 earnings at $1.95 EPS, Q2 2019 earnings at $1.96 EPS, Q4 2019 earnings at $2.29 EPS and FY2019 earnings at $7.86 EPS.
A number of other research firms also recently commented on ZBH. Oppenheimer restated a “buy” rating on shares of Zimmer Biomet in a research report on Monday, August 27th. Canaccord Genuity lifted their target price on Zimmer Biomet from $122.00 to $125.00 and gave the company a “hold” rating in a research report on Monday, July 30th. Citigroup lifted their target price on Zimmer Biomet from $117.00 to $128.00 and gave the company a “neutral” rating in a research report on Tuesday, July 31st. Robert W. Baird lifted their target price on Zimmer Biomet from $121.00 to $132.00 and gave the company a “neutral” rating in a research report on Monday, July 30th. Finally, Barclays started coverage on Zimmer Biomet in a research report on Monday, October 15th. They issued an “underweight” rating and a $131.00 target price on the stock. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and fifteen have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $133.86.
Zimmer Biomet (NYSE:ZBH) last posted its earnings results on Friday, October 26th. The medical equipment provider reported $1.63 EPS for the quarter, beating the Zacks’ 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 company had revenue of $1.84 billion for the quarter, compared to the consensus estimate of $1.84 billion. During the same quarter in the previous year, the business earned $1.72 earnings per share. The company’s revenue for the quarter was up 1.3% on a year-over-year basis.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 31st. Investors of record on Friday, September 28th will be issued a $0.24 dividend. The ex-dividend date is Thursday, September 27th. This represents a $0.96 annualized dividend and a dividend yield of 0.83%. Zimmer Biomet’s dividend payout ratio is presently 11.96%.
In related news, CEO Bryan C. Hanson bought 410 shares of the stock in a transaction that occurred on Friday, August 31st. The stock was purchased at an average cost of $123.03 per share, with a total value of $50,442.30. Following the purchase, the chief executive officer now directly owns 25,487 shares of the company’s stock, valued at approximately $3,135,665.61. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Chad F. Phipps sold 30,100 shares of the business’s stock in a transaction 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 disclosure for this sale can be found here. 0.71% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in ZBH. Fred Alger Management Inc. grew its stake in Zimmer Biomet by 48.6% during the 2nd quarter. Fred Alger Management Inc. now owns 1,194,763 shares of the medical equipment provider’s stock worth $133,144,000 after purchasing an additional 390,517 shares in the last quarter. Renaissance Technologies LLC grew its stake in Zimmer Biomet by 96.7% during the 2nd quarter. Renaissance Technologies LLC now owns 596,000 shares of the medical equipment provider’s stock worth $66,418,000 after purchasing an additional 293,000 shares in the last quarter. State of New Jersey Common Pension Fund D grew its stake in Zimmer Biomet by 423.0% during the 2nd quarter. State of New Jersey Common Pension Fund D now owns 316,397 shares of the medical equipment provider’s stock worth $35,259,000 after purchasing an additional 255,897 shares in the last quarter. Voya Investment Management LLC grew its stake in Zimmer Biomet by 246.5% during the 2nd quarter. Voya Investment Management LLC now owns 358,559 shares of the medical equipment provider’s stock worth $39,958,000 after purchasing an additional 255,088 shares in the last quarter. Finally, Cornerstone Wealth Management LLC grew its stake in Zimmer Biomet by 119.3% during the 3rd quarter. Cornerstone Wealth Management LLC now owns 35,143 shares of the medical equipment provider’s stock worth $299,000 after purchasing an additional 217,146 shares in the last quarter. 86.58% of the stock is owned by hedge funds and other institutional investors.
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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