$1.84 Billion in Sales Expected for Zimmer Biomet Holdings, Inc. (ZBH) This Quarter
Brokerages forecast that Zimmer Biomet Holdings, Inc. (NYSE:ZBH) will report $1.84 billion in sales for the current fiscal quarter, Zacks reports. Ten analysts have issued estimates for Zimmer Biomet Holdings’ earnings, with the highest sales estimate coming in at $1.89 billion and the lowest estimate coming in at $1.83 billion. Zimmer Biomet Holdings reported sales of $1.83 billion in the same quarter last year, which would suggest a positive year over year growth rate of 0.5%. The business is expected to issue its next quarterly earnings report on Monday, October 30th.
According to Zacks, analysts expect that Zimmer Biomet Holdings will report full-year sales of $1.84 billion for the current year, with estimates ranging from $7.81 billion to $7.91 billion. For the next financial year, analysts anticipate that the firm will post sales of $8.09 billion per share, with estimates ranging from $7.94 billion to $8.22 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Zimmer Biomet Holdings.
Zimmer Biomet Holdings (NYSE:ZBH) last released its quarterly earnings data on Thursday, July 27th. The medical equipment provider reported $2.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.10 by $0.02. The business had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $1.95 billion. Zimmer Biomet Holdings had a net margin of 9.12% and a return on equity of 16.70%. Zimmer Biomet Holdings’s quarterly revenue was up 1.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.02 EPS.
A number of equities research analysts recently commented on ZBH shares. Goldman Sachs Group, Inc. (The) started coverage on shares of Zimmer Biomet Holdings in a report on Tuesday, May 16th. They issued a “sell” rating and a $92.00 price target on the stock. Zacks Investment Research cut shares of Zimmer Biomet Holdings from a “hold” rating to a “sell” rating in a report on Thursday, April 13th. Canaccord Genuity reaffirmed a “buy” rating on shares of Zimmer Biomet Holdings in a report on Friday, April 28th. Wells Fargo & Company cut shares of Zimmer Biomet Holdings from an “outperform” rating to a “market perform” rating in a report on Friday, April 28th. Finally, Morgan Stanley boosted their target price on shares of Zimmer Biomet Holdings from $137.00 to $150.00 and gave the company an “overweight” rating in a report on Monday, July 17th. Four research analysts have rated the stock with a sell rating, seven have given a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $137.76.
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In related news, VP Tony W. Collins sold 16,986 shares of the stock in a transaction dated Monday, July 31st. The shares were sold at an average price of $121.74, for a total value of $2,067,875.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Sang Yi sold 17,731 shares of the stock in a transaction dated Monday, June 12th. The stock was sold at an average price of $124.56, for a total transaction of $2,208,573.36. The disclosure for this sale can be found here. 1.07% of the stock is owned by corporate insiders.
A number of large investors have recently made changes to their positions in ZBH. MARSHALL WACE ASIA Ltd acquired a new stake in shares of Zimmer Biomet Holdings during the first quarter worth $38,621,000. Cibc World Markets Corp boosted its stake in shares of Zimmer Biomet Holdings by 52.9% in the first quarter. Cibc World Markets Corp now owns 21,007 shares of the medical equipment provider’s stock worth $2,565,000 after buying an additional 7,269 shares during the period. Caxton Associates LP acquired a new stake in shares of Zimmer Biomet Holdings during the first quarter worth $403,000. Koch Industries Inc. acquired a new stake in shares of Zimmer Biomet Holdings during the first quarter worth $255,000. Finally, Israel Discount Bank of New York acquired a new stake in shares of Zimmer Biomet Holdings during the first quarter worth $721,000. Institutional investors and hedge funds own 84.13% of the company’s stock.
Shares of Zimmer Biomet Holdings (ZBH) opened at 117.93 on Friday. The company has a market cap of $23.80 billion, a price-to-earnings ratio of 33.59 and a beta of 1.20. Zimmer Biomet Holdings has a 1-year low of $95.63 and a 1-year high of $133.49. The firm has a 50-day moving average price of $127.65 and a 200 day moving average price of $121.39.
The business also recently declared a quarterly dividend, which was paid on Friday, July 28th. Investors of record on Friday, June 23rd were paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 0.81%. The ex-dividend date was Wednesday, June 21st. Zimmer Biomet Holdings’s payout ratio is currently 27.59%.
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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