Zimmer Biomet Holdings, Inc. to Post FY2017 Earnings of $8.30 Per Share, Northcoast Research Forecasts (ZBH)
Zimmer Biomet Holdings, Inc. (NYSE:ZBH) – Analysts at Northcoast Research lifted their FY2017 earnings per share estimates for shares of Zimmer Biomet Holdings in a research note issued to investors on Monday. Northcoast Research analyst D. Keiser now anticipates that the medical equipment provider will earn $8.30 per share for the year, up from their prior estimate of $8.27. Northcoast Research also issued estimates for Zimmer Biomet Holdings’ Q4 2017 earnings at $2.37 EPS, Q1 2018 earnings at $2.18 EPS, Q2 2018 earnings at $2.22 EPS, Q3 2018 earnings at $1.92 EPS, Q4 2018 earnings at $2.46 EPS and FY2018 earnings at $8.79 EPS.
Zimmer Biomet Holdings (NYSE:ZBH) last posted its quarterly earnings results 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 company had revenue of $1.95 billion during the quarter, compared to analyst estimates of $1.95 billion. Zimmer Biomet Holdings had a net margin of 9.12% and a return on equity of 16.70%. The company’s revenue was up 1.1% on a year-over-year basis. During the same period in the prior year, the company earned $2.02 earnings per share. ILLEGAL ACTIVITY WARNING: This news story was first reported by Daily Political and is owned by of Daily Political. If you are reading this news story on another site, it was illegally stolen and reposted in violation of US and international trademark & copyright law. The correct version of this news story can be accessed at https://www.dailypolitical.com/2017/10/20/zimmer-biomet-holdings-inc-to-post-fy2017-earnings-of-8-30-per-share-northcoast-research-forecasts-zbh.html.
ZBH has been the topic of a number of other research reports. Zacks Investment Research downgraded shares of Zimmer Biomet Holdings from a “hold” rating to a “strong sell” rating in a research note on Tuesday, August 8th. Morgan Stanley lifted their price target on shares of Zimmer Biomet Holdings from $137.00 to $150.00 and gave the stock an “overweight” rating in a research note on Monday, July 17th. Oppenheimer Holdings, Inc. set a $137.00 price target on shares of Zimmer Biomet Holdings and gave the stock a “buy” rating in a research note on Monday, August 14th. BMO Capital Markets reiterated a “buy” rating and set a $136.00 price target on shares of Zimmer Biomet Holdings in a research note on Tuesday, July 11th. Finally, Canaccord Genuity reiterated a “buy” rating and set a $141.00 price target on shares of Zimmer Biomet Holdings in a research note on Friday, July 14th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $136.55.
Shares of Zimmer Biomet Holdings (ZBH) traded down 0.09% during mid-day trading on Wednesday, hitting $121.77. 336,269 shares of the company’s stock were exchanged. The company has a market capitalization of $24.62 billion, a price-to-earnings ratio of 34.68 and a beta of 1.19. Zimmer Biomet Holdings has a 52 week low of $95.63 and a 52 week high of $133.49. The firm has a 50 day moving average price of $116.85 and a 200-day moving average price of $120.36.
Several institutional investors have recently added to or reduced their stakes in the stock. Curbstone Financial Management Corp raised its holdings in shares of Zimmer Biomet Holdings by 162.8% in the third quarter. Curbstone Financial Management Corp now owns 4,686 shares of the medical equipment provider’s stock valued at $549,000 after buying an additional 2,903 shares during the last quarter. Lord Abbett & CO. LLC raised its holdings in shares of Zimmer Biomet Holdings by 2.8% in the second quarter. Lord Abbett & CO. LLC now owns 43,400 shares of the medical equipment provider’s stock valued at $5,573,000 after buying an additional 1,200 shares during the last quarter. United Bank VA bought a new position in shares of Zimmer Biomet Holdings in the second quarter valued at about $2,131,000. WFG Advisors LP raised its holdings in shares of Zimmer Biomet Holdings by 46,690.0% in the second quarter. WFG Advisors LP now owns 4,679 shares of the medical equipment provider’s stock valued at $601,000 after buying an additional 4,669 shares during the last quarter. Finally, Toronto Dominion Bank raised its holdings in shares of Zimmer Biomet Holdings by 25.6% in the second quarter. Toronto Dominion Bank now owns 68,154 shares of the medical equipment provider’s stock valued at $8,749,000 after buying an additional 13,891 shares during the last quarter. 85.22% of the stock is owned by institutional investors and hedge funds.
In related news, VP Tony W. Collins sold 16,986 shares of Zimmer Biomet Holdings stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $121.74, for a total value of $2,067,875.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.07% of the company’s stock.
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 27th. Investors of record on Friday, September 22nd will be issued a $0.24 dividend. The ex-dividend date is Thursday, September 21st. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.79%. Zimmer Biomet Holdings’s dividend payout ratio is 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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