Northcoast Research Comments on Zimmer Biomet Holdings, Inc.’s Q3 2017 Earnings (ZBH)

Zimmer Biomet Holdings, Inc. (NYSE:ZBH) – Research analysts at Northcoast Research decreased their Q3 2017 earnings estimates for Zimmer Biomet Holdings in a note issued to investors on Monday. Northcoast Research analyst D. Keiser now forecasts that the medical equipment provider will post earnings of $1.77 per share for the quarter, down from their prior estimate of $1.89. Northcoast Research also issued estimates for Zimmer Biomet Holdings’ FY2017 earnings at $8.30 EPS, Q2 2018 earnings at $2.26 EPS, Q3 2018 earnings at $1.97 EPS, Q4 2018 earnings at $2.51 EPS and FY2018 earnings at $8.97 EPS.

Zimmer Biomet Holdings (NYSE:ZBH) last announced its quarterly earnings results on Thursday, July 27th. The medical equipment provider reported $2.08 earnings per share for the quarter, missing the consensus estimate of $2.10 by $0.02. Zimmer Biomet Holdings had a return on equity of 16.70% and a net margin of 9.12%. The business had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $1.95 billion. During the same quarter in the prior year, the firm posted $2.02 EPS. The company’s revenue for the quarter was up 1.1% on a year-over-year basis.

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Several other research analysts also recently commented on ZBH. Zacks Investment Research downgraded Zimmer Biomet Holdings from a “hold” rating to a “sell” rating in a research note on Tuesday, April 4th. Wells Fargo & Company downgraded Zimmer Biomet Holdings from an “outperform” rating to a “market perform” rating in a research note on Friday, April 28th. Needham & Company LLC increased their price objective on Zimmer Biomet Holdings from $151.00 to $153.00 and gave the company a “strong-buy” rating in a research note on Friday, April 28th. Oppenheimer Holdings, Inc. set a $132.00 price objective on Zimmer Biomet Holdings and gave the company a “buy” rating in a research note on Friday, April 28th. Finally, Canaccord Genuity reissued a “buy” rating on shares of Zimmer Biomet Holdings in a research note on Friday, April 28th. Four investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $137.76.

Shares of Zimmer Biomet Holdings (NYSE:ZBH) opened at 121.32 on Tuesday. Zimmer Biomet Holdings has a 12 month low of $95.63 and a 12 month high of $133.49. The company has a 50-day moving average of $127.79 and a 200 day moving average of $121.35. The company has a market cap of $24.48 billion, a PE ratio of 34.55 and a beta of 1.21.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 28th. Investors of record on Friday, June 23rd were given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.79%. The ex-dividend date of this dividend was Wednesday, June 21st. Zimmer Biomet Holdings’s payout ratio is 27.59%.

In related news, insider Sang Yi sold 17,731 shares of the firm’s 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Chad F. Phipps sold 6,200 shares of the firm’s stock in a transaction dated Friday, May 5th. The stock was sold at an average price of $116.76, for a total value of $723,912.00. The disclosure for this sale can be found here. 1.07% of the stock is currently owned by company insiders.

Several hedge funds have recently modified their holdings of ZBH. Parkside Financial Bank & Trust increased its stake in Zimmer Biomet Holdings by 2.7% in the first quarter. Parkside Financial Bank & Trust now owns 839 shares of the medical equipment provider’s stock valued at $102,000 after buying an additional 22 shares during the period. Parallel Advisors LLC increased its stake in Zimmer Biomet Holdings by 20.8% in the first quarter. Parallel Advisors LLC now owns 1,157 shares of the medical equipment provider’s stock valued at $138,000 after buying an additional 199 shares during the period. IHT Wealth Management LLC increased its stake in Zimmer Biomet Holdings by 28.4% in the first quarter. IHT Wealth Management LLC now owns 1,158 shares of the medical equipment provider’s stock valued at $139,000 after buying an additional 256 shares during the period. Sandy Spring Bank increased its stake in Zimmer Biomet Holdings by 1.7% in the first quarter. Sandy Spring Bank now owns 1,222 shares of the medical equipment provider’s stock valued at $149,000 after buying an additional 20 shares during the period. Finally, Penserra Capital Management LLC increased its stake in Zimmer Biomet Holdings by 9.5% in the first quarter. Penserra Capital Management LLC now owns 1,288 shares of the medical equipment provider’s stock valued at $157,000 after buying an additional 112 shares during the period. 84.13% of the stock is owned by hedge funds and other institutional investors.

Zimmer Biomet Holdings Company Profile

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.

Earnings History and Estimates for Zimmer Biomet Holdings (NYSE:ZBH)

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