Wall Street analysts forecast that Zimmer Biomet Holdings, Inc. (NYSE:ZBH) will report sales of $2.03 billion for the current fiscal quarter, Zacks reports. Eleven analysts have made estimates for Zimmer Biomet’s earnings. The lowest sales estimate is $2.01 billion and the highest is $2.04 billion. Zimmer Biomet posted sales of $2.01 billion in the same quarter last year, which would indicate a positive year-over-year growth rate of 1%. The firm is expected to report its next quarterly earnings results on Tuesday, January 30th.
On average, analysts expect that Zimmer Biomet will report full year sales of $2.03 billion for the current year, with estimates ranging from $7.76 billion to $7.83 billion. For the next fiscal year, analysts forecast that the business will post sales of $7.92 billion per share, with estimates ranging from $7.79 billion to $8.04 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow Zimmer Biomet.
Zimmer Biomet (NYSE:ZBH) last posted its quarterly earnings data on Wednesday, November 1st. The medical equipment provider reported $1.72 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.74 by ($0.02). Zimmer Biomet had a net margin of 8.36% and a return on equity of 16.29%. The firm had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.83 billion. During the same period in the prior year, the company posted $1.79 earnings per share. The firm’s revenue for the quarter was down .8% compared to the same quarter last year.
A number of analysts have issued reports on the company. Morgan Stanley cut their target price on Zimmer Biomet from $146.00 to $136.00 and set an “overweight” rating for the company in a research note on Thursday, November 2nd. BMO Capital Markets cut their target price on Zimmer Biomet from $140.00 to $135.00 and set an “outperform” rating for the company in a research note on Thursday, November 2nd. Piper Jaffray Companies downgraded Zimmer Biomet from an “overweight” rating to a “neutral” rating in a research note on Thursday, November 2nd. SunTrust Banks, Inc. set a $136.00 target price on Zimmer Biomet and gave the stock a “buy” rating in a research note on Wednesday, November 1st. Finally, Zacks Investment Research downgraded Zimmer Biomet from a “hold” rating to a “sell” rating in a research note on Tuesday, August 1st. Four equities 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 assigned a strong buy rating to the company. Zimmer Biomet has an average rating of “Hold” and an average target price of $133.71.
Zimmer Biomet (ZBH) traded down $0.03 during midday trading on Friday, reaching $113.07. The company had a trading volume of 289,061 shares, compared to its average volume of 1,510,000. Zimmer Biomet has a 1 year low of $99.11 and a 1 year high of $133.49. The company has a current ratio of 1.47, a quick ratio of 0.78 and a debt-to-equity ratio of 0.88. The firm has a market cap of $22,890.00, a P/E ratio of 14.01, a P/E/G ratio of 1.76 and a beta of 1.17.
Several large investors have recently modified their holdings of ZBH. Terra Nova Asset Management LLC increased its position in shares of Zimmer Biomet by 1.1% during the 2nd quarter. Terra Nova Asset Management LLC now owns 7,474 shares of the medical equipment provider’s stock worth $960,000 after purchasing an additional 79 shares during the last quarter. Rothschild Investment Corp IL increased its position in shares of Zimmer Biomet by 11.3% during the 2nd quarter. Rothschild Investment Corp IL now owns 69,574 shares of the medical equipment provider’s stock worth $8,933,000 after purchasing an additional 7,090 shares during the last quarter. Mitsubishi UFJ Asset Management UK Ltd. acquired a new stake in shares of Zimmer Biomet during the 2nd quarter worth about $1,656,000. Altfest L J & Co. Inc. acquired a new stake in shares of Zimmer Biomet during the 2nd quarter worth about $654,000. Finally, Hermes Investment Management Ltd. acquired a new stake in shares of Zimmer Biomet during the 2nd quarter worth about $611,000. 85.36% of the stock is owned by hedge funds and other institutional investors.
About Zimmer Biomet
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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