Zimmer Biomet Holdings, Inc. (NYSE:ZBH) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a report issued on Monday.
According to Zacks, “Zimmer Biomet ended the third quarter 2017 on a dismal note with earnings below the Zacks Consensus Estimate and revenues in line with the same. Sales were declining within most of the core segments primarily due to the slower pace of supply recovery and sales recapture of certain key brands particularly in the United States and softened domestic market conditions. The lowered 2017 guidance also added to our concerns indicating little chances of recovery ahead. Over, the last three months, the company has been observed to trade below the broader industry. Nevertheless, we look forward to the expected synergy from the LDR Holding acquisition, which should broaden and complement the company's musculoskeletal offering. We are also impressed by the strong strategic and financial goals which the combined entity expects to reach, now that the deal has been closed.”
Several other research firms have also issued reports on ZBH. BidaskClub lowered Zimmer Biomet Holdings from a “buy” rating to a “hold” rating in a research note on Monday, July 24th. SunTrust Banks, Inc. set a $136.00 target price on Zimmer Biomet Holdings and gave the stock a “buy” rating in a research note on Wednesday, November 1st. Canaccord Genuity lowered Zimmer Biomet Holdings from a “buy” rating to a “hold” rating and lowered their target price for the stock from $141.00 to $135.00 in a research note on Friday, July 28th. Piper Jaffray Companies reiterated a “buy” rating and set a $135.00 target price on shares of Zimmer Biomet Holdings in a research note on Friday, July 28th. Finally, Leerink Swann increased their target price on Zimmer Biomet Holdings from $141.00 to $146.00 and gave the stock an “outperform” rating in a research note on Friday, July 28th. Four analysts have rated the stock with a sell rating, seven have issued a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $133.71.
Shares of Zimmer Biomet Holdings (ZBH) opened at $111.61 on Monday. The company has a market capitalization of $22,600.00, a PE ratio of 13.83, a P/E/G ratio of 1.73 and a beta of 1.17. The company has a quick ratio of 0.78, a current ratio of 1.47 and a debt-to-equity ratio of 0.88. Zimmer Biomet Holdings has a fifty-two week low of $98.20 and a fifty-two week high of $133.49.
Zimmer Biomet Holdings (NYSE:ZBH) last released its quarterly earnings data on Wednesday, November 1st. The medical equipment provider reported $1.72 EPS for the quarter, missing analysts’ consensus estimates of $1.74 by ($0.02). The company had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.83 billion. Zimmer Biomet Holdings had a net margin of 8.36% and a return on equity of 16.29%. The company’s revenue for the quarter was down .8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.79 EPS. equities analysts expect that Zimmer Biomet Holdings will post 8.03 EPS for the current fiscal year.
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Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bronfman E.L. Rothschild L.P. boosted its holdings in shares of Zimmer Biomet Holdings by 25.3% during the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 827 shares of the medical equipment provider’s stock valued at $106,000 after acquiring an additional 167 shares in the last quarter. Parkside Financial Bank & Trust boosted its holdings in shares of Zimmer Biomet Holdings by 3.9% during the 2nd quarter. Parkside Financial Bank & Trust now owns 872 shares of the medical equipment provider’s stock valued at $112,000 after acquiring an additional 33 shares in the last quarter. Bank of Nova Scotia Trust Co. acquired a new stake in shares of Zimmer Biomet Holdings during the 3rd quarter valued at $112,000. FNY Managed Accounts LLC acquired a new stake in shares of Zimmer Biomet Holdings during the 3rd quarter valued at $117,000. Finally, BB&T Investment Services Inc. acquired a new stake in shares of Zimmer Biomet Holdings during the 2nd quarter valued at $144,000. 85.36% of the stock is currently owned by 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.
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