Zimmer Biomet (NYSE:ZBH) – Research analysts at Leerink Swann reduced their FY2019 earnings estimates for shares of Zimmer Biomet in a research note issued to investors on Monday, April 16th. Leerink Swann analyst R. Newitter now expects that the medical equipment provider will earn $8.10 per share for the year, down from their previous forecast of $8.34. Leerink Swann has a “Outperform” rating and a $146.00 price target on the stock.
Other research analysts also recently issued research reports about the company. Morgan Stanley lifted their price objective on Zimmer Biomet from $140.00 to $150.00 in a report on Monday, January 29th. Robert W. Baird reiterated a “buy” rating on shares of Zimmer Biomet in a report on Wednesday, January 31st. BMO Capital Markets reiterated a “buy” rating and issued a $144.00 price objective on shares of Zimmer Biomet in a report on Tuesday, January 30th. Cantor Fitzgerald reiterated a “buy” rating and issued a $140.00 price objective on shares of Zimmer Biomet in a report on Tuesday, January 30th. Finally, SunTrust Banks lifted their price objective on Zimmer Biomet to $142.00 and gave the stock a “buy” rating in a report on Monday, January 29th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $138.80.
Zimmer Biomet (NYSE:ZBH) last released its quarterly earnings results on Tuesday, January 30th. The medical equipment provider reported $2.10 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $2.10. Zimmer Biomet had a return on equity of 15.45% and a net margin of 23.51%. The business had revenue of $2.07 billion for the quarter, compared to the consensus estimate of $2.03 billion. During the same quarter last year, the business posted $2.14 earnings per share. The company’s revenue for the quarter was up 3.0% on a year-over-year basis.
Institutional investors have recently bought and sold shares of the business. Dimensional Fund Advisors LP boosted its position in shares of Zimmer Biomet by 6.1% in the 3rd quarter. Dimensional Fund Advisors LP now owns 831,017 shares of the medical equipment provider’s stock worth $97,283,000 after purchasing an additional 47,979 shares in the last quarter. Vident Investment Advisory LLC bought a new stake in shares of Zimmer Biomet in the 3rd quarter worth approximately $373,000. Janus Henderson Group PLC boosted its position in shares of Zimmer Biomet by 11.5% in the 3rd quarter. Janus Henderson Group PLC now owns 150,886 shares of the medical equipment provider’s stock worth $17,666,000 after purchasing an additional 15,582 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. boosted its position in shares of Zimmer Biomet by 8.8% in the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 12,108 shares of the medical equipment provider’s stock worth $1,418,000 after purchasing an additional 984 shares in the last quarter. Finally, Public Employees Retirement System of Ohio boosted its position in shares of Zimmer Biomet by 1.3% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 86,959 shares of the medical equipment provider’s stock worth $10,182,000 after purchasing an additional 1,131 shares in the last quarter. 86.34% of the stock is currently owned by institutional investors and hedge funds.
In other news, insider Bryan C. Hanson acquired 25,077 shares of the business’s stock in a transaction on Tuesday, February 20th. The shares were acquired at an average cost of $119.68 per share, with a total value of $3,001,215.36. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Chad F. Phipps sold 20,826 shares of Zimmer Biomet stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $115.95, for a total value of $2,414,774.70. The disclosure for this sale can be found here. 0.71% of the stock is owned by company insiders.
The firm also recently announced a quarterly dividend, which will be paid on Monday, April 30th. Investors of record on Thursday, March 29th will be paid a $0.24 dividend. The ex-dividend date is Wednesday, March 28th. This represents a $0.96 annualized dividend and a dividend yield of 0.90%. Zimmer Biomet’s payout ratio is presently 11.96%.
About Zimmer Biomet
Zimmer Biomet Holdings, Inc, together with its subsidiaries, designs, manufactures, and markets musculoskeletal healthcare products and solutions in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. It operates through four segments: Spine, less Asia Pacific; Office Based Technologies; Craniomaxillofacial and Thoracic; and Dental.
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