$1.60 Earnings Per Share Expected for Zimmer Biomet Holdings Inc (ZBH) This Quarter

Equities research analysts expect that Zimmer Biomet Holdings Inc (NYSE:ZBH) will post earnings per share of $1.60 for the current fiscal quarter, according to Zacks. Eleven analysts have provided estimates for Zimmer Biomet’s earnings, with the highest EPS estimate coming in at $1.67 and the lowest estimate coming in at $1.56. Zimmer Biomet posted earnings of $1.72 per share in the same quarter last year, which would indicate a negative year-over-year growth rate of 7%. The business is expected to issue its next quarterly earnings report before the market opens on Friday, October 26th.

According to Zacks, analysts expect that Zimmer Biomet will report full-year earnings of $7.66 per share for the current financial year, with EPS estimates ranging from $7.60 to $7.73. For the next financial year, analysts expect that the company will report earnings of $7.95 per share, with EPS estimates ranging from $7.90 to $8.04. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research analysts that follow Zimmer Biomet.

Zimmer Biomet (NYSE:ZBH) last announced its quarterly earnings results on Friday, July 27th. The medical equipment provider reported $1.92 earnings per share for the quarter, topping analysts’ consensus estimates of $1.88 by $0.04. The firm had revenue of $2.01 billion for the quarter, compared to the consensus estimate of $1.99 billion. Zimmer Biomet had a return on equity of 13.53% and a net margin of 21.67%. The business’s revenue was up 3.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.08 earnings per share.

A number of brokerages have weighed in on ZBH. Zacks Investment Research downgraded Zimmer Biomet from a “hold” rating to a “sell” rating in a research report on Monday, July 2nd. Morgan Stanley boosted their price target on Zimmer Biomet from $140.00 to $149.00 and gave the stock an “overweight” rating in a research report on Thursday, October 11th. Piper Jaffray Companies boosted their price target on Zimmer Biomet from $110.00 to $120.00 and gave the stock a “neutral” rating in a research report on Monday, July 30th. Oppenheimer restated a “buy” rating and set a $138.00 price objective (up previously from $130.00) on shares of Zimmer Biomet in a report on Friday, July 27th. Finally, Raymond James boosted their price objective on Zimmer Biomet from $135.00 to $145.00 and gave the stock an “outperform” rating in a report on Monday, July 30th. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and fifteen have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $135.33.

Shares of NYSE ZBH opened at $126.32 on Tuesday. The company has a market cap of $26.75 billion, a price-to-earnings ratio of 15.73, a price-to-earnings-growth ratio of 2.41 and a beta of 1.08. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.25 and a current ratio of 2.41. Zimmer Biomet has a twelve month low of $104.28 and a twelve month high of $134.55.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 31st. Stockholders of record on Friday, September 28th will be issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.76%. The ex-dividend date is Thursday, September 27th. Zimmer Biomet’s dividend payout ratio is presently 11.96%.

In related news, CEO Bryan C. Hanson purchased 410 shares of the business’s stock in a transaction that occurred on Friday, August 31st. The stock was acquired at an average cost of $123.03 per share, for a total transaction of $50,442.30. Following the completion of the purchase, the chief executive officer now owns 25,487 shares in the company, valued at approximately $3,135,665.61. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Chad F. Phipps sold 30,100 shares of the business’s stock in a transaction that occurred on Friday, September 21st. The shares were sold at an average price of $132.37, for a total value of $3,984,337.00. The disclosure for this sale can be found here. Insiders own 0.71% of the company’s stock.

Several hedge funds have recently modified their holdings of ZBH. Fred Alger Management Inc. boosted its stake in shares of Zimmer Biomet by 48.6% in the second quarter. Fred Alger Management Inc. now owns 1,194,763 shares of the medical equipment provider’s stock valued at $133,144,000 after buying an additional 390,517 shares during the period. Renaissance Technologies LLC boosted its stake in shares of Zimmer Biomet by 96.7% in the second quarter. Renaissance Technologies LLC now owns 596,000 shares of the medical equipment provider’s stock valued at $66,418,000 after buying an additional 293,000 shares during the period. State of New Jersey Common Pension Fund D boosted its stake in shares of Zimmer Biomet by 423.0% in the second quarter. State of New Jersey Common Pension Fund D now owns 316,397 shares of the medical equipment provider’s stock valued at $35,259,000 after buying an additional 255,897 shares during the period. Voya Investment Management LLC boosted its stake in shares of Zimmer Biomet by 246.5% in the second quarter. Voya Investment Management LLC now owns 358,559 shares of the medical equipment provider’s stock valued at $39,958,000 after buying an additional 255,088 shares during the period. Finally, Morgan Stanley boosted its stake in shares of Zimmer Biomet by 19.4% in the second quarter. Morgan Stanley now owns 1,040,927 shares of the medical equipment provider’s stock valued at $116,000,000 after buying an additional 168,807 shares during the period. Institutional investors and hedge funds own 87.18% of the company’s stock.

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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