Q4 2016 EPS Estimates for Zimmer Biomet Holdings Inc. Lowered by SunTrust Banks (ZBH)
Zimmer Biomet Holdings Inc. (NYSE:ZBH) – Equities researchers at SunTrust Banks lowered their Q4 2016 earnings estimates for shares of Zimmer Biomet Holdings in a research note issued to investors on Sunday. SunTrust Banks analyst B. Nudell now anticipates that the firm will post earnings per share of $2.12 for the quarter, down from their previous forecast of $2.16. SunTrust Banks currently has a “Buy” rating and a $155.00 price objective on the stock. SunTrust Banks also issued estimates for Zimmer Biomet Holdings’ FY2017 earnings at $8.63 EPS, FY2018 earnings at $9.46 EPS, FY2019 earnings at $10.31 EPS and FY2020 earnings at $11.10 EPS.
Zimmer Biomet Holdings (NYSE:ZBH) last released its earnings results on Monday, October 31st. The company reported $1.79 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $1.79. The company had revenue of $1.83 billion for the quarter, compared to analyst estimates of $950.20 million. Zimmer Biomet Holdings had a net margin of 3.46% and a return on equity of 16.48%. The firm’s quarterly revenue was up 4.0% on a year-over-year basis. During the same period in the prior year, the firm earned $1.64 EPS.
A number of other research firms have also issued reports on ZBH. Royal Bank Of Canada lowered their target price on Zimmer Biomet Holdings from $143.00 to $130.00 and set an “outperform” rating on the stock in a report on Tuesday, November 1st. Northcoast Research lowered Zimmer Biomet Holdings from a “buy” rating to a “neutral” rating in a report on Tuesday, November 8th. RBC Capital Markets set a $143.00 target price on Zimmer Biomet Holdings and gave the stock a “buy” rating in a report on Wednesday, September 14th. Barclays PLC lifted their target price on Zimmer Biomet Holdings from $140.00 to $145.00 and gave the stock an “overweight” rating in a report on Tuesday, August 23rd. Finally, Argus reaffirmed a “buy” rating and set a $140.00 target price on shares of Zimmer Biomet Holdings in a report on Thursday, September 22nd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $131.15.
Zimmer Biomet Holdings (NYSE:ZBH) opened at 101.45 on Tuesday. Zimmer Biomet Holdings has a 12-month low of $88.27 and a 12-month high of $133.21. The firm has a 50-day moving average of $119.08 and a 200-day moving average of $122.44. The stock has a market capitalization of $20.32 billion, a price-to-earnings ratio of 56.80 and a beta of 1.28.
The firm also recently declared a quarterly dividend, which was paid on Friday, October 28th. Stockholders of record on Friday, September 23rd were issued a dividend of $0.24 per share. The ex-dividend date was Wednesday, September 21st. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.95%. Zimmer Biomet Holdings’s dividend payout ratio (DPR) is presently 75.00%.
In other news, insider Stuart G. Kleopfer sold 3,397 shares of the business’s stock in a transaction that occurred on Tuesday, August 23rd. The stock was sold at an average price of $129.71, for a total transaction of $440,624.87. Following the sale, the insider now directly owns 3,000 shares in the company, valued at $389,130. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Daniel E. Williamson sold 2,716 shares of the business’s stock in a transaction that occurred on Thursday, September 8th. The shares were sold at an average price of $129.96, for a total value of $352,971.36. Following the sale, the insider now owns 2,000 shares in the company, valued at $259,920. The disclosure for this sale can be found here. Insiders own 1.22% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in the stock. Atalanta Sosnoff Capital LLC purchased a new stake in Zimmer Biomet Holdings during the second quarter worth about $42,984,000. Retirement Systems of Alabama boosted its stake in Zimmer Biomet Holdings by 9.0% in the second quarter. Retirement Systems of Alabama now owns 99,636 shares of the company’s stock worth $11,994,000 after buying an additional 8,258 shares in the last quarter. Commerce Bank boosted its stake in Zimmer Biomet Holdings by 547.5% in the second quarter. Commerce Bank now owns 185,086 shares of the company’s stock worth $22,281,000 after buying an additional 156,501 shares in the last quarter. California State Teachers Retirement System boosted its stake in Zimmer Biomet Holdings by 6.6% in the second quarter. California State Teachers Retirement System now owns 396,264 shares of the company’s stock worth $47,702,000 after buying an additional 24,592 shares in the last quarter. Finally, Eqis Capital Management Inc. boosted its stake in Zimmer Biomet Holdings by 11.8% in the second quarter. Eqis Capital Management Inc. now owns 11,216 shares of the company’s stock worth $1,350,000 after buying an additional 1,181 shares in the last quarter. Institutional investors and hedge funds own 88.74% of the company’s stock.
About Zimmer Biomet Holdings
Zimmer Biomet Holdings, Inc, formerly Zimmer Holdings, Inc, is engaged designing, manufacturing and marketing orthopaedic reconstructive products; sports medicine, biologics, extremities and trauma products; spine, bone healing, craniomaxillofacial and thoracic products; dental implants, and related surgical products.
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