Zacks: Analysts Anticipate Zimmer Biomet Holdings, Inc. (NYSE:ZBH) Will Post Quarterly Sales of $1.60 Billion

Equities research analysts expect Zimmer Biomet Holdings, Inc. (NYSE:ZBH – Get Rating) to post sales of $1.60 billion for the current fiscal quarter, according to Zacks Investment Research. Ten analysts have made estimates for Zimmer Biomet’s earnings, with the highest sales estimate coming in at $1.66 billion and the lowest estimate coming in at $1.56 billion. Zimmer Biomet posted sales of $1.85 billion in the same quarter last year, which would indicate a negative year over year growth rate of 13.5%. The company is scheduled to announce its next earnings results on Monday, January 1st.

On average, analysts expect that Zimmer Biomet will report full-year sales of $6.74 billion for the current year, with estimates ranging from $6.62 billion to $6.85 billion. For the next financial year, analysts expect that the firm will report sales of $7.02 billion, with estimates ranging from $6.96 billion to $7.10 billion. Zacks’ sales averages are an average based on a survey of analysts that cover Zimmer Biomet.

Zimmer Biomet (NYSE:ZBH – Get Rating) last announced its quarterly earnings results on Tuesday, May 3rd. The medical equipment provider reported $1.61 earnings per share for the quarter, beating analysts’ consensus estimates of $1.40 by $0.21. The business had revenue of $1.66 billion for the quarter, compared to the consensus estimate of $1.59 billion. Zimmer Biomet had a net margin of 5.12% and a return on equity of 12.30%. Zimmer Biomet’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same period last year, the company posted $1.71 EPS.

ZBH has been the topic of a number of analyst reports. UBS Group downgraded shares of Zimmer Biomet from a “buy” rating to a “neutral” rating and cut their price target for the company from $172.00 to $130.00 in a research report on Wednesday, February 2nd. Canaccord Genuity Group downgraded shares of Zimmer Biomet from a “buy” rating to a “hold” rating and dropped their target price for the stock from $165.00 to $125.00 in a report on Tuesday, February 8th. Needham & Company LLC dropped their target price on shares of Zimmer Biomet from $155.00 to $143.00 and set a “buy” rating on the stock in a report on Tuesday, February 8th. Loop Capital downgraded shares of Zimmer Biomet from a “buy” rating to a “hold” rating and set a $130.00 target price on the stock. in a report on Wednesday, March 2nd. Finally, JMP Securities dropped their target price on shares of Zimmer Biomet from $175.00 to $145.00 and set an “outperform” rating on the stock in a report on Tuesday, February 8th. Two research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, Zimmer Biomet presently has a consensus rating of “Hold” and a consensus target price of $144.00.

Shares of NYSE:ZBH opened at $120.68 on Wednesday. The company has a market capitalization of $25.26 billion, a price-to-earnings ratio of 63.52, a P/E/G ratio of 3.17 and a beta of 1.16. The firm’s 50 day simple moving average is $124.27 and its 200 day simple moving average is $127.10. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.41 and a quick ratio of 0.72. Zimmer Biomet has a fifty-two week low of $108.47 and a fifty-two week high of $176.06.

The company also recently announced a quarterly dividend, which was paid on Friday, April 29th. Investors of record on Tuesday, March 29th were paid a $0.24 dividend. The ex-dividend date of this dividend was Monday, March 28th. This represents a $0.96 annualized dividend and a dividend yield of 0.80%. Zimmer Biomet’s dividend payout ratio is presently 50.53%.

In related news, VP Chad F. Phipps sold 35,149 shares of the firm’s stock in a transaction on Thursday, March 17th. The shares were sold at an average price of $121.97, for a total value of $4,287,123.53. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.73% of the stock is currently owned by company insiders.

A number of hedge funds have recently added to or reduced their stakes in ZBH. Amplius Wealth Advisors LLC bought a new position in Zimmer Biomet during the fourth quarter worth $26,000. Cyrus J. Lawrence LLC bought a new position in Zimmer Biomet during the first quarter worth $27,000. Widmann Financial Services Inc. bought a new position in Zimmer Biomet during the fourth quarter worth $28,000. HHM Wealth Advisors LLC boosted its position in Zimmer Biomet by 84.0% during the first quarter. HHM Wealth Advisors LLC now owns 219 shares of the medical equipment provider’s stock worth $28,000 after purchasing an additional 100 shares during the period. Finally, FSB Premier Wealth Management Inc. bought a new stake in shares of Zimmer Biomet in the fourth quarter valued at about $33,000. 90.34% of the stock is owned by hedge funds and other institutional investors.

Zimmer Biomet Company Profile (Get Rating)

Zimmer Biomet Holdings, Inc, together with its subsidiaries, operates in the musculoskeletal healthcare business in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company designs, manufactures, and markets orthopaedic reconstructive products, such as knee and hip products; S.E.T.

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