Zimmer Biomet (NYSE:ZBH)‘s stock had its “hold” rating reiterated by research analysts at BTIG Research in a note issued to investors on Sunday, October 28th.
The analysts wrote, “an easy comp led us to believe that 3Q results were beatable. While top-line fell in-line with the Street and EPS was 3 cents higher (which would have satisfied investors in our view), sentiment was hampered by commentary related to FY19 (specifically ongoing margin pressures and lost sales from ZBH’s distribution agreement with BONESUPPORT (BONEX-OM, Not Rated)). Underlying rev. growth of 2.0% Y/Y improved Y/Y (helped by 3Q tenders, ~40bps by our est.) and while GMs were soft (as expected in 3Q), mgmt. commentary indicates ongoing margin pressure into FY19 along with increasing Fx headwinds. Collectively headwinds will lower EPS by $0.15 in FY19, offset by a lower interest expense and tax rate.””
Other equities research analysts have also issued research reports about the company. Jefferies Financial Group upped their target price on Zimmer Biomet to $145.00 and gave the company a “buy” rating in a research note on Monday, July 30th. Oppenheimer reaffirmed a “buy” rating and issued a $138.00 target price (up previously from $130.00) on shares of Zimmer Biomet in a research note on Friday, July 27th. Needham & Company LLC lowered Zimmer Biomet from a “strong-buy” rating to a “buy” rating and set a $150.00 target price on the stock. in a research note on Monday, August 13th. Cantor Fitzgerald reaffirmed a “buy” rating and issued a $150.00 target price on shares of Zimmer Biomet in a research note on Monday, August 27th. Finally, Canaccord Genuity boosted their price target on Zimmer Biomet from $122.00 to $125.00 and gave the company a “hold” rating in a report on Monday, July 30th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and twelve have given a buy rating to the stock. Zimmer Biomet has an average rating of “Hold” and a consensus price target of $134.63.
ZBH stock traded up $0.29 on Friday, reaching $112.69. The company had a trading volume of 705,179 shares, compared to its average volume of 1,290,333. Zimmer Biomet has a 1 year low of $104.28 and a 1 year high of $134.55. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.96 and a current ratio of 1.89. The firm has a market cap of $22.93 billion, a P/E ratio of 14.03, a PEG ratio of 2.28 and a beta of 1.16.
Zimmer Biomet (NYSE:ZBH) last posted its earnings results on Friday, October 26th. The medical equipment provider reported $1.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.60 by $0.03. Zimmer Biomet had a return on equity of 12.88% and a net margin of 22.42%. The firm had revenue of $1.84 billion for the quarter, compared to analyst estimates of $1.84 billion. During the same quarter in the prior year, the company earned $1.72 EPS. Zimmer Biomet’s revenue was up 1.3% on a year-over-year basis. On average, research analysts predict that Zimmer Biomet will post 7.65 earnings per share for the current year.
In other news, VP Chad F. Phipps sold 30,100 shares of the company’s stock in a transaction on Friday, September 21st. The stock was sold at an average price of $132.37, for a total transaction of $3,984,337.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Bryan C. Hanson acquired 410 shares of the company’s stock in a transaction dated Friday, August 31st. The shares were purchased at an average price of $123.03 per share, with a total value of $50,442.30. Following the completion of the acquisition, the chief executive officer now owns 25,487 shares in the company, valued at $3,135,665.61. The disclosure for this purchase can be found here. Corporate insiders own 0.71% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the company. Legal & General Group Plc increased its holdings in Zimmer Biomet by 5.9% in the 3rd quarter. Legal & General Group Plc now owns 1,041,748 shares of the medical equipment provider’s stock valued at $136,922,000 after purchasing an additional 58,022 shares in the last quarter. Kepos Capital LP increased its holdings in Zimmer Biomet by 14.3% in the 3rd quarter. Kepos Capital LP now owns 49,805 shares of the medical equipment provider’s stock valued at $6,548,000 after purchasing an additional 6,231 shares in the last quarter. Rehmann Capital Advisory Group increased its holdings in Zimmer Biomet by 14,438.4% in the 3rd quarter. Rehmann Capital Advisory Group now owns 52,193 shares of the medical equipment provider’s stock valued at $397,000 after purchasing an additional 51,834 shares in the last quarter. TIAA CREF Investment Management LLC increased its holdings in Zimmer Biomet by 9.7% in the 3rd quarter. TIAA CREF Investment Management LLC now owns 2,690,018 shares of the medical equipment provider’s stock valued at $353,657,000 after purchasing an additional 238,182 shares in the last quarter. Finally, Teachers Advisors LLC increased its holdings in Zimmer Biomet by 20.7% in the 3rd quarter. Teachers Advisors LLC now owns 1,336,728 shares of the medical equipment provider’s stock valued at $175,740,000 after purchasing an additional 229,201 shares in the last quarter. Institutional investors and hedge funds own 87.10% 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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