Zimmer Biomet Holdings, Inc. (NYSE:ZBH) – Equities researchers at SVB Leerink upped their Q2 2021 earnings estimates for shares of Zimmer Biomet in a report issued on Tuesday, July 20th. SVB Leerink analyst R. Newitter now anticipates that the medical equipment provider will post earnings per share of $1.86 for the quarter, up from their previous estimate of $1.76. SVB Leerink has a “Outperform” rating and a $205.00 price target on the stock. SVB Leerink also issued estimates for Zimmer Biomet’s Q3 2021 earnings at $1.93 EPS and FY2022 earnings at $8.90 EPS.
A number of other equities research analysts have also weighed in on ZBH. Truist lifted their price objective on Zimmer Biomet from $174.00 to $188.00 in a report on Wednesday, May 5th. Truist Securities lifted their price objective on Zimmer Biomet from $174.00 to $188.00 in a report on Wednesday, May 5th. TheStreet downgraded shares of Zimmer Biomet from a “b-” rating to a “c+” rating in a research report on Monday, March 29th. Raymond James lifted their price target on shares of Zimmer Biomet from $187.00 to $200.00 and gave the company a “strong-buy” rating in a research report on Wednesday, May 5th. Finally, Oppenheimer lifted their price target on shares of Zimmer Biomet from $185.00 to $195.00 and gave the company an “outperform” rating in a research report on Wednesday, May 5th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, fifteen have issued a buy rating and three have issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $179.09.
Zimmer Biomet (NYSE:ZBH) last announced its quarterly earnings data on Monday, May 3rd. The medical equipment provider reported $1.71 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.53 by $0.18. Zimmer Biomet had a return on equity of 9.85% and a net margin of 8.01%. The company had revenue of $1.85 billion for the quarter, compared to analyst estimates of $1.75 billion. During the same quarter in the previous year, the company earned $1.70 EPS. The firm’s revenue for the quarter was up 3.5% compared to the same quarter last year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, July 30th. Shareholders of record on Monday, June 28th will be issued a $0.24 dividend. The ex-dividend date is Friday, June 25th. This represents a $0.96 annualized dividend and a yield of 0.60%. Zimmer Biomet’s dividend payout ratio (DPR) is presently 16.93%.
In other Zimmer Biomet news, Director Arthur J. Higgins purchased 1,000 shares of the business’s stock in a transaction on Thursday, May 6th. The stock was bought at an average cost of $171.58 per share, for a total transaction of $171,580.00. Following the acquisition, the director now owns 3,400 shares of the company’s stock, valued at approximately $583,372. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.56% of the company’s stock.
A number of institutional investors and hedge funds have recently modified their holdings of the business. BlackRock Inc. raised its holdings in Zimmer Biomet by 7.9% in the 1st quarter. BlackRock Inc. now owns 20,926,199 shares of the medical equipment provider’s stock valued at $3,349,866,000 after acquiring an additional 1,530,505 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of Zimmer Biomet by 1.2% during the 1st quarter. JPMorgan Chase & Co. now owns 8,958,072 shares of the medical equipment provider’s stock valued at $1,434,009,000 after buying an additional 107,255 shares during the period. Viking Global Investors LP grew its stake in shares of Zimmer Biomet by 128.8% during the 4th quarter. Viking Global Investors LP now owns 3,867,074 shares of the medical equipment provider’s stock valued at $595,877,000 after buying an additional 2,176,989 shares during the period. Capital International Investors grew its stake in shares of Zimmer Biomet by 90.4% during the 1st quarter. Capital International Investors now owns 3,526,888 shares of the medical equipment provider’s stock valued at $564,584,000 after buying an additional 1,674,113 shares during the period. Finally, Primecap Management Co. CA grew its stake in shares of Zimmer Biomet by 0.7% during the 1st quarter. Primecap Management Co. CA now owns 3,507,810 shares of the medical equipment provider’s stock valued at $561,530,000 after buying an additional 24,610 shares during the period. Institutional investors own 88.34% 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. The company provides orthopaedic reconstructive products, such as knee and hip replacement products; S.E.T.
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