Zacks: Brokerages Anticipate Zimmer Biomet Holdings, Inc. (NYSE:ZBH) Will Post Quarterly Sales of $1.62 Billion

Equities research analysts predict that Zimmer Biomet Holdings, Inc. (NYSE:ZBHGet Rating) will announce $1.62 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Ten analysts have provided estimates for Zimmer Biomet’s earnings. The highest sales estimate is $1.86 billion and the lowest is $1.55 billion. Zimmer Biomet reported sales of $1.85 billion during the same quarter last year, which would suggest a negative year over year growth rate of 12.4%. The firm is scheduled to report its next earnings results before the market opens on Monday, January 1st.

On average, analysts expect that Zimmer Biomet will report full year sales of $6.73 billion for the current fiscal year, with estimates ranging from $6.63 billion to $6.85 billion. For the next year, analysts anticipate that the firm will post sales of $7.01 billion, with estimates ranging from $6.95 billion to $7.07 billion. Zacks Investment Research’s sales averages are an average based on a survey of analysts that follow Zimmer Biomet.

Zimmer Biomet (NYSE:ZBHGet Rating) last announced its earnings results on Monday, February 7th. The medical equipment provider reported $1.95 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.98 by ($0.03). Zimmer Biomet had a net margin of 5.12% and a return on equity of 12.30%. The business had revenue of $2.04 billion for the quarter, compared to analysts’ expectations of $2.07 billion. During the same quarter last year, the firm earned $2.11 EPS. The firm’s quarterly revenue was down 2.3% on a year-over-year basis.

ZBH has been the subject of several recent analyst reports. JPMorgan Chase & Co. dropped their target price on Zimmer Biomet from $150.00 to $114.00 and set a “neutral” rating for the company in a research report on Tuesday, February 8th. BTIG Research lowered Zimmer Biomet from a “buy” rating to a “neutral” rating in a research report on Monday, January 10th. JMP Securities dropped their target price on Zimmer Biomet from $175.00 to $145.00 and set an “outperform” rating for the company in a research report on Tuesday, February 8th. Piper Sandler lowered their price target on Zimmer Biomet from $135.00 to $110.00 in a report on Monday, February 7th. Finally, Stifel Nicolaus lowered their price target on Zimmer Biomet from $178.00 to $130.00 and set a “buy” rating for the company in a report on Tuesday, February 8th. Two investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $146.04.

Shares of NYSE:ZBH opened at $126.90 on Tuesday. Zimmer Biomet has a 1 year low of $108.47 and a 1 year high of $180.36. The business has a 50 day simple moving average of $122.40 and a two-hundred day simple moving average of $129.31. The firm has a market capitalization of $26.56 billion, a PE ratio of 66.79, a price-to-earnings-growth ratio of 3.39 and a beta of 1.20. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.41 and a quick ratio of 0.72.

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 29th. Stockholders of record on Tuesday, March 29th will be given 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 Monday, March 28th. Zimmer Biomet’s payout ratio is presently 50.53%.

In other news, VP Chad F. Phipps sold 35,149 shares of the company’s stock in a transaction on Thursday, March 17th. The stock was sold at an average price of $121.97, for a total transaction of $4,287,123.53. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.56% of the company’s stock.

Several hedge funds have recently modified their holdings of the company. Old North State Trust LLC raised its holdings in Zimmer Biomet by 13.1% in the 3rd quarter. Old North State Trust LLC now owns 647 shares of the medical equipment provider’s stock valued at $95,000 after acquiring an additional 75 shares during the last quarter. Donaldson Capital Management LLC raised its holdings in Zimmer Biomet by 5.2% in the 4th quarter. Donaldson Capital Management LLC now owns 1,655 shares of the medical equipment provider’s stock valued at $210,000 after acquiring an additional 82 shares during the last quarter. Clean Yield Group raised its holdings in Zimmer Biomet by 19.6% in the 3rd quarter. Clean Yield Group now owns 507 shares of the medical equipment provider’s stock valued at $74,000 after acquiring an additional 83 shares during the last quarter. Checchi Capital Advisers LLC raised its holdings in Zimmer Biomet by 6.3% in the 3rd quarter. Checchi Capital Advisers LLC now owns 1,437 shares of the medical equipment provider’s stock valued at $210,000 after acquiring an additional 85 shares during the last quarter. Finally, Centaurus Financial Inc. increased its holdings in shares of Zimmer Biomet by 4.0% during the 3rd quarter. Centaurus Financial Inc. now owns 2,251 shares of the medical equipment provider’s stock worth $329,000 after buying an additional 87 shares during the last quarter. 89.02% of the stock is currently owned by institutional investors and hedge funds.

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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Earnings History and Estimates for Zimmer Biomet (NYSE:ZBH)

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