Zimmer Biomet (NYSE:ZBH) Announces Earnings Results, Beats Estimates By $0.21 EPS

Zimmer Biomet (NYSE:ZBHGet Rating) posted its quarterly earnings results on Tuesday. The medical equipment provider reported $1.61 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.40 by $0.21, MarketWatch Earnings reports. Zimmer Biomet had a return on equity of 12.30% and a net margin of 5.12%. The company had revenue of $1.66 billion for the quarter, compared to analysts’ expectations of $1.59 billion. During the same period last year, the firm earned $1.71 earnings per share. Zimmer Biomet’s quarterly revenue was up 3.9% on a year-over-year basis. Zimmer Biomet updated its FY22 guidance to $6.65-6.85 EPS.

Shares of ZBH stock traded up $2.55 during trading hours on Tuesday, hitting $123.20. 45,145 shares of the company were exchanged, compared to its average volume of 1,305,050. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.72 and a current ratio of 1.41. Zimmer Biomet has a one year low of $108.47 and a one year high of $178.76. The business’s 50-day simple moving average is $124.31 and its two-hundred day simple moving average is $127.14. The stock has a market capitalization of $25.79 billion, a price-to-earnings ratio of 63.50, a P/E/G ratio of 3.17 and a beta of 1.16.

The business also recently declared a quarterly dividend, which was paid on Friday, April 29th. Stockholders of record on Tuesday, March 29th were given a dividend of $0.24 per share. The ex-dividend date was Monday, March 28th. This represents a $0.96 annualized dividend and a dividend yield of 0.78%. Zimmer Biomet’s payout ratio is 50.53%.

A number of analysts have weighed in on the company. JMP Securities cut their price target on Zimmer Biomet from $175.00 to $145.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 8th. Canaccord Genuity Group cut Zimmer Biomet from a “buy” rating to a “hold” rating and cut their price target for the company from $165.00 to $125.00 in a research note on Tuesday, February 8th. StockNews.com cut Zimmer Biomet from a “buy” rating to a “hold” rating in a research report on Friday, April 8th. Zacks Investment Research upgraded Zimmer Biomet from a “sell” rating to a “hold” rating and set a $133.00 target price on the stock in a research report on Wednesday, April 13th. Finally, UBS Group cut Zimmer Biomet from a “buy” rating to a “neutral” rating and cut their target price for the stock from $172.00 to $130.00 in a research report on Wednesday, February 2nd. Two investment analysts have rated the stock with a sell rating, sixteen have given a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $143.58.

In other Zimmer Biomet news, VP Chad F. Phipps sold 35,149 shares of the firm’s stock in a transaction that occurred 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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.73% of the company’s stock.

Several large investors have recently made changes to their positions in the business. Allstate Corp increased its stake in shares of Zimmer Biomet by 8.6% in the fourth quarter. Allstate Corp now owns 6,310 shares of the medical equipment provider’s stock valued at $802,000 after purchasing an additional 501 shares during the period. Peapack Gladstone Financial Corp increased its stake in shares of Zimmer Biomet by 13.1% during the fourth quarter. Peapack Gladstone Financial Corp now owns 6,231 shares of the medical equipment provider’s stock valued at $792,000 after acquiring an additional 721 shares during the period. JustInvest LLC increased its stake in shares of Zimmer Biomet by 30.0% during the fourth quarter. JustInvest LLC now owns 4,666 shares of the medical equipment provider’s stock valued at $593,000 after acquiring an additional 1,078 shares during the period. Glenmede Trust Co. NA increased its stake in shares of Zimmer Biomet by 4.1% during the fourth quarter. Glenmede Trust Co. NA now owns 28,950 shares of the medical equipment provider’s stock valued at $3,677,000 after acquiring an additional 1,128 shares during the period. Finally, CIBC World Markets Inc. increased its stake in shares of Zimmer Biomet by 57.9% during the fourth quarter. CIBC World Markets Inc. now owns 3,483 shares of the medical equipment provider’s stock valued at $442,000 after acquiring an additional 1,277 shares during the period. Institutional investors own 90.34% of the company’s stock.

About Zimmer Biomet (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 for Zimmer Biomet (NYSE:ZBH)

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