Zimmer Biomet (NYSE:ZBH) Announces Quarterly Earnings Results, Beats Estimates By $0.17 EPS

Zimmer Biomet (NYSE:ZBHGet Rating) posted its quarterly earnings data on Tuesday. The medical equipment provider reported $1.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.65 by $0.17, RTT News reports. The company had revenue of $1.78 billion for the quarter, compared to analyst estimates of $1.72 billion. Zimmer Biomet had a net margin of 3.10% and a return on equity of 12.20%. The business’s quarterly revenue was up 1.0% on a year-over-year basis. During the same quarter last year, the firm posted $1.90 earnings per share. Zimmer Biomet updated its FY22 guidance to $6.70-6.90 EPS and its FY 2022 guidance to $6.70-$6.90 EPS.

Zimmer Biomet Stock Performance

Shares of ZBH traded down $2.26 during midday trading on Thursday, hitting $113.35. 831,999 shares of the stock traded hands, compared to its average volume of 1,585,589. Zimmer Biomet has a 1-year low of $100.39 and a 1-year high of $153.76. The firm has a market capitalization of $23.76 billion, a PE ratio of 103.99, a price-to-earnings-growth ratio of 2.60 and a beta of 1.15. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.89 and a current ratio of 1.81. The business’s 50 day moving average price is $109.49 and its two-hundred day moving average price is $117.81.

Zimmer Biomet Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, July 29th. Stockholders of record on Monday, June 27th were issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 0.85%. The ex-dividend date was Friday, June 24th. Zimmer Biomet’s dividend payout ratio (DPR) is 88.07%.

Insider Buying and Selling

In other Zimmer Biomet news, insider Zuilen Wilfred Van sold 531 shares of the business’s stock in a transaction dated Tuesday, July 5th. The shares were sold at an average price of $105.22, for a total value of $55,871.82. Following the sale, the insider now directly owns 2,240 shares in the company, valued at $235,692.80. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.73% of the company’s stock.

Institutional Investors Weigh In On Zimmer Biomet

Several hedge funds and other institutional investors have recently bought and sold shares of ZBH. Fairfield Bush & CO. acquired a new stake in Zimmer Biomet during the 1st quarter worth about $111,000. Covestor Ltd raised its holdings in Zimmer Biomet by 111.4% during the 1st quarter. Covestor Ltd now owns 926 shares of the medical equipment provider’s stock worth $118,000 after buying an additional 488 shares during the period. Parkside Financial Bank & Trust raised its holdings in Zimmer Biomet by 19.1% during the 1st quarter. Parkside Financial Bank & Trust now owns 1,212 shares of the medical equipment provider’s stock worth $155,000 after buying an additional 194 shares during the period. Williams Jones Wealth Management LLC. acquired a new stake in Zimmer Biomet during the 1st quarter worth about $224,000. Finally, Fund Management at Engine No. 1 LLC acquired a new stake in Zimmer Biomet during the 1st quarter worth about $226,000. 90.34% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on ZBH shares. StockNews.com lowered shares of Zimmer Biomet from a “buy” rating to a “hold” rating in a research note on Thursday, May 12th. Morgan Stanley lifted their price objective on shares of Zimmer Biomet from $115.00 to $120.00 and gave the company an “equal weight” rating in a research note on Wednesday. Piper Sandler dropped their price objective on shares of Zimmer Biomet from $130.00 to $120.00 in a research note on Tuesday. Citigroup lifted their price target on shares of Zimmer Biomet from $114.00 to $119.00 in a research note on Wednesday. Finally, Stifel Nicolaus dropped their price target on shares of Zimmer Biomet from $140.00 to $120.00 in a research note on Monday, July 18th. Two investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $138.41.

About Zimmer Biomet

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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.

See Also

Earnings History for Zimmer Biomet (NYSE:ZBH)

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