Zimmer Biomet (NYSE:ZBH) Announces Earnings Results

Zimmer Biomet (NYSE:ZBH) announced its quarterly earnings data on Tuesday. The medical equipment provider reported $1.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.75 by $0.02, Briefing.com reports. The firm had revenue of $1.89 billion for the quarter, compared to the consensus estimate of $1.87 billion. Zimmer Biomet had a negative net margin of 1.14% and a positive return on equity of 13.89%. The business’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same period in the prior year, the company posted $1.63 earnings per share. Zimmer Biomet updated its FY19 guidance to $7.75 -7.90 EPS.

ZBH opened at $141.93 on Friday. The company’s 50 day moving average is $136.99 and its 200-day moving average is $128.52. Zimmer Biomet has a 1-year low of $96.99 and a 1-year high of $144.44. The company has a current ratio of 1.19, a quick ratio of 0.56 and a debt-to-equity ratio of 0.58. The company has a market cap of $28.81 billion, a P/E ratio of 18.58, a PEG ratio of 2.66 and a beta of 1.14.

The business also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, September 30th were paid a $0.24 dividend. The ex-dividend date of this dividend was Friday, September 27th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.68%. Zimmer Biomet’s payout ratio is currently 12.57%.

In related news, VP Chad F. Phipps sold 32,800 shares of Zimmer Biomet stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $140.00, for a total transaction of $4,592,000.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Didier Deltort sold 360 shares of Zimmer Biomet stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $139.25, for a total transaction of $50,130.00. Following the sale, the insider now owns 1,194 shares in the company, valued at $166,264.50. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 40,244 shares of company stock worth $5,621,885. 0.72% of the stock is currently owned by corporate insiders.

A number of equities research analysts have issued reports on the stock. ValuEngine downgraded shares of Zimmer Biomet from a “buy” rating to a “hold” rating in a research note on Wednesday, August 21st. TheStreet upgraded shares of Zimmer Biomet from a “c+” rating to a “b” rating in a research note on Tuesday. Cowen set a $140.00 price objective on shares of Zimmer Biomet and gave the stock a “buy” rating in a research note on Monday, September 23rd. Oppenheimer increased their price objective on shares of Zimmer Biomet from $135.00 to $150.00 and gave the stock an “outperform” rating in a research note on Monday, July 29th. Finally, UBS Group increased their price objective on shares of Zimmer Biomet from $158.00 to $165.00 and gave the stock a “buy” rating in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and nineteen have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $147.95.

Zimmer Biomet Company Profile

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.

See Also: Stock Split

Earnings History for Zimmer Biomet (NYSE:ZBH)

Receive News & Ratings for Zimmer Biomet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Zimmer Biomet and related companies with MarketBeat.com's FREE daily email newsletter.