Zimmer Biomet Inc (NYSE:ZBH) Reports Quarterly Results, Beats Estimates of $0.03 per EPS
Zimmer Biomet Inc (NYSE:ZBH) announced its results on Monday. The medical equipment supplier reported earnings per share of $1.95 for the quarter, missing Thomson Reuters consensus estimate of $1.98 per ($0.03), RTT News reports. Zimmer Biomet achieved a net margin of 10.39% and a return on equity of 12.67%. The company posted revenue of $2.04 billion for the quarter, versus a consensus estimate of $2.07 billion. During the same period of the previous year, the company achieved EPS of $2.11. The company’s quarterly revenue decreased 2.3% from the same quarter last year. Zimmer Biomet updated its guidance for FY22 to EPS $6.40-6.80.
ZBH opened at $122.83 on Monday. Zimmer Biomet has a fifty-two week minimum of $116.60 and a fifty-two week maximum of $180.36. The company has a 50-day moving average of $124.72 and a 200-day moving average of $138.31. The company has a debt ratio of 0.51, a current ratio of 1.81 and a quick ratio of 0.95. The company has a market capitalization of $25.66 billion, a PE ratio of 31.58, a growth price-earnings ratio of 1.83 and a beta of 1.25.
The company also recently declared a quarterly dividend, which was paid on Monday, January 31. Shareholders of record on Tuesday, December 28 received a dividend of $0.24 per share. This represents a dividend of $0.96 on an annualized basis and a dividend yield of 0.78%. The ex-dividend date was Monday, December 27. Zimmer Biomet’s dividend payout ratio (DPR) is currently 24.68%.
In other news, Insider Sang Yi sold 2,800 shares of the company in a transaction dated Tuesday, December 14. The stock was sold at an average price of $124.14, for a total transaction of $347,592.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available via the SEC website. 0.56% of the shares are held by insiders of the company.
Several research analysts have weighed in on the company recently. Argus upgraded Zimmer Biomet from a “buy” rating to a “hold” rating in a Tuesday, November 23 research note. Truist Financial reduced its price target on Zimmer Biomet from $175.00 to $145.00 and set a “buy” rating for the company in a Tuesday, Dec. 21 research note. Morgan Stanley downgraded Zimmer Biomet from an “overweight” rating to an “equal weight” rating and lowered its target price for the company from $165.00 to $145.00 in a Friday, Jan. 7 research note. Wells Fargo & Company downgraded Zimmer Biomet from an “equal weight” rating to an “underweight” rating and lowered its target price for the company from $170.00 to $124.00 in a rating of research from Wednesday, January 19. Finally, UBS Group downgraded Zimmer Biomet from a “buy” rating to a “neutral” rating and reduced its price target for the company from $172.00 to $130.00 in a Wednesday, February 2, report. One stock research analyst gave the stock a sell rating, ten gave the company a hold rating and thirteen gave the company a buy rating. According to MarketBeat.com, the stock has an average buy rating and consensus price target of $164.71.
About Zimmer Biomet
Zimmer Biomet Holdings, Inc provides musculoskeletal healthcare services. It operates through the following segments: Americas and Global, EMEA and Asia-Pacific. The Americas and Global segment includes the United States and includes other North, Central and South American markets for all product categories as well as the dental division’s global results.
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