Zimmer Biomet Holdings, Inc. (ZBH) Shares Gap Down After Earnings Miss

Zimmer Biomet Holdings, Inc. (NYSE:ZBH)’s share price gapped down prior to trading on Thursday following a weaker than expected earnings announcement. The stock had previously closed at ($111.91), but opened at $0.00. Zimmer Biomet Holdings shares last traded at $0.00, with a volume of 4164771 shares changing hands.

The medical equipment provider reported $1.72 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.74 by ($0.02). Zimmer Biomet Holdings had a net margin of 8.36% and a return on equity of 16.29%. The firm had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.83 billion. During the same quarter last year, the firm posted $1.79 EPS. The business’s revenue was down .8% on a year-over-year basis.

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 27th. Investors of record on Friday, September 22nd were given a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of Infinity. The ex-dividend date of this dividend was Thursday, September 21st. Zimmer Biomet Holdings’s dividend payout ratio (DPR) is presently 30.19%.

Several research analysts recently weighed in on the stock. Stifel Nicolaus restated a “hold” rating and issued a $125.00 price objective on shares of Zimmer Biomet Holdings in a research report on Friday, July 14th. Gabelli assumed coverage on shares of Zimmer Biomet Holdings in a research report on Thursday, August 24th. They issued a “buy” rating and a $142.00 price objective for the company. Zacks Investment Research cut shares of Zimmer Biomet Holdings from a “hold” rating to a “strong sell” rating in a research report on Tuesday, August 8th. SunTrust Banks, Inc. restated a “buy” rating and issued a $136.00 price objective on shares of Zimmer Biomet Holdings in a research report on Monday, October 2nd. Finally, BMO Capital Markets restated a “buy” rating and issued a $136.00 price objective on shares of Zimmer Biomet Holdings in a research report on Tuesday, July 11th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $135.60.

Several hedge funds have recently made changes to their positions in ZBH. BlackRock Inc. grew its holdings in shares of Zimmer Biomet Holdings by 4,042.4% in the 1st quarter. BlackRock Inc. now owns 16,740,383 shares of the medical equipment provider’s stock valued at $2,044,168,000 after buying an additional 16,336,262 shares during the period. JPMorgan Chase & Co. grew its holdings in shares of Zimmer Biomet Holdings by 92.7% in the 2nd quarter. JPMorgan Chase & Co. now owns 3,279,951 shares of the medical equipment provider’s stock valued at $421,146,000 after buying an additional 1,577,874 shares during the period. Harbour Capital Advisors LLC grew its holdings in shares of Zimmer Biomet Holdings by 13,131.3% in the 2nd quarter. Harbour Capital Advisors LLC now owns 1,302,618 shares of the medical equipment provider’s stock valued at $10,145,000 after buying an additional 1,292,773 shares during the period. Longview Partners Guernsey LTD grew its holdings in shares of Zimmer Biomet Holdings by 17.7% in the 3rd quarter. Longview Partners Guernsey LTD now owns 7,506,684 shares of the medical equipment provider’s stock valued at $878,958,000 after buying an additional 1,128,973 shares during the period. Finally, Koch Industries Inc. grew its holdings in shares of Zimmer Biomet Holdings by 49,697.3% in the 2nd quarter. Koch Industries Inc. now owns 1,040,764 shares of the medical equipment provider’s stock valued at $1,033,000 after buying an additional 1,038,674 shares during the period. 85.26% of the stock is owned by institutional investors.

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About Zimmer Biomet Holdings

Zimmer Biomet Holdings, Inc is engaged in designing, manufacturing and marketing of orthopedic reconstructive products; sports medicine, biologics, extremities and trauma products; office-based technologies; spine, craniomaxillofacial and thoracic products; dental implants, and related surgical products.

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