Zimmer Biomet Holdings Inc (ZBH) reported quarterly earnings results on Thursday, Apr-28-2016. The company said it had a profit of $2.00 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.07. Analysts had a consensus of $1.93. The company posted revenue of $1904.00 million in the period, compared to analysts expectations of $1878.31 million. The company’s revenue was up 67.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.54 EPS.
Many Wall Street Analysts have commented on Zimmer Biomet Holdings Inc. Company shares were Reiterated by RBC Capital Mkts on Apr 15, 2016 to “Outperform”, Firm has raised the Price Target to $ 132 from a previous price target of $120 .Zimmer Biomet Holdings Inc was Initiated by Nomura to “Buy” on Mar 17, 2016. Zimmer Biomet Holdings Inc was Downgraded by Argus to ” Hold” on Mar 4, 2016.
Zimmer Biomet Holdings Inc opened for trading at $115.54 and hit $117 on the upside on Wednesday, eventually ending the session at $115.89, with a gain of 0.59% or 0.68 points. The heightened volatility saw the trading volume jump to 13,78,736 shares. Company has a market cap of $23,043 M.
In a different news, on Apr 18, 2016, Daniel P Florin (Sr. VP, CFO) sold 10,000 shares at $114.98 per share price. According to the SEC, on Mar 22, 2016, David C Dvorak (President and CEO) sold 1,540 shares at $104.16 per share price. On Dec 3, 2015, David A. Jr. Nolan (Group President) sold 3,435 shares at $102.62 per share price, according to the Form-4 filing with the securities and exchange commission.
Zimmer Biomet Holdings Inc. formerly Zimmer Holdings Inc. is a musculoskeletal healthcare company. The Company designs manufactures and markets orthopedic reconstructive products; sports medicine biologics extremities and trauma products; spine bone healing craniomaxillofacial and thoracic products; dental implants and related surgical products. The Company manages its operations through three geographic segments: the Americas comprising principally of the United States and includes other North Central and South American markets; Europe comprising principally of Europe and includes the Middle East and African markets; and Asia Pacific comprising primarily of Japan and includes other Asian and Pacific markets. The Company markets and sells products through three channels: direct to healthcare institutions such as hospitals or direct channel accounts; through stocking distributors and healthcare dealers and directly to dental practices and dental laboratories.