Zimmer Biomet Holdings Inc (ZBH) reported quarterly earnings results on Thursday, Jul-28-2016. The company said it had a profit of $2.02 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.05. Analysts had a consensus of $1.97. The company posted revenue of $1934.00 million in the period, compared to analysts expectations of $1898.18 million. The company’s revenue was up 65.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.58 EPS.
Many Wall Street Analysts have commented on Zimmer Biomet Holdings Inc. Company shares were Reiterated by Needham on Jul 18, 2016 to “Buy”, Firm has raised the Price Target to $ 143 from a previous price target of $134 .Zimmer Biomet Holdings Inc was Initiated by Guggenheim to “Neutral” on Jun 9, 2016.
Zimmer Biomet Holdings Inc opened for trading at $126.5 and hit $129.58 on the upside on Thursday, eventually ending the session at $127.47, with a gain of 3.90% or 4.79 points. The heightened volatility saw the trading volume jump to 26,35,215 shares. Company has a market cap of $25,397 M.
In a different news, on Jul 12, 2016, Daniel P Florin (Sr. VP, CFO) sold 15,000 shares at $124.98 per share price. According to the SEC, on Jun 16, 2016, Tony W. Collins (VP, Controller and CAO) sold 3,611 shares at $116.43 per share price. On Jun 10, 2016, Daniel E. Williamson (Group President) sold 10,000 shares at $119.77 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.