|Bid||110.00 x 900|
|Ask||0.00 x 1400|
|Day's Range||131.79 - 133.57|
|52 Week Range||74.37 - 161.11|
|Beta (5Y Monthly)||1.35|
|PE Ratio (TTM)||747.13|
|Earnings Date||Nov 03, 2020 - Nov 09, 2020|
|Forward Dividend & Yield||0.96 (0.72%)|
|Ex-Dividend Date||Jun 26, 2020|
|1y Target Est||146.04|
Zimmer Biomet Holdings (NYSE: ZBH) shares are trading higher on Wednesday after analysts at several firms raised their price targets on the stock. The company on Tuesday reported second-quarter results.View more earnings on ZBHZimmer Biomet designs, manufactures and markets orthopedic reconstructive implants, as well as supplies and surgical equipment for orthopedic surgery. With the acquisitions of Centerpulse in 2003 and Biomet in 2015, Zimmer holds the leading share of the reconstructive market in the United States, Europe, and Japan. Roughly 60% of total revenue is derived from sales of large joints, another 22% comes from extremities and trauma; the remaining portion is primarily related to spine and dental products.Zimmer Biomet shares were trading up 2.81% to $134.31 at time of publication on Wednesday. The stock has a 52-week high of $161.11 and a 52-week low of $74.37.Latest Ratings for ZBH DateFirmActionFromTo Aug 2020Morgan StanleyMaintainsOverweight Aug 2020Raymond JamesMaintainsStrong Buy Aug 2020SVB LeerinkMaintainsOutperform View More Analyst Ratings for ZBH View the Latest Analyst RatingsSee more from Benzinga * Why Zimmer Biomet's Stock Is Trading Higher Today(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Zimmer Biomet fell 3.7% after reporting that second-quarter adjusted earnings per share plummeted to $0.05 from $1.93 in the year-ago quarter. Meanwhile, analysts had expected a loss of $0.73 per share.Zimmer's (ZBH) revenues declined over 38% to $1.23 billion year-over-year but surpassed Wall Street expectations of $909.4 million as the coronavirus pandemic resulted in a global decline in elective procedure volumes. However, the healthcare products maker said it is now witnessing incremental recovery in elective procedures since May.Canaccord Genuity analyst Kyle Rose raised the stock's price target to $150 (14.8% upside potential) from $137, and kept a Buy rating, ahead of 2Q earnings. Rose said “the near/medium-term economic impact of the pandemic, clarity around the durability of procedural volumes, the impact of the capex cycle, capacity for elective procedures over the medium term, management cut "too-deeply" to minimize cash burn.”Currently, the Street has a cautiously optimistic outlook on the stock. The Moderate Buy analyst consensus is based on 13 Buys, 4 Holds, and 1 Sell. With shares down about 13% this year, the average price target of $141.67 implies upside potential of about 8.4%. (See ZBH stock analysis on TipRanks).Related News: Paycom Drops In After-Hours As 2Q Sales Disappoint CyberArk Drops 6% On 3Q Outlook, Top Analyst Says Hold Twilio Falls 4% In After-Hours On Weakening Corporate Demand More recent articles from Smarter Analyst: * Pfizer, BioNTech Ink Deal To Supply Canada With Potential Covid-19 Vaccine * Fiverr Pops 18% In Pre-Market On Upbeat 2Q Earnings And Raised Outlook * CyberArk Drops 6% On 3Q Outlook, Top Analyst Says Hold * Paycom Drops In After-Hours As 2Q Sales Disappoint
Zimmer Biomet's (ZBH) second-quarter elective procedure volumes decline across all regions.