Zimmer Biomet reported on Monday first quarter earnings that beat analysts' forecasts and revenue that fell short of expectations.
Zimmer Biomet announced earnings per share of $1.7 on revenue of $1.78B. Analysts polled by anticipated EPS of $1.43 on revenue of $1.82B. That with comparison to EPS of $1.87 on revenue of $1.98B in the same period a year before. Zimmer Biomet had reported EPS of $2.3 on revenue of $2.13B in the previous quarter. Analysts are expecting EPS of $-0.08 and revenue of $1.16B in the upcoming quarter.
Zimmer Biomet shares are down 18% from the beginning of the year , still down 24.36% from its 52 week high of $161.11 set on February 19. They are under-performing the S&P 500 which is down 9.7% year to date.
Zimmer Biomet follows other major Healthcare sector earnings this month
Zimmer Biomet's report follows an earnings beat by J&J on April 14, who reported EPS of $2.3 on revenue of $20.69B, compared to forecasts EPS of $2.02 on revenue of $19.73B.
Pfizer had beat expectations on April 28 with first quarter EPS of $0.8 on revenue of $12.03B, compared to forecast for EPS of $0.73 on revenue of $11.81B.
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