Insider Trading : Tue 9/5/23

 

Notable purchases -- CEO adds to NRDY; notable sales -- CFO active in TOL

Buyers:

• INGR SVP, Global Ops and CSCO bought 3,000 shares at $98.50 worth ~$296K.
  
• MIRM 10% owner / Director bought 147,991 shares at ~$26.25 worth ~$3.9 mln.
• NRDY Chief Executive Officer bought 15,650 shares at $4.76 - $4.89 worth ~$75K.
• PI 10% owner Sylebra Capital bought another 126,427 shares at an average price of $63.32 worth ~$8.0 mln.
• PIII 10% owner bought 180,000 shares at $2.073 - $2.10 worth ~$376K.
• ZBH Director bought 1,000 shares at $120.37 worth ~$120K.

Sellers:

• AEIS Director sold 2,000 shares at $118.48 worth ~$237K.
• BLNK Former Director Chairman & CEO sold 52,000 shares at ~$3.97 - $4.00 worth ~$208K.
• CCOI VP-CFO sold 4,850 shares at $69.43 worth ~$337K.
• TOL CFO sold 5,000 shares at $84.11 worth ~$421K.

Zimmer Biomet (ZBH) reported earnings on Mon 31 October 2016

** charts after earnings **

 

** 4 weeks later  **

Zimmer Biomet Holdings (ZBH) on Monday plunged 14% Monday to a seven-month low after the medical supplier lowered its full-year forecast on a weak third-quarter earnings report.

The Warsaw, Ind.-based maker of orthopedic devices said it now sees diluted earnings at $1.50 to $1.60 a share, down from its previous forecast of $1.50 to $1.75. Adjusted earnings estimates were cut to a range of $7.90 to $7.95 a share, bringing down the upper end of that spread from $8.

Shares ended the day tumbling by 17.15 to 105.40. Zimmer's violent stock reaction parallels that of other medical suppliers who have reported in recent days. Edwards Lifesciences (EW) plunged more than 17% on Wednesday after its earnings disappointed, while Abiomed (ABMD) stumbled by more than 15% over two days last week.

Boston Scientific (BSX) slipped a few points when it reported earnings, but Stryker (SYK) saw a healthy uptick after it reported, gaining more than 4%.

Zimmer expects its revenue growth to be down as well. Excluding the company's acquisition of LDR Holding, growth is expected run between 1.65% to 1.9%, instead of the previous forecasts of 2.5% to 3%.

The company said net income for the quarter was $158.8 million. Adjusted earnings were $1.79 a share, in line with analyst estimates. But revenue of $1.83 billion fell short of forecasts. Analysts surveyed by Thomson Reuters expected $1.84 billion.