Investors Buy Zimmer Biomet (ZBH) on Weakness

Investors purchased shares of Zimmer Biomet Holdings Inc (NYSE:ZBH) on weakness during trading on Thursday. $49.17 million flowed into the stock on the tick-up and $35.90 million flowed out of the stock on the tick-down, for a money net flow of $13.27 million into the stock. Of all stocks tracked, Zimmer Biomet had the 28th highest net in-flow for the day. Zimmer Biomet traded down ($0.24) for the day and closed at $122.29

Several analysts recently weighed in on the stock. ValuEngine upgraded shares of Zimmer Biomet from a “hold” rating to a “buy” rating in a report on Thursday. Canaccord Genuity reiterated a “hold” rating and issued a $132.00 target price on shares of Zimmer Biomet in a report on Friday, January 5th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Zimmer Biomet in a report on Friday, January 5th. Goldman Sachs Group upgraded shares of Zimmer Biomet from a “sell” rating to a “neutral” rating and set a $125.00 price target for the company in a research note on Tuesday, December 19th. Finally, Oppenheimer restated a “buy” rating on shares of Zimmer Biomet in a research note on Tuesday, December 19th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company. Zimmer Biomet currently has a consensus rating of “Buy” and a consensus target price of $137.42.

The company has a quick ratio of 0.78, a current ratio of 1.47 and a debt-to-equity ratio of 0.88. The stock has a market cap of $24,760.44, a P/E ratio of 15.15, a P/E/G ratio of 1.90 and a beta of 1.15.

Zimmer Biomet (NYSE:ZBH) last issued its earnings results on Wednesday, November 1st. The medical equipment provider reported $1.72 EPS for the quarter, missing analysts’ consensus estimates of $1.74 by ($0.02). The firm had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.83 billion. Zimmer Biomet had a return on equity of 16.29% and a net margin of 8.36%. The business’s revenue for the quarter was down .8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.79 EPS. analysts anticipate that Zimmer Biomet Holdings Inc will post 8.03 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, January 29th. Investors of record on Friday, December 29th will be paid a dividend of $0.24 per share. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.79%. Zimmer Biomet’s payout ratio is currently 30.19%.

Hedge funds have recently modified their holdings of the stock. Bank of Nova Scotia Trust Co. acquired a new position in shares of Zimmer Biomet during the third quarter worth $112,000. FNY Managed Accounts LLC acquired a new position in shares of Zimmer Biomet during the third quarter worth $117,000. BB&T Investment Services Inc. acquired a new position in shares of Zimmer Biomet during the second quarter worth $144,000. Steward Partners Investment Advisory LLC acquired a new position in shares of Zimmer Biomet during the third quarter worth $140,000. Finally, Sandy Spring Bank grew its stake in shares of Zimmer Biomet by 5.4% during the second quarter. Sandy Spring Bank now owns 1,288 shares of the medical equipment provider’s stock worth $166,000 after purchasing an additional 66 shares in the last quarter. Hedge funds and other institutional investors own 85.92% of the company’s stock.

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Zimmer Biomet Company Profile

Zimmer Biomet Holdings, Inc is engaged in designing, manufacturing and marketing of orthopedic reconstructive products; sports medicine, biologics, extremities and trauma products; office-based technologies; spine, craniomaxillofacial and thoracic products; dental implants, and related surgical products.

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