Canaccord Genuity reiterated their hold rating on shares of Zimmer Biomet (NYSE:ZBH) in a report published on Tuesday, December 19th. They currently have a $125.00 price objective on the medical equipment provider’s stock.
“We maintain our HOLD rating following the announcement that Zimmer has named Bryan Hanson, former EVP and President of Medtronic’s Minimally Invasive Therapies Group, as CEO effective immediately. The announcement ends the five-month search for a new leader after former CEO David Dvorak resigned early in the Q3/17. Additionally, interim CEO Dan Florin will remain with the company as CFO. We view the hire positively as it removes the near-term overhang of management uncertainty and adds a seasoned medtech veteran to the management team and board. Additionally, we expect the new CEO to be well received by investors given our recent diligence suggested Mr. Hanson was at the top of investors’ short list of potential candidates.”,” Canaccord Genuity’s analyst wrote.
ZBH has been the subject of a number of other reports. Gabelli began coverage on Zimmer Biomet in a research report on Thursday, August 24th. They issued a buy rating and a $142.00 price target for the company. Zacks Investment Research upgraded Zimmer Biomet from a sell rating to a hold rating in a research report on Tuesday, September 26th. SunTrust Banks reiterated a buy rating and issued a $136.00 price objective on shares of Zimmer Biomet in a research report on Monday, October 2nd. Piper Jaffray Companies lowered Zimmer Biomet from an overweight rating to a neutral rating in a research report on Thursday, November 2nd. Finally, BMO Capital Markets lowered their price target on Zimmer Biomet from $140.00 to $135.00 and set an outperform rating for the company in a research report on Thursday, November 2nd. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of Buy and a consensus price target of $137.42.
Shares of Zimmer Biomet (ZBH) traded down $0.19 during mid-day trading on Tuesday, hitting $122.10. The stock had a trading volume of 1,014,391 shares, compared to its average volume of 1,318,487. The firm has a market cap of $24,760.44, a PE ratio of 15.15, a PEG ratio of 1.90 and a beta of 1.15. Zimmer Biomet has a fifty-two week low of $108.03 and a fifty-two week high of $133.49. The company has a current ratio of 1.47, a quick ratio of 0.78 and a debt-to-equity ratio of 0.88.
Zimmer Biomet (NYSE:ZBH) last announced 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). Zimmer Biomet had a net margin of 8.36% and a return on equity of 16.29%. The firm had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.83 billion. During the same period in the previous year, the company earned $1.79 EPS. Zimmer Biomet’s revenue was down .8% compared to the same quarter last year. research analysts expect that Zimmer Biomet will post 8.03 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, January 29th. Shareholders of record on Friday, December 29th will be paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 0.79%. The ex-dividend date is Thursday, December 28th. Zimmer Biomet’s dividend payout ratio is presently 30.19%.
Institutional investors have recently bought and sold shares of the business. Hexavest Inc. grew its holdings in shares of Zimmer Biomet by 3.0% during the fourth quarter. Hexavest Inc. now owns 317,253 shares of the medical equipment provider’s stock worth $38,283,000 after purchasing an additional 9,108 shares during the last quarter. Daiwa SB Investments Ltd. grew its holdings in shares of Zimmer Biomet by 5.2% during the fourth quarter. Daiwa SB Investments Ltd. now owns 8,470 shares of the medical equipment provider’s stock worth $1,022,000 after purchasing an additional 420 shares during the last quarter. Trust Co grew its holdings in shares of Zimmer Biomet by 56.2% during the third quarter. Trust Co now owns 2,678 shares of the medical equipment provider’s stock worth $314,000 after purchasing an additional 964 shares during the last quarter. Chesley Taft & Associates LLC purchased a new position in shares of Zimmer Biomet during the fourth quarter worth about $202,000. Finally, Boltwood Capital Management purchased a new position in shares of Zimmer Biomet during the fourth quarter worth about $861,000. 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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