Oppenheimer began coverage on shares of Zimmer Biomet (NYSE:ZBH) in a research note issued to investors on Thursday, March 15th. The firm issued an outperform rating and a $135.00 target price on the medical equipment provider’s stock.
ZBH has been the topic of several other research reports. SunTrust Banks upped their price objective on Zimmer Biomet to $142.00 and gave the stock a buy rating in a research report on Monday, January 29th. Canaccord Genuity restated a hold rating and issued a $125.00 price objective on shares of Zimmer Biomet in a research report on Tuesday, December 19th. BMO Capital Markets restated a buy rating and issued a $144.00 price objective on shares of Zimmer Biomet in a research report on Tuesday, January 30th. Morgan Stanley lowered their price objective on Zimmer Biomet from $150.00 to $148.00 and set an overweight rating on the stock in a research report on Monday, February 26th. Finally, Raymond James Financial initiated coverage on Zimmer Biomet in a research note on Thursday, March 15th. They set an outperform rating and a $135.00 target price for the company. Two analysts have rated the stock with a sell rating, seven have given a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of Buy and an average price target of $139.35.
NYSE ZBH traded down $3.17 during trading hours on Thursday, reaching $105.18. The stock had a trading volume of 861,253 shares, compared to its average volume of 1,193,736. The firm has a market cap of $22,010.97, a P/E ratio of 13.10, a P/E/G ratio of 1.89 and a beta of 1.17. Zimmer Biomet has a 52-week low of $104.28 and a 52-week high of $133.49. The company has a quick ratio of 0.81, a current ratio of 1.50 and a debt-to-equity ratio of 0.76.
Zimmer Biomet (NYSE:ZBH) last issued its earnings results on Tuesday, January 30th. The medical equipment provider reported $2.10 EPS for the quarter, meeting the Zacks’ consensus estimate of $2.10. Zimmer Biomet had a return on equity of 15.45% and a net margin of 23.51%. The firm had revenue of $2.07 billion for the quarter, compared to analyst estimates of $2.03 billion. During the same quarter in the prior year, the firm earned $2.14 earnings per share. Zimmer Biomet’s revenue for the quarter was up 3.0% on a year-over-year basis. research analysts expect that Zimmer Biomet will post 7.8 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 30th. Investors of record on Thursday, March 29th will be paid a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 0.91%. The ex-dividend date of this dividend is Wednesday, March 28th. Zimmer Biomet’s dividend payout ratio is currently 11.96%.
In related news, insider Bryan C. Hanson bought 25,077 shares of the company’s stock in a transaction on Tuesday, February 20th. The stock was bought at an average cost of $119.68 per share, for a total transaction of $3,001,215.36. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Chad F. Phipps sold 20,826 shares of the company’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $115.95, for a total value of $2,414,774.70. The disclosure for this sale can be found here. 1.07% of the stock is currently owned by corporate insiders.
Large investors have recently modified their holdings of the business. Bank of Nova Scotia Trust Co. purchased a new stake in Zimmer Biomet in the 3rd quarter valued at $112,000. FNY Managed Accounts LLC purchased a new stake in Zimmer Biomet in the 3rd quarter valued at $117,000. Cerebellum GP LLC purchased a new stake in Zimmer Biomet in the 4th quarter valued at $133,000. We Are One Seven LLC purchased a new stake in Zimmer Biomet in the 4th quarter valued at $137,000. Finally, Steward Partners Investment Advisory LLC purchased a new stake in Zimmer Biomet in the 3rd quarter valued at $140,000. Institutional investors own 86.51% 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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