Zimmer Biomet (ZBH) PT Raised to $149.00

Zimmer Biomet (NYSE:ZBH) had its price objective raised by Morgan Stanley from $140.00 to $149.00 in a research note issued to investors on Thursday, Stock Target Advisor reports. The firm presently has an “overweight” rating on the medical equipment provider’s stock. Morgan Stanley’s price objective suggests a potential upside of 20.84% from the stock’s previous close.

ZBH has been the subject of a number of other research reports. Raymond James increased their target price on shares of Zimmer Biomet from $135.00 to $145.00 and gave the stock an “outperform” rating in a research report on Monday, July 30th. Zacks Investment Research upgraded shares of Zimmer Biomet from a “sell” rating to a “hold” rating in a research report on Sunday, July 8th. Robert W. Baird increased their target price on shares of Zimmer Biomet from $121.00 to $132.00 and gave the stock a “neutral” rating in a research report on Monday, July 30th. ValuEngine upgraded shares of Zimmer Biomet from a “sell” rating to a “hold” rating in a research report on Wednesday, July 25th. Finally, Oppenheimer reiterated a “buy” rating on shares of Zimmer Biomet in a research report on Monday, August 27th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and fifteen have given a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $135.55.

NYSE ZBH opened at $123.30 on Thursday. Zimmer Biomet has a 52-week low of $104.28 and a 52-week high of $134.55. The company has a debt-to-equity ratio of 0.78, a current ratio of 2.41 and a quick ratio of 1.25. The stock has a market cap of $26.75 billion, a P/E ratio of 15.26, a P/E/G ratio of 2.41 and a beta of 1.08.

Zimmer Biomet (NYSE:ZBH) last posted its quarterly earnings data on Friday, July 27th. The medical equipment provider reported $1.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.88 by $0.04. Zimmer Biomet had a net margin of 21.67% and a return on equity of 13.53%. The business had revenue of $2.01 billion during the quarter, compared to the consensus estimate of $1.99 billion. During the same quarter last year, the company posted $2.08 earnings per share. The firm’s quarterly revenue was up 3.0% compared to the same quarter last year. On average, equities research analysts anticipate that Zimmer Biomet will post 7.66 EPS for the current year.

In other news, VP Tony W. Collins sold 2,778 shares of the firm’s stock in a transaction that occurred on Tuesday, July 31st. The shares were sold at an average price of $125.77, for a total value of $349,389.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Chad F. Phipps sold 30,100 shares of the firm’s stock in a transaction that occurred on Friday, September 21st. The shares were sold at an average price of $132.37, for a total transaction of $3,984,337.00. The disclosure for this sale can be found here. 0.71% of the stock is currently owned by company insiders.

Several hedge funds have recently added to or reduced their stakes in the company. Focused Investors LLC boosted its position in shares of Zimmer Biomet by 0.3% in the second quarter. Focused Investors LLC now owns 1,206,500 shares of the medical equipment provider’s stock valued at $134,452,000 after acquiring an additional 4,000 shares during the period. Fred Alger Management Inc. lifted its position in Zimmer Biomet by 48.6% during the second quarter. Fred Alger Management Inc. now owns 1,194,763 shares of the medical equipment provider’s stock valued at $133,144,000 after purchasing an additional 390,517 shares during the last quarter. Jennison Associates LLC lifted its position in Zimmer Biomet by 3.9% during the second quarter. Jennison Associates LLC now owns 1,086,278 shares of the medical equipment provider’s stock valued at $121,055,000 after purchasing an additional 40,848 shares during the last quarter. Morgan Stanley lifted its position in Zimmer Biomet by 19.4% during the second quarter. Morgan Stanley now owns 1,040,927 shares of the medical equipment provider’s stock valued at $116,000,000 after purchasing an additional 168,807 shares during the last quarter. Finally, Legal & General Group Plc lifted its position in Zimmer Biomet by 2.3% during the second quarter. Legal & General Group Plc now owns 983,726 shares of the medical equipment provider’s stock valued at $109,634,000 after purchasing an additional 21,825 shares during the last quarter. Institutional investors own 87.18% of the company’s stock.

About Zimmer Biomet

Zimmer Biomet Holdings, Inc, together with its subsidiaries, designs, manufactures, and markets musculoskeletal healthcare products and solutions in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. It operates through four segments: Spine, less Asia Pacific; Office Based Technologies; Craniomaxillofacial and Thoracic; and Dental.

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