Traders Buy Zimmer Biomet (ZBH) on Weakness

Traders purchased shares of Zimmer Biomet Holdings Inc (NYSE:ZBH) on weakness during trading hours on Monday. $44.12 million flowed into the stock on the tick-up and $21.04 million flowed out of the stock on the tick-down, for a money net flow of $23.08 million into the stock. Of all companies tracked, Zimmer Biomet had the 20th highest net in-flow for the day. Zimmer Biomet traded down ($0.11) for the day and closed at $115.03

Several research analysts have recently weighed in on ZBH shares. Oppenheimer reissued a “buy” rating on shares of Zimmer Biomet in a research report on Monday, August 27th. Canaccord Genuity lifted their price objective on Zimmer Biomet from $122.00 to $125.00 and gave the stock a “hold” rating in a research report on Monday, July 30th. Citigroup lifted their price objective on Zimmer Biomet from $117.00 to $128.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 31st. Robert W. Baird lifted their price objective on Zimmer Biomet from $121.00 to $132.00 and gave the stock a “neutral” rating in a research report on Monday, July 30th. Finally, Barclays started coverage on Zimmer Biomet in a research report on Monday, October 15th. They issued an “underweight” rating and a $131.00 price objective for the company. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and fifteen have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $133.86.

The company has a quick ratio of 0.96, a current ratio of 1.89 and a debt-to-equity ratio of 0.70. The company has a market cap of $23.43 billion, a P/E ratio of 14.33, a PEG ratio of 2.33 and a beta of 1.16.

Zimmer Biomet (NYSE:ZBH) last issued its earnings results on Friday, October 26th. The medical equipment provider reported $1.63 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.60 by $0.03. The company had revenue of $1.84 billion during the quarter, compared to the consensus estimate of $1.84 billion. Zimmer Biomet had a return on equity of 12.88% and a net margin of 22.42%. The firm’s revenue for the quarter was up 1.3% compared to the same quarter last year. During the same period last year, the business posted $1.72 EPS. On average, equities research analysts forecast that Zimmer Biomet Holdings Inc will post 7.65 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 31st. Stockholders of record on Friday, September 28th were paid a $0.24 dividend. The ex-dividend date was Thursday, September 27th. This represents a $0.96 annualized dividend and a dividend yield of 0.83%. Zimmer Biomet’s dividend payout ratio is presently 11.96%.

In other Zimmer Biomet news, VP Chad F. Phipps sold 30,100 shares of Zimmer Biomet stock in a transaction dated Friday, September 21st. The stock was sold at an average price of $132.37, for a total transaction of $3,984,337.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Bryan C. Hanson purchased 410 shares of the business’s stock in a transaction on Friday, August 31st. The shares were bought at an average price of $123.03 per share, with a total value of $50,442.30. Following the purchase, the chief executive officer now directly owns 25,487 shares in the company, valued at approximately $3,135,665.61. The disclosure for this purchase can be found here. Company insiders own 0.71% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in the business. Focused Investors LLC boosted its stake in Zimmer Biomet by 0.3% during the 2nd quarter. Focused Investors LLC now owns 1,206,500 shares of the medical equipment provider’s stock valued at $134,452,000 after purchasing an additional 4,000 shares during the last quarter. Fred Alger Management Inc. boosted its stake in Zimmer Biomet by 48.6% during the 2nd 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 boosted its stake in Zimmer Biomet by 3.9% during the 2nd 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 boosted its stake in Zimmer Biomet by 19.4% during the 2nd 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 boosted its stake in Zimmer Biomet by 2.3% during the 2nd 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 and hedge funds own 86.28% of the company’s stock.

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Zimmer Biomet Company Profile (NYSE:ZBH)

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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