Zimmer Biomet (NYSE:ZBH) had its price target increased by Citigroup from $146.00 to $158.00 in a research note issued to investors on Friday, BenzingaRatingsTable reports. They currently have a buy rating on the medical equipment provider’s stock.
Several other research analysts have also commented on ZBH. Sanford C. Bernstein upgraded Zimmer Biomet from an underperform rating to a market perform rating and set a $121.71 price target on the stock in a report on Tuesday, June 11th. Robert W. Baird upgraded Zimmer Biomet from a neutral rating to an outperform rating and lifted their price target for the stock from $132.00 to $154.00 in a report on Monday, July 29th. Barclays upgraded Zimmer Biomet from an underweight rating to an equal weight rating and lifted their price target for the stock from $117.00 to $140.00 in a report on Tuesday. Cowen set a $140.00 price target on Zimmer Biomet and gave the stock a hold rating in a report on Friday, July 26th. Finally, TheStreet lowered Zimmer Biomet from a b- rating to a c rating in a report on Friday, June 7th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Zimmer Biomet has a consensus rating of Buy and an average price target of $140.64.
ZBH traded up $0.57 on Friday, hitting $138.07. 1,554,948 shares of the company’s stock were exchanged, compared to its average volume of 1,289,516. Zimmer Biomet has a fifty-two week low of $96.99 and a fifty-two week high of $138.82. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.56 and a current ratio of 1.19. The firm’s 50-day simple moving average is $122.15. The company has a market capitalization of $27.67 billion, a PE ratio of 18.07, a price-to-earnings-growth ratio of 2.42 and a beta of 1.14.
Zimmer Biomet (NYSE:ZBH) last posted its quarterly earnings results on Friday, July 26th. The medical equipment provider reported $1.93 EPS for the quarter, topping the consensus estimate of $1.91 by $0.02. Zimmer Biomet had a positive return on equity of 13.40% and a negative net margin of 4.56%. The business had revenue of $1.99 billion for the quarter, compared to analyst estimates of $1.98 billion. During the same quarter in the previous year, the firm earned $1.92 EPS. The company’s quarterly revenue was down .9% compared to the same quarter last year. As a group, equities research analysts forecast that Zimmer Biomet will post 7.82 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 31st. Investors of record on Friday, June 28th were issued a $0.24 dividend. The ex-dividend date of this dividend was Thursday, June 27th. This represents a $0.96 annualized dividend and a yield of 0.70%. Zimmer Biomet’s dividend payout ratio (DPR) is currently 12.57%.
In related news, insider Sang Yi sold 426 shares of the business’s stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $114.88, for a total value of $48,938.88. Following the sale, the insider now directly owns 1,457 shares in the company, valued at approximately $167,380.16. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.72% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Pennsylvania Trust Co grew its position in Zimmer Biomet by 9,730.5% in the 1st quarter. Pennsylvania Trust Co now owns 836,676 shares of the medical equipment provider’s stock valued at $55,704,000 after acquiring an additional 828,165 shares in the last quarter. Boston Partners grew its position in Zimmer Biomet by 61.9% in the 1st quarter. Boston Partners now owns 1,754,479 shares of the medical equipment provider’s stock valued at $224,047,000 after acquiring an additional 670,501 shares in the last quarter. Primecap Management Co. CA grew its position in Zimmer Biomet by 29.4% in the 1st quarter. Primecap Management Co. CA now owns 2,463,720 shares of the medical equipment provider’s stock valued at $314,617,000 after acquiring an additional 559,370 shares in the last quarter. BlackRock Inc. grew its position in Zimmer Biomet by 3.2% in the 1st quarter. BlackRock Inc. now owns 16,474,877 shares of the medical equipment provider’s stock valued at $2,103,841,000 after acquiring an additional 509,160 shares in the last quarter. Finally, Deutsche Bank AG grew its position in Zimmer Biomet by 93.5% in the 4th quarter. Deutsche Bank AG now owns 626,288 shares of the medical equipment provider’s stock valued at $64,950,000 after acquiring an additional 302,696 shares in the last quarter. Hedge funds and other institutional investors own 88.60% 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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