Argus upgraded shares of Zimmer Biomet (NYSE:ZBH) from a hold rating to a buy rating in a research report sent to investors on Monday, BenzingaRatingsTable reports. The brokerage currently has $160.00 price target on the medical equipment provider’s stock.
A number of other research firms have also recently commented on ZBH. Raymond James upped their target price on shares of Zimmer Biomet from $145.00 to $150.00 and gave the company an outperform rating in a research report on Monday, July 29th. Morgan Stanley increased their price target on shares of Zimmer Biomet from $143.00 to $150.00 and gave the stock an overweight rating in a research report on Monday, July 29th. Citigroup increased their price target on shares of Zimmer Biomet from $146.00 to $158.00 and gave the stock a buy rating in a research report on Friday, August 2nd. Credit Suisse Group increased their price target on shares of Zimmer Biomet from $101.00 to $120.00 and gave the stock an underperform rating in a research report on Monday, July 29th. Finally, TheStreet cut shares of Zimmer Biomet from a b- rating to a c rating in a research report on Friday, June 7th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of Buy and an average target price of $141.56.
NYSE ZBH opened at $135.13 on Monday. The firm’s 50-day moving average is $127.15 and its two-hundred day moving average is $123.10. Zimmer Biomet has a 12 month low of $96.99 and a 12 month high of $140.53. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.19 and a quick ratio of 0.56. The stock has a market capitalization of $28.43 billion, a P/E ratio of 17.69, a PEG ratio of 2.48 and a beta of 1.15.
Zimmer Biomet (NYSE:ZBH) last posted its earnings results on Friday, July 26th. The medical equipment provider reported $1.93 EPS for the quarter, beating the Zacks’ consensus estimate of $1.91 by $0.02. Zimmer Biomet had a negative net margin of 4.56% and a positive return on equity of 13.40%. The company had revenue of $1.99 billion for the quarter, compared to analysts’ expectations of $1.98 billion. During the same quarter in the prior year, the company posted $1.92 earnings per share. Zimmer Biomet’s revenue for the quarter was down .9% compared to the same quarter last year. As a group, analysts anticipate that Zimmer Biomet will post 7.82 EPS for the current year.
The company also recently announced 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 was Thursday, June 27th. This represents a $0.96 annualized dividend and a yield of 0.71%. Zimmer Biomet’s dividend payout ratio (DPR) is 12.57%.
In related news, insider Sang Yi sold 426 shares of the firm’s stock in a transaction that occurred on 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 owns 1,457 shares of the company’s stock, valued at $167,380.16. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Chad F. Phipps sold 32,800 shares of the firm’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $140.00, for a total transaction of $4,592,000.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 33,373 shares of company stock worth $4,661,328. 0.72% of the stock is owned by corporate insiders.
A number of large investors have recently modified their holdings of the stock. Lindbrook Capital LLC increased its stake in Zimmer Biomet by 207.6% in the first quarter. Lindbrook Capital LLC now owns 203 shares of the medical equipment provider’s stock valued at $25,000 after purchasing an additional 137 shares during the last quarter. Motco grew its position in shares of Zimmer Biomet by 86.2% during the first quarter. Motco now owns 216 shares of the medical equipment provider’s stock worth $28,000 after acquiring an additional 100 shares during the last quarter. Personal Wealth Partners purchased a new position in shares of Zimmer Biomet during the second quarter worth approximately $26,000. TRUE Private Wealth Advisors purchased a new position in shares of Zimmer Biomet during the second quarter worth approximately $26,000. Finally, Coastal Investment Advisors Inc. grew its position in shares of Zimmer Biomet by 271.0% during the second quarter. Coastal Investment Advisors Inc. now owns 256 shares of the medical equipment provider’s stock worth $30,000 after acquiring an additional 187 shares during the last quarter. 87.89% of the stock is currently owned by hedge funds and other institutional investors.
Zimmer Biomet Company Profile
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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