Zimmer Biomet (NYSE:ZBH) was upgraded by ValuEngine from a “hold” rating to a “buy” rating in a note issued to investors on Thursday, January 11th.
A number of other research firms also recently issued reports on ZBH. Cantor Fitzgerald reiterated an “overweight” rating on shares of Zimmer Biomet in a report on Friday, January 5th. Canaccord Genuity restated a “hold” rating and set a $132.00 price target on shares of Zimmer Biomet in a report on Friday, January 5th. Morgan Stanley reduced their price target on Zimmer Biomet from $146.00 to $136.00 and set an “overweight” rating for the company in a report on Thursday, November 2nd. BMO Capital Markets dropped their price objective on Zimmer Biomet from $140.00 to $135.00 and set an “outperform” rating on the stock in a research report on Thursday, November 2nd. Finally, Piper Jaffray Companies cut Zimmer Biomet from an “overweight” rating to a “neutral” rating in a research report on Thursday, November 2nd. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $137.42.
Zimmer Biomet (NYSE ZBH) traded up $1.29 during trading hours on Thursday, hitting $123.48. The stock had a trading volume of 1,804,547 shares, compared to its average volume of 1,016,662. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.78 and a current ratio of 1.47. The stock has a market capitalization of $24,740.19, a price-to-earnings ratio of 38.83, a PEG ratio of 1.90 and a beta of 1.15. Zimmer Biomet has a 52-week low of $108.03 and a 52-week high of $133.49.
Zimmer Biomet (NYSE:ZBH) last announced its earnings results on Wednesday, November 1st. The medical equipment provider reported $1.72 EPS for the quarter, missing analysts’ consensus estimates of $1.74 by ($0.02). The business had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.83 billion. Zimmer Biomet had a net margin of 8.36% and a return on equity of 16.29%. Zimmer Biomet’s revenue was down .8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.79 EPS. equities research analysts forecast that Zimmer Biomet will post 8.03 EPS for the current fiscal year.
A number of large investors have recently added to or reduced their stakes in the business. BlackRock Inc. increased its stake in Zimmer Biomet by 4.1% in the 2nd quarter. BlackRock Inc. now owns 17,419,463 shares of the medical equipment provider’s stock worth $2,236,657,000 after acquiring an additional 679,080 shares during the last quarter. Vanguard Group Inc. increased its stake in Zimmer Biomet by 2.6% in the 2nd quarter. Vanguard Group Inc. now owns 13,380,517 shares of the medical equipment provider’s stock worth $1,718,057,000 after acquiring an additional 339,106 shares during the last quarter. Longview Partners Guernsey LTD boosted its holdings in shares of Zimmer Biomet by 17.7% in the 3rd quarter. Longview Partners Guernsey LTD now owns 7,506,684 shares of the medical equipment provider’s stock worth $878,958,000 after purchasing an additional 1,128,973 shares during the period. Nordea Investment Management AB boosted its holdings in shares of Zimmer Biomet by 7.3% in the 3rd quarter. Nordea Investment Management AB now owns 5,277,660 shares of the medical equipment provider’s stock worth $617,961,000 after purchasing an additional 357,302 shares during the period. Finally, Jana Partners LLC boosted its holdings in shares of Zimmer Biomet by 16.6% in the 3rd quarter. Jana Partners LLC now owns 4,662,497 shares of the medical equipment provider’s stock worth $545,932,000 after purchasing an additional 662,497 shares during the period. 86.06% of the stock is currently owned by institutional investors and hedge funds.
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About Zimmer Biomet
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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