Shares of Zimmer Biomet Holdings Inc. (NYSE:ZBH) reached a new 52-week high during trading on Friday . The stock traded as high as $124.96 and last traded at $124.75, with a volume of 564,088 shares traded. The stock had previously closed at $122.02.

Several analysts recently commented on the stock. Zacks Investment Research upgraded shares of Zimmer Biomet Holdings from a “hold” rating to a “buy” rating and set a $135.00 price target for the company in a report on Monday. Jefferies Group restated a “buy” rating on shares of Zimmer Biomet Holdings in a report on Sunday, May 22nd. Needham & Company LLC restated a “buy” rating on shares of Zimmer Biomet Holdings in a report on Wednesday, June 8th. Canaccord Genuity restated a “buy” rating on shares of Zimmer Biomet Holdings in a report on Wednesday, June 8th. Finally, Argus upgraded shares of Zimmer Biomet Holdings from a “hold” rating to a “buy” rating and set a $140.00 price target for the company in a report on Wednesday, May 25th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and eighteen have given a buy rating to the stock. Zimmer Biomet Holdings has a consensus rating of “Buy” and an average target price of $124.50.

The company’s 50 day moving average is $119.63 and its 200 day moving average is $108.33. The stock has a market cap of $24.88 billion and a P/E ratio of 307.56.

Zimmer Biomet Holdings (NYSE:ZBH) last announced its quarterly earnings results on Thursday, April 28th. The company reported $2.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.93 by $0.07. During the same period in the prior year, the business earned $1.54 EPS. The business had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.88 billion. The company’s revenue for the quarter was up 67.8% compared to the same quarter last year. Analysts expect that Zimmer Biomet Holdings Inc. will post $7.96 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 29th. Shareholders of record on Friday, June 24th will be issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 0.79%. The ex-dividend date is Wednesday, June 22nd.

In other Zimmer Biomet Holdings news, CFO Daniel P. Florin sold 12,000 shares of the stock in a transaction on Tuesday, April 12th. The stock was sold at an average price of $110.00, for a total transaction of $1,320,000.00. Following the transaction, the chief financial officer now owns 38,415 shares in the company, valued at approximately $4,225,650. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Daniel P. Florin sold 10,000 shares of the stock in a transaction on Thursday, April 14th. The stock was sold at an average price of $114.98, for a total value of $1,149,800.00. Following the transaction, the chief financial officer now owns 28,415 shares in the company, valued at approximately $3,267,156.70. The disclosure for this sale can be found here.

A number of hedge funds and institutional investors have recently bought and sold shares of ZBH. Comerica Bank purchased a new position in Zimmer Biomet Holdings during the fourth quarter valued at $7,917,000. Shell Asset Management Co. purchased a new position in Zimmer Biomet Holdings during the fourth quarter valued at $2,985,000. ProShare Advisors LLC purchased a new position in Zimmer Biomet Holdings during the fourth quarter valued at $3,088,000. Commerzbank Aktiengesellschaft FI purchased a new position in Zimmer Biomet Holdings during the fourth quarter valued at $1,104,000. Finally, PNC Financial Services Group Inc. purchased a new position in Zimmer Biomet Holdings during the fourth quarter valued at $45,796,000.

Zimmer Biomet Holdings, Inc, formerly Zimmer Holdings, Inc, is engaged designing, manufacturing and marketing orthopaedic reconstructive products; sports medicine, biologics, extremities and trauma products; spine, bone healing, craniomaxillofacial and thoracic products; dental implants, and related surgical products.

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