Zimmer Biomet Holdings Inc. (ZBH) Trading Down 3.6%
Zimmer Biomet Holdings Inc. (NYSE:ZBH)’s share price dropped 3.6% on Wednesday . The company traded as low as $127.88 and last traded at $128.24, with a volume of 3,036,402 shares traded. The stock had previously closed at $133.09.
ZBH has been the topic of a number of research reports. Piper Jaffray Cos. reaffirmed an “overweight” rating and issued a $125.00 price target on shares of Zimmer Biomet Holdings in a research note on Tuesday, June 21st. Royal Bank Of Canada upped their price target on shares of Zimmer Biomet Holdings from $120.00 to $132.00 and gave the stock an “outperform” rating in a research note on Friday, April 15th. Barclays PLC upped their price target on shares of Zimmer Biomet Holdings from $130.00 to $135.00 and gave the stock an “overweight” rating in a research note on Friday, April 29th. Jefferies Group upped their price target on shares of Zimmer Biomet Holdings from $135.00 to $150.00 and gave the stock a “buy” rating in a research note on Friday, July 29th. Finally, Guggenheim started coverage on shares of Zimmer Biomet Holdings in a research note on Wednesday, June 8th. They issued a “neutral” rating on the stock. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and twenty have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $130.45.
The firm has a market capitalization of $25.71 billion and a PE ratio of 117.74. The company has a 50-day moving average price of $124.79 and a 200 day moving average price of $112.67.
Zimmer Biomet Holdings (NYSE:ZBH) last announced its quarterly earnings results on Thursday, July 28th. The company reported $2.02 EPS for the quarter, beating the Zacks’ consensus estimate of $1.97 by $0.05. The company earned $1.93 billion during the quarter, compared to analyst estimates of $1.90 billion. During the same quarter last year, the company posted $1.58 EPS. The firm’s quarterly revenue was up 65.6% on a year-over-year basis. On average, equities analysts expect that Zimmer Biomet Holdings Inc. will post $7.97 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, July 29th. Investors of record on Friday, June 24th were paid a $0.24 dividend. The ex-dividend date was Wednesday, June 22nd. This represents a $0.96 dividend on an annualized basis and a yield of 0.74%.
In related news, insider Stuart G. Kleopfer sold 11,000 shares of the company’s stock in a transaction dated Thursday, June 9th. The shares were sold at an average price of $119.45, for a total value of $1,313,950.00. Following the transaction, the insider now owns 7,609 shares in the company, valued at approximately $908,895.05. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider David A. Jr. Nolan sold 25,255 shares of the company’s stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $130.77, for a total transaction of $3,302,596.35. The disclosure for this sale can be found here.
A number of hedge funds and institutional investors recently made changes to their positions in ZBH. Liberty Mutual Group Asset Management Inc. bought a new position in shares of Zimmer Biomet Holdings during the fourth quarter worth approximately $1,029,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new position in shares of Zimmer Biomet Holdings during the fourth quarter worth approximately $1,147,000. Mutual of America Capital Management LLC bought a new position in shares of Zimmer Biomet Holdings during the fourth quarter worth approximately $2,669,000. Morgan Stanley raised its position in shares of Zimmer Biomet Holdings by 21.9% in the fourth quarter. Morgan Stanley now owns 345,535 shares of the company’s stock worth $35,450,000 after buying an additional 62,101 shares during the period. Finally, Cornerstone Capital Management Holdings LLC. bought a new position in shares of Zimmer Biomet Holdings during the fourth quarter worth approximately $3,844,000.
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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