Zimmer Biomet Holdings, Inc. (ZBH) Receives “Strong-Buy” Rating from Needham & Company LLC
Zimmer Biomet Holdings, Inc. (NYSE:ZBH)‘s stock had its “strong-buy” rating reiterated by Needham & Company LLC in a research note issued to investors on Friday. They presently have a $151.00 target price on the stock. Needham & Company LLC’s price objective would indicate a potential upside of 29.81% from the company’s previous close.
Other equities research analysts have also issued reports about the stock. Jefferies Group LLC cut their price target on shares of Zimmer Biomet Holdings from $150.00 to $129.00 and set a “buy” rating on the stock in a research note on Tuesday, November 1st. Canaccord Genuity reissued a “buy” rating and set a $130.00 price objective (down from $150.00) on shares of Zimmer Biomet Holdings in a research report on Monday, October 31st. J P Morgan Chase & Co set a $134.00 price objective on shares of Zimmer Biomet Holdings and gave the stock a “buy” rating in a research report on Thursday, January 5th. Oppenheimer Holdings, Inc. set a $132.00 price objective on shares of Zimmer Biomet Holdings and gave the stock a “buy” rating in a research report on Wednesday, February 1st. Finally, Zacks Investment Research raised shares of Zimmer Biomet Holdings from a “sell” rating to a “hold” rating in a research report on Friday, December 16th. Four research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $133.75.
Zimmer Biomet Holdings (NYSE:ZBH) opened at 116.32 on Friday. Zimmer Biomet Holdings has a 12 month low of $92.88 and a 12 month high of $133.21. The firm has a 50 day moving average of $113.81 and a 200-day moving average of $117.06. The firm has a market cap of $23.31 billion, a P/E ratio of 77.55 and a beta of 1.20.
Zimmer Biomet Holdings (NYSE:ZBH) last announced its quarterly earnings results on Tuesday, January 31st. The company reported $2.14 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.11 by $0.03. Zimmer Biomet Holdings had a net margin of 3.90% and a return on equity of 16.66%. The firm had revenue of $2.01 billion for the quarter, compared to analyst estimates of $1.98 billion. During the same period last year, the business earned $2.09 EPS. Zimmer Biomet Holdings’s revenue for the quarter was up 4.1% compared to the same quarter last year. On average, equities research analysts forecast that Zimmer Biomet Holdings will post $8.56 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, January 27th. Stockholders of record on Friday, December 30th were issued a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 0.83%. The ex-dividend date of this dividend was Wednesday, December 28th. Zimmer Biomet Holdings’s payout ratio is 65.31%.
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In other news, insider David A. Jr. Nolan sold 5,050 shares of Zimmer Biomet Holdings stock in a transaction dated Friday, December 2nd. The shares were sold at an average price of $101.11, for a total value of $510,605.50. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 1.22% of the stock is owned by insiders.
A number of hedge funds have recently added to or reduced their stakes in the company. Parkside Financial Bank & Trust increased its stake in Zimmer Biomet Holdings by 0.5% in the third quarter. Parkside Financial Bank & Trust now owns 964 shares of the company’s stock worth $125,000 after buying an additional 5 shares in the last quarter. IFP Advisors Inc increased its stake in Zimmer Biomet Holdings by 0.5% in the second quarter. IFP Advisors Inc now owns 1,507 shares of the company’s stock worth $181,000 after buying an additional 8 shares in the last quarter. Cypress Wealth Advisors LLC increased its stake in Zimmer Biomet Holdings by 0.4% in the second quarter. Cypress Wealth Advisors LLC now owns 3,081 shares of the company’s stock worth $371,000 after buying an additional 11 shares in the last quarter. Capital One National Association increased its stake in Zimmer Biomet Holdings by 0.3% in the third quarter. Capital One National Association now owns 5,670 shares of the company’s stock worth $738,000 after buying an additional 15 shares in the last quarter. Finally, Pointe Capital Management LLC increased its stake in Zimmer Biomet Holdings by 0.8% in the third quarter. Pointe Capital Management LLC now owns 2,626 shares of the company’s stock worth $341,000 after buying an additional 21 shares in the last quarter. 86.62% of the stock is currently owned by hedge funds and other institutional investors.
Zimmer Biomet Holdings Company Profile
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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