Traders Buy Shares of Zimmer Biomet Holdings Inc. (ZBH) on Weakness
Investors purchased shares of Zimmer Biomet Holdings Inc. (NYSE:ZBH) on weakness during trading hours on Friday. $61.95 million flowed into the stock on the tick-up and $38.88 million flowed out of the stock on the tick-down, for a money net flow of $23.07 million into the stock. Of all companies tracked, Zimmer Biomet Holdings had the 18th highest net in-flow for the day. Zimmer Biomet Holdings traded down ($0.81) for the day and closed at $124.48
ZBH has been the subject of a number of research reports. Goldman Sachs Group Inc. reduced their price target on shares of Zimmer Biomet Holdings from $113.00 to $111.00 in a report on Friday, April 8th. Oppenheimer Holdings Inc. restated an “outperform” rating and issued a $120.00 price target on shares of Zimmer Biomet Holdings in a report on Monday, April 11th. Royal Bank Of Canada raised their price target on shares of Zimmer Biomet Holdings from $120.00 to $132.00 and gave the stock an “outperform” rating in a report on Friday, April 15th. Needham & Company LLC restated a “buy” rating and issued a $134.00 price target (up from $129.00) on shares of Zimmer Biomet Holdings in a report on Thursday, April 28th. Finally, Canaccord Genuity restated a “buy” rating and issued a $150.00 price target on shares of Zimmer Biomet Holdings in a report on Thursday, April 28th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and eighteen have issued a buy rating to the stock. Zimmer Biomet Holdings presently has a consensus rating of “Buy” and an average target price of $124.95.
The company has a market capitalization of $24.80 billion and a price-to-earnings ratio of 306.60. The stock has a 50 day moving average price of $120.95 and a 200-day moving average price of $110.07.
Zimmer Biomet Holdings (NYSE:ZBH) last released its earnings results on Thursday, April 28th. The company reported $2.00 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.93 by $0.07. The business earned $1.90 billion during the quarter, compared to analysts’ expectations of $1.88 billion. During the same period in the prior year, the company earned $1.54 earnings per share. The firm’s quarterly revenue was up 67.8% compared to the same quarter last year. Analysts forecast that Zimmer Biomet Holdings Inc. will post $7.96 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, July 29th. Stockholders of record on Friday, June 24th will be given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.77%. The ex-dividend date is Wednesday, June 22nd.
In other news, CFO Daniel P. Florin sold 15,000 shares of the company’s stock in a transaction dated Monday, July 11th. The shares were sold at an average price of $124.98, for a total value of $1,874,700.00. Following the sale, the chief financial officer now directly owns 16,983 shares of the company’s stock, valued at approximately $2,122,535.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Stuart G. Kleopfer sold 11,000 shares of the company’s stock in a transaction dated Thursday, June 9th. The stock was sold at an average price of $119.45, for a total transaction of $1,313,950.00. Following the completion of the sale, the insider now directly owns 7,609 shares in the company, valued at $908,895.05. The disclosure for this sale can be found here.
Several hedge funds have added to or reduced their stakes in ZBH. Vanguard Group Inc. acquired a new stake in Zimmer Biomet Holdings during the fourth quarter worth $1,006,696,000. Eaton Vance Management purchased a new position in shares of Zimmer Biomet Holdings during the fourth quarter worth about $86,854,000. Jennison Associates LLC purchased a new position in shares of Zimmer Biomet Holdings during the fourth quarter worth about $71,968,000. Levin Capital Strategies L.P. purchased a new position in shares of Zimmer Biomet Holdings during the fourth quarter worth about $69,610,000. Finally, Wells Fargo & Company MN purchased a new position in shares of Zimmer Biomet Holdings during the fourth quarter worth about $66,348,000.
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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.