Zimmer Biomet Holdings, Inc. (ZBH) Receives “Buy” Rating from Piper Jaffray Companies
Piper Jaffray Companies reissued their buy rating on shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) in a report issued on Friday morning. Piper Jaffray Companies currently has a $141.00 target price on the medical equipment provider’s stock.
Several other research analysts also recently weighed in on ZBH. Zacks Investment Research downgraded Zimmer Biomet Holdings from a hold rating to a sell rating in a report on Thursday, April 13th. Canaccord Genuity reiterated a buy rating on shares of Zimmer Biomet Holdings in a report on Friday, April 28th. Royal Bank Of Canada boosted their price target on Zimmer Biomet Holdings from $133.00 to $140.00 and gave the company an outperform rating in a report on Wednesday, June 21st. Bank of America Corporation reiterated a buy rating and issued a $158.00 price target on shares of Zimmer Biomet Holdings in a report on Friday. Finally, Needham & Company LLC reiterated a strong-buy rating and issued a $153.00 price target on shares of Zimmer Biomet Holdings in a report on Wednesday, July 12th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of Buy and an average price target of $137.77.
Zimmer Biomet Holdings (NYSE:ZBH) traded up 0.09% during midday trading on Friday, hitting $132.61. The company had a trading volume of 943,330 shares. The stock’s 50-day moving average price is $123.43 and its 200-day moving average price is $117.75. Zimmer Biomet Holdings has a 52-week low of $95.63 and a 52-week high of $133.49. The stock has a market cap of $26.74 billion, a PE ratio of 54.28 and a beta of 1.21.
Zimmer Biomet Holdings (NYSE:ZBH) last posted its earnings results on Thursday, April 27th. The medical equipment provider reported $2.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.11 by $0.02. Zimmer Biomet Holdings had a return on equity of 16.80% and a net margin of 6.36%. The firm had revenue of $1.98 billion for the quarter, compared to analyst estimates of $1.96 billion. During the same quarter in the prior year, the company earned $2.00 EPS. Zimmer Biomet Holdings’s revenue was up 3.8% on a year-over-year basis. On average, equities research analysts expect that Zimmer Biomet Holdings will post $8.52 EPS for the current fiscal year.
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The business also recently declared a quarterly dividend, which will be paid on Friday, July 28th. Stockholders of record on Friday, June 23rd will be given a dividend of $0.24 per share. The ex-dividend date is Wednesday, June 21st. This represents a $0.96 annualized dividend and a dividend yield of 0.72%. Zimmer Biomet Holdings’s payout ratio is 39.67%.
In related news, insider David C. Dvorak sold 87,331 shares of the stock in a transaction dated Thursday, April 27th. The shares were sold at an average price of $116.47, for a total transaction of $10,171,441.57. Following the sale, the insider now owns 381,886 shares in the company, valued at $44,478,262.42. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Chad F. Phipps sold 6,200 shares of the stock in a transaction dated Friday, May 5th. The stock was sold at an average price of $116.76, for a total transaction of $723,912.00. The disclosure for this sale can be found here. Insiders have sold 111,262 shares of company stock worth $13,103,927 in the last ninety days. Corporate insiders own 1.07% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the company. Thrivent Financial for Lutherans raised its stake in Zimmer Biomet Holdings by 6.7% in the fourth quarter. Thrivent Financial for Lutherans now owns 7,144 shares of the medical equipment provider’s stock valued at $737,000 after buying an additional 450 shares during the period. Numeric Investors LLC raised its stake in Zimmer Biomet Holdings by 60.0% in the fourth quarter. Numeric Investors LLC now owns 4,800 shares of the medical equipment provider’s stock valued at $495,000 after buying an additional 1,800 shares during the period. Auxier Asset Management raised its stake in Zimmer Biomet Holdings by 3.3% in the fourth quarter. Auxier Asset Management now owns 86,514 shares of the medical equipment provider’s stock valued at $8,928,000 after buying an additional 2,750 shares during the period. Kentucky Retirement Systems acquired a new stake in Zimmer Biomet Holdings during the fourth quarter valued at $1,500,000. Finally, Kentucky Retirement Systems Insurance Trust Fund acquired a new stake in Zimmer Biomet Holdings during the fourth quarter valued at $669,000. Hedge funds and other institutional investors own 84.19% of the company’s stock.
About Zimmer Biomet Holdings
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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