Zimmer Biomet Holdings’ (NYSE:ZBH) “Outperform” Rating Reaffirmed at Royal Bank Of Canada

Royal Bank Of Canada reaffirmed their outperform rating on shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) in a research report sent to investors on Friday. They currently have a $140.00 price target on the medical equipment provider’s stock.

A number of other research analysts have also commented on the stock. Needham & Company LLC raised their price objective on shares of Zimmer Biomet Holdings from $151.00 to $153.00 and gave the company a strong-buy rating in a research note on Friday, April 28th. Oppenheimer Holdings, Inc. set a $132.00 price objective on shares of Zimmer Biomet Holdings and gave the company a buy rating in a research note on Friday, April 28th. Zacks Investment Research lowered shares of Zimmer Biomet Holdings from a hold rating to a sell rating in a research note on Tuesday, April 4th. Goldman Sachs Group, Inc. (The) initiated coverage on shares of Zimmer Biomet Holdings in a research note on Tuesday, May 16th. They set a sell rating and a $92.00 price objective on the stock. Finally, Wells Fargo & Company lowered shares of Zimmer Biomet Holdings from an outperform rating to a market perform rating in a research note on Friday, April 28th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of Buy and a consensus target price of $137.77.

Zimmer Biomet Holdings (NYSE:ZBH) traded up 0.09% during trading on Friday, reaching $132.61. The company’s stock had a trading volume of 943,330 shares. The firm has a 50 day moving average of $123.43 and a 200 day moving average of $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 capitalization of $26.74 billion, a price-to-earnings ratio of 54.28 and a beta of 1.21.

Zimmer Biomet Holdings (NYSE:ZBH) last posted its quarterly earnings data on Thursday, April 27th. The medical equipment provider reported $2.13 EPS for the quarter, beating the Zacks’ consensus estimate of $2.11 by $0.02. Zimmer Biomet Holdings had a net margin of 6.36% and a return on equity of 16.80%. The business had revenue of $1.98 billion for the quarter, compared to analyst estimates of $1.96 billion. During the same quarter last year, the business earned $2.00 earnings per share. The business’s revenue for the quarter was up 3.8% on a year-over-year basis. Analysts expect that Zimmer Biomet Holdings will post $8.52 EPS for the current year.

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The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 28th. Investors of record on Friday, June 23rd will be paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 0.72%. The ex-dividend date of this dividend is Wednesday, June 21st. Zimmer Biomet Holdings’s dividend payout ratio is 39.67%.

In other Zimmer Biomet Holdings news, insider Sang Yi sold 17,731 shares of Zimmer Biomet Holdings stock in a transaction on Monday, June 12th. The shares were sold at an average price of $124.56, for a total transaction of $2,208,573.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Chad F. Phipps sold 6,200 shares of Zimmer Biomet Holdings stock in a transaction on Friday, May 5th. The shares were 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 sold a total of 111,262 shares of company stock valued at $13,103,927 in the last ninety days. Company insiders own 1.07% of the company’s stock.

Large investors have recently modified their holdings of the stock. Norway Savings Bank raised its stake in shares of Zimmer Biomet Holdings by 5.3% in the second quarter. Norway Savings Bank now owns 7,640 shares of the medical equipment provider’s stock worth $981,000 after buying an additional 385 shares during the period. Reinhart Partners Inc. raised its stake in shares of Zimmer Biomet Holdings by 4.4% in the second quarter. Reinhart Partners Inc. now owns 5,960 shares of the medical equipment provider’s stock worth $765,000 after buying an additional 250 shares during the period. CENTRAL TRUST Co raised its stake in shares of Zimmer Biomet Holdings by 4.7% in the second quarter. CENTRAL TRUST Co now owns 5,295 shares of the medical equipment provider’s stock worth $680,000 after buying an additional 240 shares during the period. Mn Services Vermogensbeheer B.V. raised its stake in shares of Zimmer Biomet Holdings by 508.7% in the second quarter. Mn Services Vermogensbeheer B.V. now owns 32,518 shares of the medical equipment provider’s stock worth $4,175,000 after buying an additional 27,176 shares during the period. Finally, Jacobs & Co. CA raised its stake in shares of Zimmer Biomet Holdings by 3.7% in the second quarter. Jacobs & Co. CA now owns 38,486 shares of the medical equipment provider’s stock worth $4,941,000 after buying an additional 1,384 shares during the period. 84.19% of the stock is owned by institutional investors.

Zimmer Biomet Holdings Company Profile

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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