Royal Bank Of Canada reissued their outperform rating on shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) in a research note issued to investors on Friday, July 14th. They currently have a $140.00 price target on the medical equipment provider’s stock.
Other equities analysts also recently issued research reports about the stock. BMO Capital Markets reissued a buy rating and issued a $136.00 target price on shares of Zimmer Biomet Holdings in a research note on Tuesday, July 11th. Canaccord Genuity reissued a buy rating on shares of Zimmer Biomet Holdings in a research note on Friday, April 28th. Oppenheimer Holdings, Inc. set a $132.00 target price on shares of Zimmer Biomet Holdings and gave the company a buy rating in a research note on Friday, April 28th. Jefferies Group LLC reissued a buy rating and issued a $148.00 target price on shares of Zimmer Biomet Holdings in a research note on Friday, June 30th. Finally, Guggenheim raised shares of Zimmer Biomet Holdings from a neutral rating to a buy rating and set a $157.00 target price on the stock in a research note on Wednesday, July 12th. Four equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. Zimmer Biomet Holdings presently has a consensus rating of Hold and an average price target of $136.90.
Zimmer Biomet Holdings (NYSE:ZBH) opened at 111.70 on Friday. Zimmer Biomet Holdings has a 1-year low of $95.63 and a 1-year high of $133.49. The firm has a 50 day moving average of $124.93 and a 200 day moving average of $121.26. The firm has a market cap of $22.59 billion, a P/E ratio of 31.81 and a beta of 1.20.
Zimmer Biomet Holdings (NYSE:ZBH) last issued its earnings results on Thursday, July 27th. The medical equipment provider reported $2.08 EPS for the quarter, missing the Zacks’ consensus estimate of $2.10 by $0.02. Zimmer Biomet Holdings had a net margin of 9.12% and a return on equity of 16.70%. The business had revenue of $1.95 billion during the quarter, compared to analysts’ expectations of $1.95 billion. During the same period in the prior year, the business posted $2.02 EPS. The business’s revenue was up 1.1% on a year-over-year basis. On average, equities research analysts expect that Zimmer Biomet Holdings will post $8.24 EPS for the current year.
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The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 27th. Shareholders of record on Friday, September 22nd will be issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 0.86%. The ex-dividend date of this dividend is Thursday, September 21st. Zimmer Biomet Holdings’s dividend payout ratio is currently 27.59%.
In other news, VP Tony W. Collins sold 16,986 shares of Zimmer Biomet Holdings stock in a transaction dated Monday, July 31st. The shares were sold at an average price of $121.74, for a total value of $2,067,875.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Sang Yi sold 17,731 shares of Zimmer Biomet Holdings stock in a transaction dated Monday, June 12th. The shares were sold at an average price of $124.56, for a total transaction of $2,208,573.36. The disclosure for this sale can be found here. Insiders own 1.07% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of ZBH. BlackRock Inc. raised its position in Zimmer Biomet Holdings by 4.1% in the second quarter. BlackRock Inc. now owns 17,419,463 shares of the medical equipment provider’s stock valued at $2,236,657,000 after buying an additional 679,080 shares during the period. Vanguard Group Inc. raised its position in Zimmer Biomet Holdings by 2.6% in the second quarter. Vanguard Group Inc. now owns 13,380,517 shares of the medical equipment provider’s stock valued at $1,718,057,000 after buying an additional 339,106 shares during the period. State Street Corp raised its position in Zimmer Biomet Holdings by 2.4% in the first quarter. State Street Corp now owns 8,193,165 shares of the medical equipment provider’s stock valued at $1,000,463,000 after buying an additional 191,747 shares during the period. Longview Partners Guernsey LTD raised its position in Zimmer Biomet Holdings by 4.4% in the second quarter. Longview Partners Guernsey LTD now owns 6,377,711 shares of the medical equipment provider’s stock valued at $818,898,000 after buying an additional 269,184 shares during the period. Finally, Nordea Investment Management AB raised its position in Zimmer Biomet Holdings by 25.0% in the first quarter. Nordea Investment Management AB now owns 4,931,281 shares of the medical equipment provider’s stock valued at $602,159,000 after buying an additional 987,398 shares during the period. 83.62% of the stock is owned by institutional investors and hedge funds.
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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