Wells Fargo & Company upgraded shares of Zimmer Biomet (NYSE:ZBH) from a market perform rating to an outperform rating in a research note issued to investors on Tuesday, MarketBeat.com reports.
ZBH has been the topic of several other reports. SunTrust Banks set a $136.00 price objective on Zimmer Biomet and gave the company a buy rating in a report on Wednesday, November 1st. Royal Bank of Canada dropped their price objective on Zimmer Biomet to $125.00 and set an outperform rating on the stock in a report on Tuesday, November 7th. Morgan Stanley dropped their price objective on Zimmer Biomet from $146.00 to $136.00 and set an overweight rating on the stock in a report on Thursday, November 2nd. BMO Capital Markets dropped their price objective on Zimmer Biomet from $140.00 to $135.00 and set an outperform rating on the stock in a report on Thursday, November 2nd. Finally, Deutsche Bank raised Zimmer Biomet from a hold rating to a buy rating and set a $128.00 price objective on the stock in a report on Tuesday, November 14th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Zimmer Biomet has a consensus rating of Buy and a consensus price target of $136.90.
Shares of Zimmer Biomet (NYSE:ZBH) opened at $119.95 on Tuesday. The company has a market capitalization of $24,576.18, a PE ratio of 15.04, a P/E/G ratio of 1.89 and a beta of 1.15. Zimmer Biomet has a 1-year low of $100.87 and a 1-year high of $133.49. The company has a current ratio of 1.47, a quick ratio of 0.78 and a debt-to-equity ratio of 0.88.
The company also recently announced a quarterly dividend, which will be paid on Monday, January 29th. Stockholders of record on Friday, December 29th will be given a $0.24 dividend. The ex-dividend date is Thursday, December 28th. This represents a $0.96 annualized dividend and a dividend yield of 0.80%. Zimmer Biomet’s dividend payout ratio (DPR) is presently 30.19%.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bronfman E.L. Rothschild L.P. lifted its position in Zimmer Biomet by 25.3% during the second quarter. Bronfman E.L. Rothschild L.P. now owns 827 shares of the medical equipment provider’s stock worth $106,000 after buying an additional 167 shares in the last quarter. Bank of Nova Scotia Trust Co. purchased a new position in Zimmer Biomet during the third quarter worth approximately $112,000. FNY Managed Accounts LLC purchased a new position in Zimmer Biomet during the third quarter worth approximately $117,000. Steward Partners Investment Advisory LLC purchased a new position in Zimmer Biomet during the third quarter worth approximately $140,000. Finally, BB&T Investment Services Inc. purchased a new position in Zimmer Biomet during the second quarter worth approximately $144,000. Institutional investors and hedge funds own 85.92% of the company’s stock.
Zimmer Biomet 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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