Zimmer Biomet (ZBH) Upgraded at Wells Fargo & Company

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.

Zimmer Biomet (NYSE:ZBH) last posted its earnings results on Wednesday, November 1st. The medical equipment provider reported $1.72 EPS for the quarter, missing the consensus estimate of $1.74 by ($0.02). The company had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.83 billion. Zimmer Biomet had a return on equity of 16.29% and a net margin of 8.36%. The firm’s revenue was down .8% on a year-over-year basis. During the same period last year, the business earned $1.79 earnings per share. analysts predict that Zimmer Biomet will post 8.03 EPS for the current year.

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.

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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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