Zimmer Biomet (NYSE:ZBH) PT Raised to $160.00

Zimmer Biomet (NYSE:ZBH) had its target price raised by Leerink Swann from $155.00 to $160.00 in a research report sent to investors on Wednesday morning, The Fly reports. Leerink Swann currently has an outperform rating on the medical equipment provider’s stock. The analysts noted that the move was a valuation call.

Other equities analysts have also recently issued research reports about the company. Cowen set a $140.00 price objective on Zimmer Biomet and gave the company a buy rating in a report on Monday, September 23rd. Credit Suisse Group lifted their price objective on Zimmer Biomet from $101.00 to $120.00 and gave the company an underperform rating in a report on Monday, July 29th. BTIG Research upgraded Zimmer Biomet from a neutral rating to a buy rating and set a $158.00 price objective on the stock in a report on Monday, October 7th. Barclays upgraded Zimmer Biomet from an underweight rating to an equal weight rating and lifted their price objective for the company from $117.00 to $140.00 in a report on Tuesday, July 30th. Finally, Needham & Company LLC reiterated a buy rating and set a $170.00 price objective on shares of Zimmer Biomet in a report on Tuesday, November 5th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and nineteen have given a buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus price target of $147.95.

ZBH traded up $2.07 during midday trading on Wednesday, reaching $144.00. 1,024,800 shares of the company were exchanged, compared to its average volume of 1,183,991. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.56 and a current ratio of 1.19. Zimmer Biomet has a one year low of $96.99 and a one year high of $144.96. The stock has a market capitalization of $28.81 billion, a P/E ratio of 18.85, a PEG ratio of 2.66 and a beta of 1.14. The stock’s 50-day simple moving average is $137.06 and its 200 day simple moving average is $128.64.

Zimmer Biomet (NYSE:ZBH) last released its quarterly earnings data on Tuesday, November 5th. The medical equipment provider reported $1.77 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.75 by $0.02. Zimmer Biomet had a positive return on equity of 13.89% and a negative net margin of 1.14%. The business had revenue of $1.89 billion for the quarter, compared to analysts’ expectations of $1.87 billion. During the same quarter in the previous year, the business posted $1.63 EPS. Zimmer Biomet’s revenue for the quarter was up 3.0% on a year-over-year basis. On average, research analysts anticipate that Zimmer Biomet will post 7.83 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Monday, September 30th were given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 0.67%. The ex-dividend date was Friday, September 27th. Zimmer Biomet’s dividend payout ratio is presently 12.57%.

In other Zimmer Biomet news, VP Chad F. Phipps sold 32,800 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $140.00, for a total transaction of $4,592,000.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Didier Deltort sold 360 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $139.25, for a total value of $50,130.00. Following the transaction, the insider now directly owns 1,194 shares in the company, valued at approximately $166,264.50. The disclosure for this sale can be found here. In the last three months, insiders sold 40,244 shares of company stock worth $5,621,885. 0.72% of the stock is owned by insiders.

Several large investors have recently bought and sold shares of the business. First Allied Advisory Services Inc. increased its position in shares of Zimmer Biomet by 5.8% during the 3rd quarter. First Allied Advisory Services Inc. now owns 4,177 shares of the medical equipment provider’s stock worth $579,000 after purchasing an additional 228 shares during the last quarter. Rational Advisors LLC increased its holdings in shares of Zimmer Biomet by 32.5% during the 3rd quarter. Rational Advisors LLC now owns 538 shares of the medical equipment provider’s stock worth $74,000 after acquiring an additional 132 shares during the last quarter. Corient Capital Partners LLC acquired a new position in shares of Zimmer Biomet during the 3rd quarter worth approximately $303,000. Great Lakes Advisors LLC acquired a new position in shares of Zimmer Biomet during the 3rd quarter worth approximately $2,405,000. Finally, Tamarack Advisers LP increased its holdings in shares of Zimmer Biomet by 77.8% during the 3rd quarter. Tamarack Advisers LP now owns 160,000 shares of the medical equipment provider’s stock worth $21,963,000 after acquiring an additional 70,000 shares during the last quarter. 87.72% of the stock is currently owned by hedge funds and other institutional investors.

About Zimmer Biomet

Zimmer Biomet Holdings, Inc, together with its subsidiaries, designs, manufactures, and markets musculoskeletal healthcare products and solutions in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. It operates through four segments: Spine, less Asia Pacific; Office Based Technologies; Craniomaxillofacial and Thoracic; and Dental.

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