Zimmer Biomet Holdings Inc. (NYSE:ZBH) was upgraded by research analysts at Citigroup Inc. from a “sell” rating to a “neutral” rating in a report issued on Tuesday, The Fly reports.
Other equities research analysts have also issued research reports about the stock. Royal Bank Of Canada decreased their price objective on shares of Zimmer Biomet Holdings from $143.00 to $130.00 and set an “outperform” rating for the company in a report on Tuesday, November 1st. Northcoast Research lowered shares of Zimmer Biomet Holdings from a “buy” rating to a “neutral” rating in a report on Tuesday, November 8th. RBC Capital Markets set a $143.00 target price on shares of Zimmer Biomet Holdings and gave the company a “buy” rating in a research report on Wednesday, September 14th. Barclays PLC lifted their target price on shares of Zimmer Biomet Holdings from $140.00 to $145.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 23rd. Finally, Argus reiterated a “buy” rating and issued a $140.00 target price on shares of Zimmer Biomet Holdings in a research note on Thursday, September 22nd. Four investment analysts have rated the stock with a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $131.15.
Zimmer Biomet Holdings (NYSE:ZBH) opened at 101.98 on Tuesday. Zimmer Biomet Holdings has a 12 month low of $88.27 and a 12 month high of $133.21. The company’s 50 day moving average is $112.33 and its 200 day moving average is $121.63. The stock has a market cap of $20.43 billion, a PE ratio of 57.10 and a beta of 1.28.
Zimmer Biomet Holdings (NYSE:ZBH) last released its quarterly earnings data on Monday, October 31st. The company reported $1.79 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.79. Zimmer Biomet Holdings had a net margin of 3.46% and a return on equity of 16.48%. The business earned $1.83 billion during the quarter, compared to analyst estimates of $950.20 million. During the same quarter last year, the business earned $1.64 earnings per share. Zimmer Biomet Holdings’s quarterly revenue was up 4.0% compared to the same quarter last year. On average, analysts anticipate that Zimmer Biomet Holdings will post $7.92 EPS for the current fiscal year.
In related news, insider Daniel E. Williamson sold 2,716 shares of the company’s stock in a transaction that occurred on Thursday, September 8th. The shares were sold at an average price of $129.96, for a total transaction of $352,971.36. Following the sale, the insider now directly owns 2,000 shares in the company, valued at $259,920. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.22% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in ZBH. Orrstown Financial Services Inc. purchased a new stake in Zimmer Biomet Holdings during the fourth quarter worth $1,244,000. First National Bank & Trust Co. of Newtown purchased a new stake in Zimmer Biomet Holdings during the fourth quarter worth $405,000. Nordea Investment Management AB purchased a new stake in Zimmer Biomet Holdings during the fourth quarter worth $366,027,000. BTIM Corp. purchased a new stake in Zimmer Biomet Holdings during the fourth quarter worth $1,864,000. Finally, Oakbrook Investments LLC purchased a new stake in Zimmer Biomet Holdings during the fourth quarter worth $1,967,000. Hedge funds and other institutional investors own 85.05% of the company’s stock.
About Zimmer Biomet Holdings
Zimmer Biomet Holdings, Inc, formerly Zimmer Holdings, Inc, is engaged designing, manufacturing and marketing orthopaedic reconstructive products; sports medicine, biologics, extremities and trauma products; spine, bone healing, craniomaxillofacial and thoracic products; dental implants, and related surgical products.