Today: Today, Zimmer Biomet Holdings Inc. (ZBH) Upgrade to Neutral at Citigroup Inc.

Today, Zimmer Biomet Holdings Inc. (ZBH) Upgrade to Neutral at Citigroup Inc.

Zimmer Biomet Holdings Inc. (NYSE:ZBH) was upgraded by Citigroup Inc. from a “sell” rating to a “neutral” rating in a research note issued to investors on Tuesday, The Fly reports.

Other analysts have also recently issued reports about the stock. Needham & Company LLC raised shares of Zimmer Biomet Holdings from a “buy” rating to a “strong-buy” rating and dropped their target price for the stock from $150.00 to $148.00 in a report on Tuesday, November 1st. SunTrust Banks Inc. assumed coverage on shares of Zimmer Biomet Holdings in a report on Thursday, August 11th. They issued a “buy” rating and a $155.00 price objective on the stock. Leerink Swann reaffirmed an “outperform” rating and issued a $136.00 price objective (down previously from $150.00) on shares of Zimmer Biomet Holdings in a report on Tuesday, November 1st. Jefferies Group reaffirmed a “buy” rating and issued a $150.00 price objective on shares of Zimmer Biomet Holdings in a report on Monday, August 8th. Finally, RBC Capital Markets reaffirmed an “outperform” rating and issued a $130.00 price objective (down previously from $143.00) on shares of Zimmer Biomet Holdings in a report on Tuesday, November 1st. Four equities research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company. Zimmer Biomet Holdings presently has a consensus rating of “Buy” and an average target price of $131.15.

Shares of Zimmer Biomet Holdings (NYSE:ZBH) opened at 101.98 on Tuesday. 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 P/E ratio of 57.10 and a beta of 1.28. Zimmer Biomet Holdings has a 12-month low of $88.27 and a 12-month high of $133.21.

Zimmer Biomet Holdings (NYSE:ZBH) last issued its earnings results on Monday, October 31st. The company reported $1.79 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $1.79. The company had revenue of $1.83 billion for the quarter, compared to analysts’ expectations of $950.20 million. Zimmer Biomet Holdings had a net margin of 3.46% and a return on equity of 16.48%. The firm’s revenue was up 4.0% compared to the same quarter last year. During the same period in the prior year, the company earned $1.64 earnings per share. On average, analysts expect that Zimmer Biomet Holdings will post $7.92 earnings per share for the current fiscal year.

In other news, insider Daniel E. Williamson sold 2,716 shares of the stock in a transaction that occurred on Thursday, September 8th. The shares were sold at an average price of $129.96, for a total value of $352,971.36. Following the completion of the sale, the insider now directly owns 2,000 shares of the company’s stock, valued at $259,920. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.22% of the stock is currently owned by insiders.

A number of institutional investors have recently modified their holdings of ZBH. Liberty Capital Management Inc. acquired a new position in shares of Zimmer Biomet Holdings during the third quarter valued at $108,000. Tower Research Capital LLC TRC raised its position in shares of Zimmer Biomet Holdings by 205.3% in the second quarter. Tower Research Capital LLC TRC now owns 916 shares of the company’s stock valued at $110,000 after buying an additional 616 shares during the last quarter. NEXT Financial Group Inc raised its position in shares of Zimmer Biomet Holdings by 64.5% in the third quarter. NEXT Financial Group Inc now owns 913 shares of the company’s stock valued at $119,000 after buying an additional 358 shares during the last quarter. Global X Management Co. LLC raised its position in shares of Zimmer Biomet Holdings by 238.4% in the second quarter. Global X Management Co. LLC now owns 1,032 shares of the company’s stock valued at $124,000 after buying an additional 727 shares during the last quarter. Finally, Parkside Financial Bank & Trust raised its position in shares of Zimmer Biomet Holdings by 0.5% in the third quarter. Parkside Financial Bank & Trust now owns 964 shares of the company’s stock valued at $125,000 after buying an additional 5 shares during the last quarter. 85.05% of the stock is currently owned by hedge funds and other institutional investors.

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.

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