Zimmer Biomet Holdings, Inc. (NYSE:ZBH) Rating Reiterated by Royal Bank Of Canada

Royal Bank Of Canada restated their outperform rating on shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) in a report issued on Friday, July 14th. The firm currently has a $140.00 price objective on the medical equipment provider’s stock.

A number of other analysts have also recently commented on the company. Needham & Company LLC boosted their price target on Zimmer Biomet Holdings from $151.00 to $153.00 and gave the stock a strong-buy rating in a research report on Friday, April 28th. Oppenheimer Holdings, Inc. set a $132.00 price target on Zimmer Biomet Holdings and gave the stock a buy rating in a research report on Friday, April 28th. Zacks Investment Research cut Zimmer Biomet Holdings from a hold rating to a sell rating in a research report on Tuesday, April 4th. Goldman Sachs Group, Inc. (The) initiated coverage on Zimmer Biomet Holdings in a research report on Tuesday, May 16th. They issued a sell rating and a $92.00 price objective on the stock. Finally, Wells Fargo & Company cut Zimmer Biomet Holdings from an outperform rating to a market perform rating in a report on Friday, April 28th. Four investment analysts have rated the stock with a sell rating, seven have issued a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of Hold and an average target price of $137.76.

Shares of Zimmer Biomet Holdings (NYSE:ZBH) traded up 0.66% on Friday, reaching $117.93. The company’s stock had a trading volume of 1,698,086 shares. The company has a market cap of $23.80 billion, a P/E ratio of 33.59 and a beta of 1.20. The company’s 50 day moving average price is $127.65 and its 200 day moving average price is $121.39. Zimmer Biomet Holdings has a 12-month low of $95.63 and a 12-month high of $133.49.

Zimmer Biomet Holdings (NYSE:ZBH) last posted its earnings results on Thursday, July 27th. The medical equipment provider reported $2.08 earnings per share for the quarter, missing analysts’ consensus estimates of $2.10 by $0.02. Zimmer Biomet Holdings had a return on equity of 16.70% and a net margin of 9.12%. The firm had revenue of $1.95 billion for the quarter, compared to analysts’ expectations of $1.95 billion. During the same quarter last year, the company posted $2.02 EPS. The firm’s revenue was up 1.1% on a year-over-year basis. Analysts forecast that Zimmer Biomet Holdings will post $8.24 EPS for the current fiscal year.

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The firm also recently announced a quarterly dividend, which was paid on Friday, July 28th. Investors of record on Friday, June 23rd were given a dividend of $0.24 per share. The ex-dividend date of this dividend was Wednesday, June 21st. This represents a $0.96 dividend on an annualized basis and a yield of 0.81%. Zimmer Biomet Holdings’s dividend payout ratio is presently 27.59%.

In other Zimmer Biomet Holdings news, VP Tony W. Collins sold 16,986 shares of Zimmer Biomet Holdings stock in a transaction on Monday, July 31st. The shares were sold at an average price of $121.74, for a total value of $2,067,875.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Sang Yi sold 17,731 shares of Zimmer Biomet Holdings stock in a transaction on Monday, June 12th. The shares were sold at an average price of $124.56, for a total transaction of $2,208,573.36. The disclosure for this sale can be found here. Insiders own 1.07% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the company. Enterprise Financial Services Corp boosted its stake in Zimmer Biomet Holdings by 0.3% in the second quarter. Enterprise Financial Services Corp now owns 2,646 shares of the medical equipment provider’s stock worth $340,000 after buying an additional 9 shares in the last quarter. Alpha Windward LLC boosted its stake in Zimmer Biomet Holdings by 1.1% in the first quarter. Alpha Windward LLC now owns 1,651 shares of the medical equipment provider’s stock worth $202,000 after buying an additional 18 shares in the last quarter. Sandy Spring Bank boosted its stake in shares of Zimmer Biomet Holdings by 1.7% in the first quarter. Sandy Spring Bank now owns 1,222 shares of the medical equipment provider’s stock valued at $149,000 after buying an additional 20 shares in the last quarter. Parkside Financial Bank & Trust boosted its stake in shares of Zimmer Biomet Holdings by 2.7% in the first quarter. Parkside Financial Bank & Trust now owns 839 shares of the medical equipment provider’s stock valued at $102,000 after buying an additional 22 shares in the last quarter. Finally, Cleararc Capital Inc. boosted its stake in shares of Zimmer Biomet Holdings by 0.5% in the first quarter. Cleararc Capital Inc. now owns 4,897 shares of the medical equipment provider’s stock valued at $598,000 after buying an additional 25 shares in the last quarter. 84.13% of the stock is owned by institutional investors and hedge funds.

Zimmer Biomet Holdings 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.