Zimmer Biomet (ZBH) Lifted to Buy at ValuEngine

ValuEngine upgraded shares of Zimmer Biomet (NYSE:ZBH) from a hold rating to a buy rating in a report issued on Thursday morning.

ZBH has been the topic of several other research reports. Royal Bank of Canada cut their target price on shares of Zimmer Biomet to $125.00 and set an outperform rating on the stock in a report on Tuesday, November 7th. Zacks Investment Research cut shares of Zimmer Biomet from a hold rating to a sell rating in a report on Monday, November 6th. BMO Capital Markets cut their target price on shares of Zimmer Biomet from $140.00 to $135.00 and set an outperform rating on the stock in a report on Thursday, November 2nd. Jefferies Group reiterated a buy rating and issued a $136.00 price target on shares of Zimmer Biomet in a report on Friday, November 3rd. Finally, Canaccord Genuity reiterated a hold rating and issued a $125.00 price target on shares of Zimmer Biomet in a report on Tuesday, December 19th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company. The company has an average rating of Buy and a consensus target price of $137.42.

Zimmer Biomet (NYSE ZBH) opened at $122.10 on Thursday. The company has a market cap of $24,721.95, a P/E ratio of 38.40, a price-to-earnings-growth ratio of 1.90 and a beta of 1.15. Zimmer Biomet has a one year low of $108.03 and a one year high of $133.49. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.78 and a current ratio of 1.47.

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

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 29th. Shareholders of record on Friday, December 29th will be given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 0.79%. The ex-dividend date of this dividend is Thursday, December 28th. Zimmer Biomet’s dividend payout ratio is currently 30.19%.

Several institutional investors and hedge funds have recently bought and sold shares of ZBH. Los Angeles Capital Management & Equity Research Inc. raised its position in shares of Zimmer Biomet by 99.6% in the 2nd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 9,942 shares of the medical equipment provider’s stock worth $1,277,000 after purchasing an additional 4,960 shares during the last quarter. Schroder Investment Management Group purchased a new position in shares of Zimmer Biomet in the 2nd quarter worth about $4,783,000. CIBC World Markets Inc. purchased a new position in shares of Zimmer Biomet in the 2nd quarter worth about $270,000. Aberdeen Asset Management PLC UK raised its position in shares of Zimmer Biomet by 6.7% in the 2nd quarter. Aberdeen Asset Management PLC UK now owns 47,505 shares of the medical equipment provider’s stock worth $6,099,000 after purchasing an additional 2,995 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. raised its position in shares of Zimmer Biomet by 7.2% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 5,735 shares of the medical equipment provider’s stock worth $736,000 after purchasing an additional 385 shares during the last quarter. 85.92% of the stock is owned by hedge funds and other institutional investors.

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About Zimmer Biomet

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Zimmer Biomet (NYSE:ZBH)

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