Zimmer Biomet’s (ZBH) Buy Rating Reiterated at Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of Zimmer Biomet (NYSE:ZBH) in a report published on Tuesday morning, AnalystRatings.com reports. The brokerage currently has a $170.00 price target on the medical equipment provider’s stock.

Other equities analysts have also recently issued research reports about the stock. BTIG Research raised shares of Zimmer Biomet from a neutral rating to a buy rating and set a $158.00 price target on the stock in a research report on Monday, October 7th. Jefferies Financial Group raised their price objective on shares of Zimmer Biomet from $150.00 to $167.00 and gave the stock a buy rating in a research note on Monday, July 29th. They noted that the move was a valuation call. Citigroup raised their price objective on shares of Zimmer Biomet from $146.00 to $158.00 and gave the stock a buy rating in a research note on Friday, August 2nd. Morgan Stanley raised their price objective on shares of Zimmer Biomet from $143.00 to $150.00 and gave the stock an overweight rating in a research note on Monday, July 29th. Finally, ValuEngine lowered shares of Zimmer Biomet from a buy rating to a hold rating in a research note on Wednesday, August 21st. One research analyst has rated the stock with a sell rating, six have given a hold rating and nineteen have assigned a buy rating to the stock. Zimmer Biomet has an average rating of Buy and an average price target of $147.95.

Shares of Zimmer Biomet stock traded up $2.07 during trading hours on Tuesday, reaching $144.00. 1,024,800 shares of the company’s stock were exchanged, compared to its average volume of 1,183,991. Zimmer Biomet has a 52-week low of $96.99 and a 52-week high of $144.96. The firm has a market capitalization of $28.81 billion, a price-to-earnings ratio of 18.85, a price-to-earnings-growth ratio of 2.66 and a beta of 1.14. The company has a fifty day moving average of $137.06 and a 200-day moving average of $128.64. The company has a current ratio of 1.19, a quick ratio of 0.56 and a debt-to-equity ratio of 0.58.

Zimmer Biomet (NYSE:ZBH) last issued its quarterly earnings results on Tuesday, November 5th. The medical equipment provider reported $1.77 earnings per share for the quarter, topping analysts’ consensus estimates 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 company had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.87 billion. During the same quarter in the prior year, the company posted $1.63 EPS. The business’s revenue for the quarter was up 3.0% compared to the same quarter last year. On average, equities research analysts anticipate that Zimmer Biomet will post 7.83 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, September 30th were issued a dividend of $0.24 per share. The ex-dividend date of this dividend was Friday, September 27th. This represents a $0.96 annualized dividend and a dividend yield of 0.67%. Zimmer Biomet’s payout ratio is 12.57%.

In other news, VP Chad F. Phipps sold 7,000 shares of the company’s stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $138.28, for a total transaction of $967,960.00. Following the transaction, the vice president now directly owns 37,722 shares in the company, valued at $5,216,198.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available 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 transaction of $50,130.00. Following the sale, the insider now directly owns 1,194 shares of the company’s stock, valued at $166,264.50. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 40,244 shares of company stock worth $5,621,885. Insiders own 0.72% of the company’s stock.

A number of large investors have recently modified their holdings of the business. Personal Wealth Partners acquired a new stake in shares of Zimmer Biomet in the 2nd quarter valued at approximately $26,000. TRUE Private Wealth Advisors acquired a new position in shares of Zimmer Biomet in the 2nd quarter worth approximately $26,000. Allworth Financial LP lifted its position in shares of Zimmer Biomet by 65.0% in the 3rd quarter. Allworth Financial LP now owns 203 shares of the medical equipment provider’s stock worth $28,000 after purchasing an additional 80 shares during the period. Coastal Investment Advisors Inc. lifted its position in shares of Zimmer Biomet by 271.0% in the 2nd quarter. Coastal Investment Advisors Inc. now owns 256 shares of the medical equipment provider’s stock worth $30,000 after purchasing an additional 187 shares during the period. Finally, Private Ocean LLC lifted its position in shares of Zimmer Biomet by 34.8% in the 2nd quarter. Private Ocean LLC now owns 310 shares of the medical equipment provider’s stock worth $36,000 after purchasing an additional 80 shares during the period. 87.72% of the stock is 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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Analyst Recommendations for Zimmer Biomet (NYSE:ZBH)

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