Zimmer Biomet (NYSE:ZBH) Upgraded by Argus to “Buy”

Argus upgraded shares of Zimmer Biomet (NYSE:ZBH) from a hold rating to a buy rating in a research note released on Tuesday morning, MarketBeat Ratings reports. The firm currently has $150.00 price objective on the medical equipment provider’s stock.

ZBH has been the topic of several other reports. TheStreet raised Zimmer Biomet from a c rating to a b- rating in a research note on Thursday, February 8th. StockNews.com cut shares of Zimmer Biomet from a strong-buy rating to a buy rating in a research report on Monday, February 19th. Oppenheimer increased their price target on shares of Zimmer Biomet from $150.00 to $155.00 and gave the stock an outperform rating in a research note on Friday, May 3rd. Citigroup lifted their price objective on Zimmer Biomet from $134.00 to $140.00 and gave the company a neutral rating in a research report on Wednesday, April 3rd. Finally, Canaccord Genuity Group reissued a hold rating and issued a $130.00 target price on shares of Zimmer Biomet in a research report on Friday, February 23rd. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of Hold and an average price target of $134.40.

Zimmer Biomet Price Performance

Shares of Zimmer Biomet stock opened at $116.41 on Tuesday. The stock has a market capitalization of $23.95 billion, a P/E ratio of 25.20, a price-to-earnings-growth ratio of 2.09 and a beta of 1.03. Zimmer Biomet has a one year low of $102.00 and a one year high of $147.50. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.66 and a quick ratio of 0.80. The business’s 50 day simple moving average is $123.45 and its two-hundred day simple moving average is $121.51.

Zimmer Biomet (NYSE:ZBH) last announced its quarterly earnings results on Thursday, May 2nd. The medical equipment provider reported $1.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.87 by $0.07. The business had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.87 billion. Zimmer Biomet had a net margin of 12.93% and a return on equity of 12.70%. The company’s revenue was up 3.2% on a year-over-year basis. During the same quarter last year, the firm earned $1.89 EPS. Analysts forecast that Zimmer Biomet will post 8.1 EPS for the current year.

Zimmer Biomet Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Wednesday, June 26th will be issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.82%. The ex-dividend date is Wednesday, June 26th. Zimmer Biomet’s payout ratio is currently 20.78%.

Hedge Funds Weigh In On Zimmer Biomet

A number of hedge funds have recently bought and sold shares of ZBH. Norges Bank bought a new position in Zimmer Biomet during the fourth quarter valued at approximately $266,896,000. Price T Rowe Associates Inc. MD raised its stake in Zimmer Biomet by 12.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 10,642,801 shares of the medical equipment provider’s stock valued at $1,404,638,000 after buying an additional 1,215,935 shares during the last quarter. American Century Companies Inc. boosted its stake in shares of Zimmer Biomet by 21.2% in the 3rd quarter. American Century Companies Inc. now owns 4,863,741 shares of the medical equipment provider’s stock worth $545,809,000 after buying an additional 852,186 shares during the last quarter. Boston Partners grew its holdings in shares of Zimmer Biomet by 29.2% in the third quarter. Boston Partners now owns 2,694,832 shares of the medical equipment provider’s stock worth $302,366,000 after acquiring an additional 608,959 shares during the period. Finally, Barclays PLC increased its position in Zimmer Biomet by 129.2% during the third quarter. Barclays PLC now owns 1,072,494 shares of the medical equipment provider’s stock valued at $120,356,000 after acquiring an additional 604,652 shares during the last quarter. Hedge funds and other institutional investors own 88.89% of the company’s stock.

Zimmer Biomet Company Profile

Zimmer Biomet Holdings, Inc, together with its subsidiaries, operates as a medical technology company worldwide. The company designs, manufactures, and markets orthopedic reconstructive products, such as knee and hip products; S.E.T. products, including sports medicine, biologics, foot and ankle, extremities, and trauma products; craniomaxillofacial and thoracic products comprising face and skull reconstruction products, as well as products that fixate and stabilize the bones of the chest to facilitate healing or reconstruction after open heart surgery, trauma, or for deformities of the chest.