Zimmer Biomet (NYSE:ZBH) Upgraded by UBS Group to “Strong-Buy” Rating

UBS Group upgraded shares of Zimmer Biomet (NYSE:ZBH) to a strong-buy rating in a research report sent to investors on Tuesday,Zacks.com reports.

Several other research analysts have also issued reports on ZBH. Weiss Ratings lowered shares of Zimmer Biomet from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, July 20th. Citigroup dropped their price target on shares of Zimmer Biomet from $95.00 to $93.00 and set a “neutral” rating for the company in a research note on Thursday, May 28th. Canaccord Genuity Group set a $83.00 price objective on shares of Zimmer Biomet in a report on Wednesday, April 29th. Barclays reduced their price objective on shares of Zimmer Biomet from $100.00 to $94.00 and set an “underweight” rating on the stock in a research note on Wednesday, April 29th. Finally, Wall Street Zen raised shares of Zimmer Biomet from a “hold” rating to a “buy” rating in a report on Saturday. Two analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, twelve have given a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $102.00.

Zimmer Biomet Price Performance

Zimmer Biomet stock opened at $95.57 on Tuesday. The business’s 50-day simple moving average is $88.23 and its 200 day simple moving average is $89.79. The stock has a market cap of $18.49 billion, a price-to-earnings ratio of 24.82, a P/E/G ratio of 2.71 and a beta of 0.46. Zimmer Biomet has a 12-month low of $79.12 and a 12-month high of $108.29. The company has a quick ratio of 0.95, a current ratio of 1.73 and a debt-to-equity ratio of 0.50.

Zimmer Biomet (NYSE:ZBH) last announced its quarterly earnings data on Tuesday, April 28th. The medical equipment provider reported $2.09 EPS for the quarter, topping analysts’ consensus estimates of $1.86 by $0.23. The firm had revenue of $2.09 billion during the quarter, compared to analyst estimates of $2.07 billion. Zimmer Biomet had a return on equity of 13.24% and a net margin of 9.05%.The company’s revenue was up 9.3% on a year-over-year basis. During the same period last year, the company earned $1.81 earnings per share. As a group, research analysts anticipate that Zimmer Biomet will post 8.48 earnings per share for the current year.

Zimmer Biomet Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Thursday, June 25th will be given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Thursday, June 25th. Zimmer Biomet’s payout ratio is presently 24.94%.

Insider Activity at Zimmer Biomet

In related news, insider Sang Yi sold 5,000 shares of the stock in a transaction that occurred on Friday, May 29th. The shares were sold at an average price of $82.64, for a total value of $413,200.00. Following the sale, the insider directly owned 27,251 shares in the company, valued at $2,252,022.64. This trade represents a 15.50% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 1.28% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Main Management ETF Advisors LLC increased its stake in Zimmer Biomet by 1.0% in the fourth quarter. Main Management ETF Advisors LLC now owns 10,962 shares of the medical equipment provider’s stock valued at $986,000 after purchasing an additional 112 shares in the last quarter. Citizens National Bank Trust Department boosted its position in shares of Zimmer Biomet by 17.6% during the first quarter. Citizens National Bank Trust Department now owns 941 shares of the medical equipment provider’s stock worth $85,000 after purchasing an additional 141 shares in the last quarter. Independence Bank of Kentucky boosted its position in shares of Zimmer Biomet by 9.7% during the fourth quarter. Independence Bank of Kentucky now owns 1,633 shares of the medical equipment provider’s stock worth $147,000 after purchasing an additional 145 shares in the last quarter. LOM Asset Management Ltd grew its holdings in shares of Zimmer Biomet by 21.5% in the 4th quarter. LOM Asset Management Ltd now owns 830 shares of the medical equipment provider’s stock valued at $75,000 after buying an additional 147 shares during the period. Finally, Oppenheimer & Co. Inc. grew its holdings in shares of Zimmer Biomet by 0.8% in the 4th quarter. Oppenheimer & Co. Inc. now owns 20,363 shares of the medical equipment provider’s stock valued at $1,831,000 after buying an additional 152 shares during the period. Institutional investors and hedge funds own 88.89% of the company’s stock.

About Zimmer Biomet

Zimmer Biomet (NYSE: ZBH) is a global medical device company focused on musculoskeletal healthcare. Headquartered in Warsaw, Indiana, the company designs, manufactures and markets a broad portfolio of products used to treat joint disorders, bone disorders and related conditions. Its customer base includes orthopaedic and dental surgeons, hospitals, ambulatory surgery centers and other healthcare providers that rely on implants, instruments and related services for reconstructive and restorative procedures.

The company’s product offerings span joint replacement systems for hips, knees and shoulders; trauma and extremities implants; spine and thoracic solutions; dental and craniomaxillofacial implants and prosthetics; and sports medicine devices.