Zimmer Biomet (NYSE:ZBH) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Zimmer Biomet (NYSE:ZBH) from a hold rating to a buy rating in a research note released on Saturday.

A number of other analysts have also weighed in on ZBH. Truist Financial restated a “hold” rating and issued a $92.00 target price (down from $98.00) on shares of Zimmer Biomet in a research note on Wednesday, April 29th. Robert W. Baird set a $92.00 price target on shares of Zimmer Biomet in a research report on Wednesday, April 29th. Stifel Nicolaus decreased their price objective on shares of Zimmer Biomet from $110.00 to $105.00 and set a “buy” rating on the stock in a report on Wednesday, April 29th. Canaccord Genuity Group set a $83.00 price objective on shares of Zimmer Biomet in a research report on Wednesday, April 29th. Finally, Citizens Jmp dropped their target price on shares of Zimmer Biomet from $120.00 to $105.00 and set a “market outperform” rating for the company in a research note on Wednesday, April 29th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, twelve have issued a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $100.70.

Zimmer Biomet Price Performance

NYSE:ZBH opened at $92.15 on Friday. The company has a quick ratio of 0.95, a current ratio of 1.73 and a debt-to-equity ratio of 0.50. The firm has a market cap of $17.83 billion, a PE ratio of 23.93, a price-to-earnings-growth ratio of 2.69 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’s 50-day moving average price is $88.04 and its two-hundred day moving average price is $89.77.

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

Zimmer Biomet Announces Dividend

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

Insiders Place Their Bets

In other Zimmer Biomet news, insider Sang Yi sold 5,000 shares of the firm’s 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 transaction, the insider directly owned 27,251 shares of the company’s stock, valued at approximately $2,252,022.64. This trade represents a 15.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.28% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Zimmer Biomet

Hedge funds have recently added to or reduced their stakes in the stock. DV Equities LLC bought a new position in Zimmer Biomet during the fourth quarter worth about $25,000. Monetary Solutions Ltd acquired a new stake in shares of Zimmer Biomet in the 4th quarter valued at approximately $30,000. Gen Wealth Partners Inc acquired a new stake in shares of Zimmer Biomet in the 4th quarter valued at approximately $31,000. Flagship Harbor Advisors LLC bought a new position in Zimmer Biomet during the 4th quarter worth approximately $32,000. Finally, Elevation Wealth Partners LLC boosted its stake in Zimmer Biomet by 145.9% during the 2nd quarter. Elevation Wealth Partners LLC now owns 386 shares of the medical equipment provider’s stock worth $33,000 after acquiring an additional 229 shares during the last quarter. Institutional investors and hedge funds own 88.89% of the company’s stock.

Zimmer Biomet Company Profile

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.