Zimmer Biomet (NYSE:ZBH) Shares Gap Up on Analyst Upgrade

Shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) gapped up prior to trading on Thursday after Stifel Nicolaus raised their price target on the stock from $130.00 to $138.00. The stock had previously closed at $109.72, but opened at $112.14. Stifel Nicolaus currently has a buy rating on the stock. Zimmer Biomet shares last traded at $110.05, with a volume of 87,971 shares traded.

A number of other brokerages have also commented on ZBH. Evercore ISI lowered their price objective on Zimmer Biomet from $113.00 to $110.00 and set an “in-line” rating for the company in a research report on Tuesday, October 1st. JPMorgan Chase & Co. upgraded shares of Zimmer Biomet from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $125.00 to $128.00 in a research report on Tuesday, December 17th. BTIG Research cut their price objective on shares of Zimmer Biomet from $134.00 to $126.00 and set a “buy” rating on the stock in a report on Thursday, October 3rd. Truist Financial lifted their target price on shares of Zimmer Biomet from $117.00 to $118.00 and gave the stock a “hold” rating in a report on Wednesday, December 18th. Finally, Wells Fargo & Company increased their price target on Zimmer Biomet from $110.00 to $117.00 and gave the company an “equal weight” rating in a research note on Thursday, October 31st. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $124.11.

Institutional Investors Weigh In On Zimmer Biomet

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. BLB&B Advisors LLC raised its stake in shares of Zimmer Biomet by 2.1% in the 3rd quarter. BLB&B Advisors LLC now owns 4,900 shares of the medical equipment provider’s stock valued at $529,000 after purchasing an additional 100 shares during the period. CKW Financial Group grew its holdings in shares of Zimmer Biomet by 11.7% during the fourth quarter. CKW Financial Group now owns 955 shares of the medical equipment provider’s stock worth $101,000 after buying an additional 100 shares in the last quarter. FWG Holdings LLC raised its position in Zimmer Biomet by 2.9% in the 3rd quarter. FWG Holdings LLC now owns 3,591 shares of the medical equipment provider’s stock valued at $372,000 after buying an additional 101 shares during the last quarter. Romano Brothers AND Company lifted its position in shares of Zimmer Biomet by 1.1% in the fourth quarter. Romano Brothers AND Company now owns 9,466 shares of the medical equipment provider’s stock worth $1,000,000 after purchasing an additional 102 shares in the last quarter. Finally, Financial Advocates Investment Management grew its position in Zimmer Biomet by 3.5% in the third quarter. Financial Advocates Investment Management now owns 3,053 shares of the medical equipment provider’s stock valued at $330,000 after purchasing an additional 103 shares in the last quarter. 88.89% of the stock is currently owned by institutional investors and hedge funds.

Zimmer Biomet Stock Down 0.2 %

The company has a debt-to-equity ratio of 0.38, a current ratio of 1.36 and a quick ratio of 0.70. The firm has a 50-day moving average of $107.89 and a 200 day moving average of $108.09. The stock has a market capitalization of $22.05 billion, a price-to-earnings ratio of 21.06, a PEG ratio of 1.88 and a beta of 1.02.

Zimmer Biomet (NYSE:ZBH) last released its earnings results on Wednesday, October 30th. The medical equipment provider reported $1.74 earnings per share for the quarter, meeting the consensus estimate of $1.74. The business had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $1.80 billion. Zimmer Biomet had a net margin of 14.27% and a return on equity of 12.95%. The firm’s revenue was up 4.1% on a year-over-year basis. During the same period last year, the business earned $1.65 earnings per share. As a group, sell-side analysts forecast that Zimmer Biomet Holdings, Inc. will post 7.99 earnings per share for the current fiscal year.

Zimmer Biomet Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Monday, December 30th will be given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 0.87%. The ex-dividend date is Monday, December 30th. Zimmer Biomet’s dividend payout ratio (DPR) is presently 18.25%.

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.