Zimmer Biomet (NYSE:ZBH) Trading Up 5.2%

Zimmer Biomet Holdings Inc (NYSE:ZBH)’s stock price was up 5.2% during mid-day trading on Wednesday . The stock traded as high as $93.93 and last traded at $98.22, approximately 72,392 shares traded hands during trading. A decline of 97% from the average daily volume of 2,746,201 shares. The stock had previously closed at $93.40.

Several analysts recently issued reports on ZBH shares. BTIG Research reiterated a “buy” rating and set a $170.00 target price on shares of Zimmer Biomet in a research report on Wednesday, February 5th. Wells Fargo & Co increased their target price on Zimmer Biomet from $165.00 to $170.00 and gave the stock an “overweight” rating in a research report on Friday, January 10th. Piper Sandler increased their target price on Zimmer Biomet from to and gave the stock an “overweight” rating in a research report on Tuesday, February 4th. Raymond James increased their target price on Zimmer Biomet from $170.00 to $190.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, February 5th. Finally, Piper Jaffray Companies upgraded Zimmer Biomet from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $140.00 to $170.00 in a research report on Tuesday, January 7th. Four investment analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and two have assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $158.43.

The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.68 and a current ratio of 1.37. The company has a 50 day moving average of $130.74 and a two-hundred day moving average of $140.34. The stock has a market cap of $19.28 billion, a PE ratio of 18.44, a price-to-earnings-growth ratio of 1.80 and a beta of 1.13.

Zimmer Biomet (NYSE:ZBH) last announced its quarterly earnings results on Tuesday, February 4th. The medical equipment provider reported $2.30 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.27 by $0.03. Zimmer Biomet had a return on equity of 13.64% and a net margin of 14.18%. The firm had revenue of $2.13 billion during the quarter, compared to analyst estimates of $2.11 billion. During the same quarter in the previous year, the business earned $2.18 EPS. Zimmer Biomet’s revenue for the quarter was up 2.6% compared to the same quarter last year. As a group, equities research analysts anticipate that Zimmer Biomet Holdings Inc will post 8.18 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 30th. Investors of record on Friday, March 27th will be paid a $0.24 dividend. The ex-dividend date of this dividend is Thursday, March 26th. This represents a $0.96 annualized dividend and a dividend yield of 0.95%. Zimmer Biomet’s dividend payout ratio is presently 12.20%.

Institutional investors have recently made changes to their positions in the stock. Procyon Private Wealth Partners LLC purchased a new position in shares of Zimmer Biomet in the 4th quarter valued at about $25,000. Orion Portfolio Solutions LLC purchased a new position in shares of Zimmer Biomet in the 4th quarter valued at about $32,000. TRUE Private Wealth Advisors purchased a new position in shares of Zimmer Biomet in the 4th quarter valued at about $33,000. Valley National Advisers Inc. purchased a new position in shares of Zimmer Biomet in the 4th quarter valued at about $35,000. Finally, Sailer Financial LLC purchased a new position in shares of Zimmer Biomet in the 4th quarter valued at about $36,000. Hedge funds and other institutional investors own 88.10% of the company’s stock.

Zimmer Biomet Company Profile (NYSE:ZBH)

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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