Zimmer Biomet Holdings Inc (NYSE:ZBH) Receives $131.24 Consensus Target Price from Analysts

Shares of Zimmer Biomet Holdings Inc (NYSE:ZBH) have been given an average rating of “Hold” by the twenty-five analysts that are presently covering the stock, Marketbeat reports. Three analysts have rated the stock with a sell recommendation, eight have assigned a hold recommendation, twelve have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $131.24.

Several analysts have recently commented on the stock. Barclays increased their price target on shares of Zimmer Biomet from $113.00 to $117.00 and gave the company an “underweight” rating in a research note on Monday, April 15th. Needham & Company LLC increased their price target on shares of CoStar Group from $500.00 to $600.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. Zacks Investment Research raised shares of Zymeworks from a “hold” rating to a “buy” rating and set a $18.00 price target on the stock in a research note on Saturday, April 13th. TheStreet cut shares of Zimmer Biomet from a “b-” rating to a “c” rating in a research note on Friday, June 7th. Finally, Sanford C. Bernstein raised shares of Zimmer Biomet from an “underperform” rating to a “market perform” rating and set a $121.71 price target on the stock in a research note on Tuesday, June 11th.

In other Zimmer Biomet news, insider Sang Yi sold 426 shares of the firm’s stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $114.88, for a total value of $48,938.88. Following the transaction, the insider now directly owns 1,457 shares of the company’s stock, valued at $167,380.16. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.72% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. BlackRock Inc. raised its holdings in Zimmer Biomet by 3.2% in the first quarter. BlackRock Inc. now owns 16,474,877 shares of the medical equipment provider’s stock worth $2,103,841,000 after purchasing an additional 509,160 shares during the period. American Century Companies Inc. raised its holdings in shares of Zimmer Biomet by 23.1% during the fourth quarter. American Century Companies Inc. now owns 5,425,619 shares of the medical equipment provider’s stock worth $562,745,000 after acquiring an additional 1,016,489 shares during the period. OppenheimerFunds Inc. raised its holdings in shares of Zimmer Biomet by 7.9% during the first quarter. OppenheimerFunds Inc. now owns 3,156,333 shares of the medical equipment provider’s stock worth $403,063,000 after acquiring an additional 231,307 shares during the period. Geode Capital Management LLC raised its holdings in shares of Zimmer Biomet by 8.4% during the fourth quarter. Geode Capital Management LLC now owns 2,641,717 shares of the medical equipment provider’s stock worth $273,516,000 after acquiring an additional 205,532 shares during the period. Finally, Primecap Management Co. CA raised its holdings in shares of Zimmer Biomet by 29.4% during the first quarter. Primecap Management Co. CA now owns 2,463,720 shares of the medical equipment provider’s stock worth $314,617,000 after acquiring an additional 559,370 shares during the period. Institutional investors own 88.69% of the company’s stock.

Shares of ZBH traded up $0.19 during mid-day trading on Tuesday, hitting $122.09. 1,099,400 shares of the company traded hands, compared to its average volume of 1,216,543. Zimmer Biomet has a one year low of $96.99 and a one year high of $134.55. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.00 and a quick ratio of 0.97. The business has a 50-day simple moving average of $118.09. The stock has a market capitalization of $24.70 billion, a PE ratio of 15.98, a price-to-earnings-growth ratio of 2.25 and a beta of 1.14.

Zimmer Biomet (NYSE:ZBH) last released its quarterly earnings results on Friday, April 26th. The medical equipment provider reported $1.87 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.86 by $0.01. Zimmer Biomet had a negative net margin of 3.90% and a positive return on equity of 13.24%. The business had revenue of $1.98 billion for the quarter, compared to analysts’ expectations of $1.97 billion. During the same period in the prior year, the firm earned $1.91 earnings per share. Zimmer Biomet’s revenue was down 2.1% compared to the same quarter last year. As a group, analysts anticipate that Zimmer Biomet will post 7.81 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Friday, June 28th will be paid a $0.24 dividend. The ex-dividend date is Thursday, June 27th. This represents a $0.96 dividend on an annualized basis and a yield of 0.79%. Zimmer Biomet’s payout ratio is presently 12.57%.

About Zimmer Biomet

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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Analyst Recommendations for Zimmer Biomet (NYSE:ZBH)

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