Shares of Zimmer Biomet Holdings Inc (NYSE:ZBH) reached a new 52-week high during trading on Wednesday . The company traded as high as $150.79 and last traded at $147.13, with a volume of 391250 shares. The stock had previously closed at $143.40.
A number of research analysts have recently commented on the company. Canaccord Genuity upgraded Zimmer Biomet from a “hold” rating to a “buy” rating and increased their price target for the company from $137.00 to $167.00 in a research note on Wednesday, September 18th. Needham & Company LLC reaffirmed a “buy” rating and issued a $170.00 target price on shares of Zimmer Biomet in a report on Tuesday, November 5th. Cowen set a $140.00 target price on Zimmer Biomet and gave the company a “buy” rating in a research report on Monday, September 23rd. ValuEngine downgraded Zimmer Biomet from a “buy” rating to a “hold” rating in a research report on Wednesday, August 21st. Finally, Royal Bank of Canada raised their target price on Zimmer Biomet from $145.00 to $155.00 and gave the company an “outperform” rating in a research note on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, six have given a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. Zimmer Biomet presently has a consensus rating of “Buy” and a consensus target price of $147.65.
The business’s fifty day simple moving average is $141.17 and its 200-day simple moving average is $131.34. The company has a current ratio of 1.17, a quick ratio of 0.54 and a debt-to-equity ratio of 0.53. The firm has a market cap of $29.88 billion, a P/E ratio of 19.30, a PEG ratio of 2.77 and a beta of 1.15.
Zimmer Biomet (NYSE:ZBH) last posted its quarterly earnings results on Tuesday, November 5th. The medical equipment provider reported $1.77 EPS for the quarter, topping the Zacks’ consensus estimate of $1.75 by $0.02. The firm had revenue of $1.89 billion during the quarter, compared to analyst estimates of $1.87 billion. Zimmer Biomet had a positive return on equity of 13.71% and a negative net margin of 1.14%. The business’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same period last year, the company earned $1.63 earnings per share. As a group, research analysts expect that Zimmer Biomet Holdings Inc will post 7.83 earnings per share for the current fiscal year.
In related news, insider Didier Deltort sold 360 shares of Zimmer Biomet stock in a transaction on Friday, September 6th. The stock was sold at an average price of $139.25, for a total transaction of $50,130.00. Following the completion of the sale, the insider now owns 1,194 shares of the company’s stock, valued at $166,264.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Aure Bruneau sold 15,171 shares of the firm’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $146.78, for a total value of $2,226,799.38. In the last 90 days, insiders sold 15,615 shares of company stock valued at $2,288,725. 0.72% of the stock is owned by corporate insiders.
A number of hedge funds have recently made changes to their positions in the business. Personal Wealth Partners bought a new stake in Zimmer Biomet during the 2nd quarter valued at approximately $26,000. TRUE Private Wealth Advisors purchased a new position in Zimmer Biomet in the 2nd quarter worth approximately $26,000. Allworth Financial LP raised its stake in shares of Zimmer Biomet by 65.0% in the third quarter. Allworth Financial LP now owns 203 shares of the medical equipment provider’s stock worth $28,000 after purchasing an additional 80 shares during the last quarter. Coastal Investment Advisors Inc. increased its holdings in Zimmer Biomet by 271.0% in the 2nd quarter. Coastal Investment Advisors Inc. now owns 256 shares of the medical equipment provider’s stock worth $30,000 after buying an additional 187 shares in the last quarter. Finally, Private Ocean LLC increased its holdings in Zimmer Biomet by 34.8% in the 2nd quarter. Private Ocean LLC now owns 310 shares of the medical equipment provider’s stock worth $36,000 after buying an additional 80 shares in the last quarter. Hedge funds and other institutional investors own 87.38% of the company’s stock.
About Zimmer Biomet (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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