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

Zimmer Biomet Holdings, Inc. (NYSE:ZBH) shares 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.

Several other research firms have also recently weighed in on ZBH. Raymond James dropped their price objective on shares of Zimmer Biomet from $128.00 to $123.00 and set an “outperform” rating for the company in a research report on Monday, October 14th. Evercore ISI dropped their target price on shares of 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. Royal Bank of Canada upped their target price on shares of Zimmer Biomet from $120.00 to $125.00 and gave the company an “outperform” rating in a research report on Monday, November 4th. Barclays dropped their target price on shares of Zimmer Biomet from $125.00 to $118.00 and set an “underweight” rating for the company in a research report on Thursday, December 12th. Finally, Wells Fargo & Company boosted their price target on shares of Zimmer Biomet from $110.00 to $117.00 and gave the company an “equal weight” rating in a report on Thursday, October 31st. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, Zimmer Biomet currently has an average rating of “Hold” and an average price target of $124.11.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Dunhill Financial LLC increased its holdings in shares of Zimmer Biomet by 1,090.0% during the third quarter. Dunhill Financial LLC now owns 238 shares of the medical equipment provider’s stock worth $26,000 after purchasing an additional 218 shares during the period. Ashton Thomas Securities LLC bought a new position in shares of Zimmer Biomet during the third quarter worth approximately $28,000. Bangor Savings Bank bought a new position in shares of Zimmer Biomet during the third quarter worth approximately $31,000. Brooklyn Investment Group bought a new position in shares of Zimmer Biomet during the third quarter worth approximately $35,000. Finally, Quarry LP bought a new position in shares of Zimmer Biomet during the second quarter worth approximately $53,000. 88.89% of the stock is owned by institutional investors.

Zimmer Biomet Price Performance

The company has a quick ratio of 0.70, a current ratio of 1.36 and a debt-to-equity ratio of 0.38. The company has a market capitalization of $22.09 billion, a P/E ratio of 21.09, a PEG ratio of 1.89 and a beta of 1.02. The company’s fifty day moving average price is $107.85 and its 200 day moving average price is $108.07.

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

Zimmer Biomet Dividend Announcement

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

About Zimmer Biomet

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.