Zimmer Biomet (NYSE:ZBH) Raised to “Buy” at Argus

Argus upgraded shares of Zimmer Biomet (NYSE:ZBH) from a hold rating to a buy rating in a research report released on Tuesday, Marketbeat Ratings reports. The brokerage currently has $150.00 price objective on the medical equipment provider’s stock.

Other research analysts also recently issued reports about the company. Evercore ISI boosted their price objective on Zimmer Biomet from $125.00 to $130.00 and gave the company an in-line rating in a research note on Thursday, April 4th. Needham & Company LLC reaffirmed a hold rating on shares of Zimmer Biomet in a research report on Friday, May 17th. Citigroup boosted their target price on shares of Zimmer Biomet from $134.00 to $140.00 and gave the company a neutral rating in a research report on Wednesday, April 3rd. StockNews.com cut shares of Zimmer Biomet from a strong-buy rating to a buy rating in a report on Monday, February 19th. Finally, Royal Bank of Canada reiterated an outperform rating and set a $140.00 price objective on shares of Zimmer Biomet in a report on Friday, February 9th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of Hold and a consensus target price of $134.40.

Zimmer Biomet Trading Down 2.9 %

Shares of ZBH stock opened at $115.85 on Tuesday. Zimmer Biomet has a twelve month low of $102.00 and a twelve month high of $147.50. The stock’s fifty day simple moving average is $123.63 and its 200 day simple moving average is $121.46. The company has a quick ratio of 0.80, a current ratio of 1.66 and a debt-to-equity ratio of 0.38. The firm has a market capitalization of $23.83 billion, a P/E ratio of 25.08, a P/E/G ratio of 2.15 and a beta of 1.03.

Zimmer Biomet (NYSE:ZBH) last posted its earnings results on Thursday, May 2nd. The medical equipment provider reported $1.94 EPS for the quarter, topping the consensus estimate of $1.87 by $0.07. Zimmer Biomet had a net margin of 12.93% and a return on equity of 12.70%. The business had revenue of $1.89 billion for the quarter, compared to the consensus estimate of $1.87 billion. During the same period last year, the company earned $1.89 EPS. The firm’s revenue was up 3.2% compared to the same quarter last year. As a group, sell-side analysts predict that Zimmer Biomet will post 8.1 EPS for the current fiscal year.

Zimmer Biomet Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Wednesday, June 26th will be issued a $0.24 dividend. The ex-dividend date is Wednesday, June 26th. This represents a $0.96 annualized dividend and a dividend yield of 0.83%. Zimmer Biomet’s payout ratio is currently 20.78%.

Hedge Funds Weigh In On Zimmer Biomet

A number of hedge funds and other institutional investors have recently bought and sold shares of ZBH. OLD Point Trust & Financial Services N A purchased a new position in shares of Zimmer Biomet during the 4th quarter valued at about $26,000. Crewe Advisors LLC purchased a new position in shares of Zimmer Biomet during the first quarter worth approximately $31,000. Ables Iannone Moore & Associates Inc. bought a new stake in shares of Zimmer Biomet in the 4th quarter worth approximately $30,000. J.Safra Asset Management Corp grew its holdings in shares of Zimmer Biomet by 712.1% during the 1st quarter. J.Safra Asset Management Corp now owns 268 shares of the medical equipment provider’s stock valued at $35,000 after purchasing an additional 235 shares during the last quarter. Finally, Naples Money Management LLC purchased a new position in Zimmer Biomet in the 4th quarter worth $35,000. Hedge funds and other institutional investors own 88.89% of the company’s stock.

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.