Zimmer Biomet (NYSE:ZBH) Stock Rating Lowered by Zacks Research

Zimmer Biomet (NYSE:ZBH) was downgraded by stock analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued to investors on Monday,Zacks.com reports.

A number of other equities research analysts have also recently commented on ZBH. JPMorgan Chase & Co. lowered their price objective on shares of Zimmer Biomet from $100.00 to $95.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 29th. Robert W. Baird set a $92.00 target price on Zimmer Biomet in a report on Wednesday, April 29th. BMO Capital Markets began coverage on shares of Zimmer Biomet in a research note on Wednesday, July 8th. They set a “market perform” rating and a $95.00 price target on the stock. Citigroup lowered their price objective on Zimmer Biomet from $95.00 to $93.00 and set a “neutral” rating for the company in a research report on Thursday, May 28th. Finally, UBS Group began coverage on shares of Zimmer Biomet in a research note on Tuesday. They set a “buy” rating and a $115.00 price objective for the company. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, twelve have assigned a Hold rating and four have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Zimmer Biomet presently has a consensus rating of “Hold” and a consensus target price of $102.00.

Zimmer Biomet Price Performance

Shares of NYSE:ZBH opened at $95.57 on Monday. The firm has a market capitalization of $18.49 billion, a price-to-earnings ratio of 24.82, a price-to-earnings-growth ratio of 2.71 and a beta of 0.46. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.73 and a quick ratio of 0.95. The business’s 50 day simple moving average is $88.23 and its 200-day simple moving average is $89.79. Zimmer Biomet has a 12 month low of $79.12 and a 12 month high of $108.29.

Zimmer Biomet (NYSE:ZBH) last issued its quarterly earnings data on Tuesday, April 28th. The medical equipment provider reported $2.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.86 by $0.23. The firm had revenue of $2.09 billion during the quarter, compared to analysts’ expectations of $2.07 billion. Zimmer Biomet had a return on equity of 13.24% and a net margin of 9.05%.Zimmer Biomet’s revenue was up 9.3% on a year-over-year basis. During the same period in the previous year, the firm posted $1.81 earnings per share. As a group, equities analysts forecast that Zimmer Biomet will post 8.48 earnings per share for the current fiscal year.

Insider Activity at Zimmer Biomet

In related news, insider Sang Yi sold 5,000 shares of the firm’s stock in a transaction on Friday, May 29th. The shares were sold at an average price of $82.64, for a total transaction of $413,200.00. Following the completion of the sale, the insider directly owned 27,251 shares of the company’s stock, valued at approximately $2,252,022.64. This trade represents a 15.50% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.28% of the company’s stock.

Institutional Trading of Zimmer Biomet

A number of hedge funds and other institutional investors have recently made changes to their positions in ZBH. M&T Bank Corp raised its stake in Zimmer Biomet by 15,705.6% during the fourth quarter. M&T Bank Corp now owns 3,571,595 shares of the medical equipment provider’s stock valued at $321,158,000 after buying an additional 3,548,998 shares in the last quarter. Norges Bank acquired a new position in shares of Zimmer Biomet during the fourth quarter worth approximately $221,234,000. Franklin Resources Inc. increased its holdings in shares of Zimmer Biomet by 43.2% during the fourth quarter. Franklin Resources Inc. now owns 6,685,987 shares of the medical equipment provider’s stock valued at $601,204,000 after purchasing an additional 2,017,857 shares during the period. Auto Owners Insurance Co boosted its holdings in shares of Zimmer Biomet by 8,892.0% in the fourth quarter. Auto Owners Insurance Co now owns 2,009,712 shares of the medical equipment provider’s stock valued at $180,713,000 after acquiring an additional 1,987,362 shares in the last quarter. Finally, AQR Capital Management LLC boosted its stake in Zimmer Biomet by 276.6% during the second quarter. AQR Capital Management LLC now owns 1,300,593 shares of the medical equipment provider’s stock valued at $118,627,000 after buying an additional 955,284 shares in the last quarter. Institutional investors own 88.89% of the company’s stock.

Zimmer Biomet Company Profile

Zimmer Biomet (NYSE: ZBH) is a global medical device company focused on musculoskeletal healthcare. Headquartered in Warsaw, Indiana, the company designs, manufactures and markets a broad portfolio of products used to treat joint disorders, bone disorders and related conditions. Its customer base includes orthopaedic and dental surgeons, hospitals, ambulatory surgery centers and other healthcare providers that rely on implants, instruments and related services for reconstructive and restorative procedures.

The company’s product offerings span joint replacement systems for hips, knees and shoulders; trauma and extremities implants; spine and thoracic solutions; dental and craniomaxillofacial implants and prosthetics; and sports medicine devices.