Zimmer Biomet Holdings, Inc. (ZBH) Lowered to “Sell” at Zacks Investment Research

Zacks Investment Research lowered shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) from a hold rating to a sell rating in a report released on Monday, November 6th.

According to Zacks, “Zimmer Biomet ended the third quarter 2017 on a dismal note with earnings below the Zacks Consensus Estimate and revenues in line with the same. Sales were declining within most of the core segments primarily due to the slower pace of supply recovery and sales recapture of certain key brands particularly in the United States and softened domestic market conditions. The lowered 2017 guidance also added to our concerns indicating little chances of recovery ahead. Over, the last three months, the company has been observed to trade below the broader industry. Nevertheless, we look forward to the expected synergy from the LDR Holding acquisition, which should broaden and complement the company's musculoskeletal offering. We are also impressed by the strong strategic and financial goals which the combined entity expects to reach, now that the deal has been closed.”

Other equities analysts have also recently issued research reports about the company. Guggenheim raised Zimmer Biomet from a neutral rating to a buy rating and set a $157.00 price objective for the company in a report on Wednesday, July 12th. BMO Capital Markets restated a buy rating and issued a $136.00 price target on shares of Zimmer Biomet in a research note on Tuesday, July 11th. Canaccord Genuity restated a buy rating and issued a $141.00 price target on shares of Zimmer Biomet in a research note on Friday, July 14th. Bank of America Corporation restated a buy rating and issued a $158.00 price target on shares of Zimmer Biomet in a research note on Friday, July 14th. Finally, Piper Jaffray Companies restated a buy rating and issued a $141.00 price target on shares of Zimmer Biomet in a research note on Friday, July 14th. Four equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of Hold and an average price target of $133.71.

Shares of Zimmer Biomet (NYSE:ZBH) remained flat at $$113.07 during mid-day trading on Monday. 289,061 shares of the stock traded hands, compared to its average volume of 1,717,104. The firm has a market cap of $22,893.63, a price-to-earnings ratio of 14.01, a PEG ratio of 1.76 and a beta of 1.17. The company has a current ratio of 1.47, a quick ratio of 0.78 and a debt-to-equity ratio of 0.88. Zimmer Biomet has a 52 week low of $99.11 and a 52 week high of $133.49.

Zimmer Biomet (NYSE:ZBH) last issued its quarterly earnings data on Wednesday, November 1st. The medical equipment provider reported $1.72 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.74 by ($0.02). The company had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.83 billion. Zimmer Biomet had a net margin of 8.36% and a return on equity of 16.29%. The business’s quarterly revenue was down .8% compared to the same quarter last year. During the same period last year, the firm earned $1.79 EPS. research analysts forecast that Zimmer Biomet will post 8.03 earnings per share for the current fiscal year.

A number of large investors have recently bought and sold shares of ZBH. Bronfman E.L. Rothschild L.P. grew its position in shares of Zimmer Biomet by 25.3% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 827 shares of the medical equipment provider’s stock valued at $106,000 after purchasing an additional 167 shares in the last quarter. Parkside Financial Bank & Trust grew its position in shares of Zimmer Biomet by 3.9% in the second quarter. Parkside Financial Bank & Trust now owns 872 shares of the medical equipment provider’s stock valued at $112,000 after purchasing an additional 33 shares in the last quarter. Bank of Nova Scotia Trust Co. purchased a new stake in shares of Zimmer Biomet in the third quarter valued at approximately $112,000. FNY Managed Accounts LLC purchased a new stake in shares of Zimmer Biomet in the third quarter valued at approximately $117,000. Finally, BB&T Investment Services Inc. purchased a new stake in shares of Zimmer Biomet in the second quarter valued at approximately $144,000. Institutional investors own 85.36% of the company’s stock.

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Zimmer Biomet Company Profile

Zimmer Biomet Holdings, Inc is engaged in designing, manufacturing and marketing of orthopedic reconstructive products; sports medicine, biologics, extremities and trauma products; office-based technologies; spine, craniomaxillofacial and thoracic products; dental implants, and related surgical products.

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