Zimmer Biomet Holdings, Inc. (ZBH) PT Set at $137.00 by Oppenheimer Holdings, Inc.
Oppenheimer Holdings, Inc. set a $137.00 price objective on Zimmer Biomet Holdings, Inc. (NYSE:ZBH) in a research note released on Friday morning. The brokerage currently has a buy rating on the medical equipment provider’s stock. Oppenheimer Holdings also issued estimates for Zimmer Biomet Holdings’ Q3 2017 earnings at $1.73 EPS, Q4 2017 earnings at $2.30 EPS, FY2017 earnings at $8.24 EPS and FY2018 earnings at $8.82 EPS.
ZBH has been the topic of several other reports. Zacks Investment Research lowered shares of Zimmer Biomet Holdings from a hold rating to a sell rating in a research note on Thursday, April 13th. Goldman Sachs Group, Inc. (The) started coverage on shares of Zimmer Biomet Holdings in a research note on Tuesday, May 16th. They set a sell rating and a $92.00 price target on the stock. Canaccord Genuity reiterated a buy rating on shares of Zimmer Biomet Holdings in a research note on Friday, April 28th. Wells Fargo & Company lowered shares of Zimmer Biomet Holdings from an outperform rating to a market perform rating in a research note on Friday, April 28th. Finally, Morgan Stanley lifted their price target on shares of Zimmer Biomet Holdings from $137.00 to $150.00 and gave the stock an overweight rating in a research note on Monday, July 17th. Three analysts have rated the stock with a sell rating, eight have given a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. The company has an average rating of Buy and a consensus target price of $137.76.
Shares of Zimmer Biomet Holdings (ZBH) opened at 121.32 on Friday. The stock’s 50 day moving average is $127.79 and its 200-day moving average is $121.35. Zimmer Biomet Holdings has a one year low of $95.63 and a one year high of $133.49. The stock has a market capitalization of $24.48 billion, a price-to-earnings ratio of 34.55 and a beta of 1.21.
Zimmer Biomet Holdings (NYSE:ZBH) last announced its quarterly earnings data on Thursday, July 27th. The medical equipment provider reported $2.08 earnings per share for the quarter, missing the Zacks’ consensus estimate of $2.10 by $0.02. Zimmer Biomet Holdings had a net margin of 9.12% and a return on equity of 16.70%. The firm had revenue of $1.95 billion during the quarter, compared to analyst estimates of $1.95 billion. During the same quarter in the previous year, the business posted $2.02 earnings per share. Zimmer Biomet Holdings’s revenue for the quarter was up 1.1% compared to the same quarter last year. On average, equities research analysts predict that Zimmer Biomet Holdings will post $8.36 EPS for the current fiscal year.
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The company also recently announced a quarterly dividend, which was paid on Friday, July 28th. Stockholders of record on Friday, June 23rd were issued a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 0.79%. The ex-dividend date was Wednesday, June 21st. Zimmer Biomet Holdings’s payout ratio is 27.59%.
In other news, VP Chad F. Phipps sold 6,200 shares of Zimmer Biomet Holdings stock in a transaction dated Friday, May 5th. The shares were sold at an average price of $116.76, for a total value of $723,912.00. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Sang Yi sold 17,731 shares of Zimmer Biomet Holdings stock in a transaction dated Monday, June 12th. The shares were sold at an average price of $124.56, for a total transaction of $2,208,573.36. The disclosure for this sale can be found here. 1.07% of the stock is owned by insiders.
Hedge funds have recently modified their holdings of the stock. BlackRock Inc. increased its stake in shares of Zimmer Biomet Holdings by 4,042.4% in the first quarter. BlackRock Inc. now owns 16,740,383 shares of the medical equipment provider’s stock valued at $2,044,168,000 after buying an additional 16,336,262 shares during the last quarter. Harbour Capital Advisors LLC increased its stake in shares of Zimmer Biomet Holdings by 13,131.3% in the second quarter. Harbour Capital Advisors LLC now owns 1,302,618 shares of the medical equipment provider’s stock valued at $10,145,000 after buying an additional 1,292,773 shares during the last quarter. Nordea Investment Management AB increased its stake in shares of Zimmer Biomet Holdings by 25.0% in the first quarter. Nordea Investment Management AB now owns 4,931,281 shares of the medical equipment provider’s stock valued at $602,159,000 after buying an additional 987,398 shares during the last quarter. Glenview Capital Management LLC purchased a new stake in shares of Zimmer Biomet Holdings during the first quarter valued at $94,197,000. Finally, Point72 Asset Management L.P. increased its stake in shares of Zimmer Biomet Holdings by 230.3% in the first quarter. Point72 Asset Management L.P. now owns 1,053,500 shares of the medical equipment provider’s stock valued at $128,643,000 after buying an additional 734,500 shares during the last quarter. 84.13% of the stock is currently owned by institutional investors and hedge funds.
About Zimmer Biomet Holdings
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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