Zimmer Biomet (NYSE:ZBH) Price Target Raised to $190.00 at Canaccord Genuity

Zimmer Biomet (NYSE:ZBH) had its price target lifted by Canaccord Genuity from $189.00 to $190.00 in a report issued on Tuesday, Benzinga reports. Canaccord Genuity currently has a buy rating on the medical equipment provider’s stock.

ZBH has been the topic of a number of other research reports. JMP Securities lifted their price target on shares of Zimmer Biomet from $180.00 to $195.00 and gave the stock an outperform rating in a report on Tuesday. Deutsche Bank Aktiengesellschaft increased their price target on Zimmer Biomet from $146.00 to $160.00 and gave the stock a hold rating in a research note on Monday, February 8th. Northland Securities upgraded Zimmer Biomet from a market perform rating to an outperform rating and boosted their price objective for the company from $165.00 to $200.00 in a research note on Thursday, April 15th. Needham & Company LLC lifted their target price on shares of Zimmer Biomet from $185.00 to $192.00 and gave the stock a strong-buy rating in a research note on Friday, February 5th. Finally, Raymond James raised their price objective on shares of Zimmer Biomet from $187.00 to $200.00 and gave the stock a strong-buy rating in a report on Wednesday, May 5th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating, sixteen have assigned a buy rating and three have given a strong buy rating to the company. Zimmer Biomet currently has a consensus rating of Buy and a consensus target price of $173.68.

Shares of NYSE:ZBH opened at $167.55 on Tuesday. Zimmer Biomet has a 1 year low of $108.78 and a 1 year high of $180.36. The company has a market capitalization of $34.93 billion, a PE ratio of 1,047.25, a price-to-earnings-growth ratio of 4.32 and a beta of 1.34. The business has a fifty day moving average price of $169.05 and a two-hundred day moving average price of $157.15. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.18 and a quick ratio of 1.02.

Zimmer Biomet (NYSE:ZBH) last posted its quarterly earnings results on Monday, May 3rd. The medical equipment provider reported $1.71 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.53 by $0.18. The company had revenue of $1.85 billion during the quarter, compared to analyst estimates of $1.75 billion. Zimmer Biomet had a net margin of 0.52% and a return on equity of 10.07%. The firm’s revenue for the quarter was up 3.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.70 earnings per share. Sell-side analysts anticipate that Zimmer Biomet will post 4.8 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 30th. Stockholders of record on Monday, March 29th were given a dividend of $0.24 per share. The ex-dividend date of this dividend was Friday, March 26th. This represents a $0.96 annualized dividend and a dividend yield of 0.57%. Zimmer Biomet’s dividend payout ratio (DPR) is presently 12.20%.

In other news, Director Arthur J. Higgins bought 1,000 shares of the business’s stock in a transaction on Thursday, May 6th. The stock was acquired at an average price of $171.58 per share, with a total value of $171,580.00. Following the completion of the purchase, the director now directly owns 3,400 shares in the company, valued at $583,372. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.44% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the stock. Freedman Financial Associates Inc. bought a new position in shares of Zimmer Biomet during the fourth quarter valued at about $25,000. Blume Capital Management Inc. purchased a new position in Zimmer Biomet in the 1st quarter worth approximately $26,000. Charter Oak Capital Management LLC bought a new stake in Zimmer Biomet in the fourth quarter valued at approximately $27,000. Regent Peak Wealth Advisors LLC purchased a new stake in shares of Zimmer Biomet during the fourth quarter valued at approximately $29,000. Finally, Birchcreek Wealth Management LLC bought a new position in shares of Zimmer Biomet in the fourth quarter worth approximately $30,000. 87.17% of the stock is currently owned by institutional investors.

Zimmer Biomet Company Profile

Zimmer Biomet Holdings, Inc, together with its subsidiaries, designs, manufactures, and markets musculoskeletal healthcare products and solutions in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company provides orthopaedic reconstructive products, such as knee and hip replacement products; S.E.T.

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Analyst Recommendations for Zimmer Biomet (NYSE:ZBH)

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