Zimmer Biomet Target of Unusually High Options Trading (ZBH)
Zimmer Biomet Holdings Inc (NYSE:ZBH) was the recipient of some unusual options trading on Friday. Investors acquired 1,169 put options on the stock. This is an increase of 1,480% compared to the average daily volume of 74 put options.
ZBH has been the subject of several analyst reports. Deutsche Bank raised Zimmer Biomet from a “hold” rating to a “buy” rating and set a $128.00 price objective for the company in a report on Tuesday, November 14th. Edward Jones raised Zimmer Biomet from a “hold” rating to a “buy” rating in a report on Thursday, November 9th. Gabelli initiated coverage on Zimmer Biomet in a report on Thursday, August 24th. They set a “buy” rating and a $142.00 price target for the company. SunTrust Banks set a $136.00 price target on Zimmer Biomet and gave the stock a “buy” rating in a report on Wednesday, November 1st. Finally, Jefferies Group reissued a “buy” rating and set a $136.00 price target on shares of Zimmer Biomet in a report on Friday, November 3rd. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $133.57.
Institutional investors and hedge funds have recently modified their holdings of the business. Bronfman E.L. Rothschild L.P. increased its holdings in Zimmer Biomet by 25.3% in the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 827 shares of the medical equipment provider’s stock worth $106,000 after purchasing an additional 167 shares in the last quarter. Bank of Nova Scotia Trust Co. acquired a new position in Zimmer Biomet in the 3rd quarter worth about $112,000. FNY Managed Accounts LLC acquired a new position in Zimmer Biomet in the 3rd quarter worth about $117,000. Steward Partners Investment Advisory LLC acquired a new position in Zimmer Biomet in the 3rd quarter worth about $140,000. Finally, BB&T Investment Services Inc. bought a new stake in shares of Zimmer Biomet in the 2nd quarter valued at about $144,000. 85.92% of the stock is owned by institutional investors and hedge funds.
Zimmer Biomet (NYSE:ZBH) last issued its earnings results on Wednesday, November 1st. The medical equipment provider reported $1.72 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.74 by ($0.02). Zimmer Biomet had a return on equity of 16.29% and a net margin of 8.36%. The firm had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.83 billion. During the same period in the previous year, the company earned $1.79 EPS. Zimmer Biomet’s revenue for the quarter was down .8% on a year-over-year basis. equities analysts forecast that Zimmer Biomet will post 8.03 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, January 29th. Shareholders of record on Friday, December 29th will be issued a $0.24 dividend. The ex-dividend date is Thursday, December 28th. This represents a $0.96 dividend on an annualized basis and a yield of 0.79%. Zimmer Biomet’s payout ratio is presently 30.19%.
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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