Zimmer Biomet’s (ZBH) “Hold” Rating Reiterated at Needham & Company LLC

Needham & Company LLC restated their hold rating on shares of Zimmer Biomet (NYSE:ZBH) in a research note released on Thursday morning, Benzinga reports.

Other equities research analysts have also issued research reports about the company. StockNews.com lowered Zimmer Biomet from a strong-buy rating to a buy rating in a research note on Monday, February 19th. Royal Bank of Canada reaffirmed an outperform rating and issued a $140.00 price objective on shares of Zimmer Biomet in a research note on Friday, February 9th. TheStreet raised Zimmer Biomet from a c rating to a b- rating in a research note on Thursday, February 8th. Canaccord Genuity Group reaffirmed a hold rating and issued a $130.00 price objective on shares of Zimmer Biomet in a research note on Friday, February 23rd. Finally, Evercore ISI boosted their target price on Zimmer Biomet from $125.00 to $130.00 and gave the company an in-line rating in a research report on Thursday, April 4th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of Hold and an average price target of $135.40.

Zimmer Biomet Trading Up 2.7 %

NYSE:ZBH opened at $121.66 on Thursday. The company has a market cap of $25.00 billion, a PE ratio of 26.33, a price-to-earnings-growth ratio of 2.23 and a beta of 1.03. The company has a current ratio of 1.66, a quick ratio of 0.78 and a debt-to-equity ratio of 0.38. The company has a 50 day simple moving average of $125.30 and a two-hundred day simple moving average of $120.21. Zimmer Biomet has a 12 month low of $102.00 and a 12 month high of $147.50.

Zimmer Biomet (NYSE:ZBH) last issued its quarterly earnings data on Thursday, May 2nd. The medical equipment provider reported $1.94 EPS for the quarter, topping the consensus estimate of $1.87 by $0.07. Zimmer Biomet had a return on equity of 12.70% and a net margin of 12.93%. The company had revenue of $1.89 billion during the quarter, compared to analyst estimates of $1.87 billion. During the same quarter in the previous year, the company posted $1.89 earnings per share. Zimmer Biomet’s revenue was up 3.2% compared to the same quarter last year. Research analysts forecast that Zimmer Biomet will post 8.1 earnings per share for the current year.

Zimmer Biomet Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 30th. Investors of record on Friday, March 29th were paid a dividend of $0.24 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $0.96 annualized dividend and a yield of 0.79%. Zimmer Biomet’s dividend payout ratio (DPR) is 20.78%.

Insider Buying and Selling at Zimmer Biomet

In other Zimmer Biomet news, VP Chad F. Phipps sold 26,156 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $128.62, for a total transaction of $3,364,184.72. Following the sale, the vice president now owns 44,145 shares of the company’s stock, valued at approximately $5,677,929.90. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.95% of the stock is currently owned by company insiders.

Institutional Trading of Zimmer Biomet

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Commonwealth Equity Services LLC lifted its holdings in shares of Zimmer Biomet by 0.5% during the third quarter. Commonwealth Equity Services LLC now owns 67,751 shares of the medical equipment provider’s stock worth $7,603,000 after purchasing an additional 324 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its holdings in shares of Zimmer Biomet by 5.7% during the third quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 40,516 shares of the medical equipment provider’s stock worth $4,547,000 after purchasing an additional 2,200 shares during the last quarter. SVB Wealth LLC raised its holdings in shares of Zimmer Biomet by 5.2% during the third quarter. SVB Wealth LLC now owns 10,146 shares of the medical equipment provider’s stock worth $1,139,000 after purchasing an additional 498 shares during the last quarter. Xponance Inc. boosted its holdings in Zimmer Biomet by 2.6% in the third quarter. Xponance Inc. now owns 26,749 shares of the medical equipment provider’s stock valued at $3,002,000 after purchasing an additional 677 shares during the last quarter. Finally, Pinnacle Associates Ltd. grew its position in Zimmer Biomet by 5.0% during the 3rd quarter. Pinnacle Associates Ltd. now owns 2,020 shares of the medical equipment provider’s stock worth $227,000 after purchasing an additional 97 shares during the period. Institutional investors and hedge funds own 88.89% of the company’s stock.

Zimmer Biomet Company Profile

Zimmer Biomet Holdings, Inc, together with its subsidiaries, operates as a medical technology company worldwide. The company designs, manufactures, and markets orthopedic reconstructive products, such as knee and hip products; S.E.T. products, including sports medicine, biologics, foot and ankle, extremities, and trauma products; craniomaxillofacial and thoracic products comprising face and skull reconstruction products, as well as products that fixate and stabilize the bones of the chest to facilitate healing or reconstruction after open heart surgery, trauma, or for deformities of the chest.