Evercore ISI Boosts Zimmer Biomet (NYSE:ZBH) Price Target to $130.00

Zimmer Biomet (NYSE:ZBH - Free Report) had its target price lifted by Evercore ISI from $125.00 to $130.00 in a report issued on Thursday morning, Benzinga reports. The brokerage currently has an in-line rating on the medical equipment provider's stock.

ZBH has been the topic of a number of other research reports. Citigroup increased their price objective on shares of Zimmer Biomet from $134.00 to $140.00 and gave the stock a neutral rating in a research note on Wednesday. Barclays increased their price objective on shares of Zimmer Biomet from $120.00 to $130.00 and gave the stock an underweight rating in a research note on Monday, February 12th. TheStreet upgraded shares of Zimmer Biomet from a c rating to a b- rating in a research note on Thursday, February 8th. JPMorgan Chase & Co. increased their price objective on shares of Zimmer Biomet from $115.00 to $125.00 and gave the stock a neutral rating in a research note on Friday, February 9th. Finally, Canaccord Genuity Group reiterated a hold rating and issued a $130.00 price objective on shares of Zimmer Biomet in a research note on Friday, February 23rd. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of Hold and a consensus target price of $139.39.

Zimmer Biomet Stock Down 1.9 %

Shares of NYSE ZBH traded down $2.45 during trading hours on Thursday, hitting $127.56. 1,027,868 shares of the stock were exchanged, compared to its average volume of 1,531,713. The company has a quick ratio of 0.78, a current ratio of 1.61 and a debt-to-equity ratio of 0.39. The company has a market cap of $26.21 billion, a PE ratio of 26.49, a PEG ratio of 2.36 and a beta of 1.01. The firm has a fifty day moving average price of $126.28 and a 200-day moving average price of $118.44. Zimmer Biomet has a 12 month low of $102.00 and a 12 month high of $149.25.

Zimmer Biomet (NYSE:ZBH - Get Free Report) last posted its quarterly earnings data on Thursday, February 8th. The medical equipment provider reported $2.20 EPS for the quarter, topping the consensus estimate of $2.15 by $0.05. The firm had revenue of $1.94 billion during the quarter, compared to analyst estimates of $1.93 billion. Zimmer Biomet had a net margin of 13.85% and a return on equity of 12.79%. Zimmer Biomet's revenue was up 6.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.88 EPS. On average, sell-side analysts expect that Zimmer Biomet will post 8.07 EPS for the current year.

Zimmer Biomet Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Friday, March 29th will be paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 0.75%. The ex-dividend date is Wednesday, March 27th. Zimmer Biomet's dividend payout ratio (DPR) is presently 19.63%.

Insiders Place Their Bets

In other 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 value of $3,364,184.72. Following the sale, the vice president now directly 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 Securities & Exchange Commission, which is available through this hyperlink. 0.95% of the stock is owned by insiders.

Institutional Investors Weigh In On Zimmer Biomet

Several large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in Zimmer Biomet by 19.0% during the 1st quarter. Vanguard Group Inc. now owns 23,102,761 shares of the medical equipment provider's stock worth $2,954,843,000 after buying an additional 3,695,510 shares during the period. Dodge & Cox grew its holdings in Zimmer Biomet by 137.7% during the 4th quarter. Dodge & Cox now owns 11,474,535 shares of the medical equipment provider's stock worth $1,396,451,000 after acquiring an additional 6,647,810 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Zimmer Biomet by 18.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 9,426,866 shares of the medical equipment provider's stock worth $1,147,251,000 after acquiring an additional 1,458,359 shares in the last quarter. State Street Corp boosted its holdings in shares of Zimmer Biomet by 3.6% in the 2nd quarter. State Street Corp now owns 9,056,896 shares of the medical equipment provider's stock valued at $1,320,827,000 after buying an additional 318,082 shares in the last quarter. Finally, Primecap Management Co. CA boosted its holdings in shares of Zimmer Biomet by 10.5% in the 4th quarter. Primecap Management Co. CA now owns 5,086,578 shares of the medical equipment provider's stock valued at $619,037,000 after buying an additional 484,151 shares in the last quarter. 88.89% of the stock is owned by hedge funds and other institutional investors.

About Zimmer Biomet

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.