Zimmer Biomet (NYSE:ZBH) Price Target Raised to $115.00 at Royal Bank Of Canada

Key Points

• The Royal Bank of Canada raised its target price for Zimmer Biomet (NYSE:ZBH) from $112.00 to $115.00, indicating a potential upside of 16.19% from the current price and maintaining an "outperform" rating.
• Multiple analysts, including JMP Securities and Morgan Stanley, have adjusted their price targets for Zimmer Biomet, reflecting mixed ratings across the board; the stock currently has a consensus rating of "Hold."
• Zimmer Biomet reported $2.07 earnings per share for the latest quarter, exceeding estimates, with year-over-year revenue growth of 7.0% and a net margin of 11.86%.

Zimmer Biomet (NYSE:ZBH - Free Report) had its price objective boosted by Royal Bank Of Canada from $112.00 to $115.00 in a report issued on Friday,Benzinga reports. Royal Bank Of Canada currently has an outperform rating on the medical equipment provider's stock.

A number of other equities research analysts also recently weighed in on the stock. JPMorgan Chase & Co. reduced their price target on shares of Zimmer Biomet from $128.00 to $105.00 and set an "overweight" rating on the stock in a research note on Tuesday, May 6th. BTIG Research restated a "buy" rating on shares of Zimmer Biomet in a research note on Monday, April 14th. Evercore ISI dropped their price objective on shares of Zimmer Biomet from $102.00 to $96.00 and set an "in-line" rating for the company in a report on Tuesday, July 8th. UBS Group set a $96.00 price objective on shares of Zimmer Biomet and gave the company a "sell" rating in a report on Friday. Finally, Stifel Nicolaus set a $115.00 price objective on shares of Zimmer Biomet and gave the company a "buy" rating in a report on Tuesday, May 6th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $111.44.

Zimmer Biomet Price Performance

ZBH stock traded up $0.59 during mid-day trading on Friday, hitting $102.41. The stock had a trading volume of 137,375 shares, compared to its average volume of 2,081,237. The company has a current ratio of 1.87, a quick ratio of 0.96 and a debt-to-equity ratio of 0.54. Zimmer Biomet has a 52 week low of $89.22 and a 52 week high of $116.71. The firm has a market capitalization of $20.29 billion, a P/E ratio of 24.94, a P/E/G ratio of 2.28 and a beta of 0.68. The firm has a fifty day simple moving average of $93.71 and a 200 day simple moving average of $99.59.

Zimmer Biomet (NYSE:ZBH - Get Free Report) last released its earnings results on Thursday, August 7th. The medical equipment provider reported $2.07 EPS for the quarter, beating the consensus estimate of $1.98 by $0.09. Zimmer Biomet had a net margin of 10.51% and a return on equity of 12.76%. The firm had revenue of $2.08 billion for the quarter, compared to analyst estimates of $2.06 billion. During the same period last year, the firm earned $2.01 EPS. The business's quarterly revenue was up 7.0% compared to the same quarter last year. As a group, research analysts forecast that Zimmer Biomet will post 8.22 EPS for the current year.

Zimmer Biomet Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Stockholders of record on Thursday, June 26th were paid a $0.24 dividend. The ex-dividend date was Thursday, June 26th. This represents a $0.96 annualized dividend and a dividend yield of 0.9%. Zimmer Biomet's payout ratio is currently 23.36%.

Insider Buying and Selling at Zimmer Biomet

In other news, insider Sang Yi sold 1,000 shares of Zimmer Biomet stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $95.00, for a total value of $95,000.00. Following the completion of the sale, the insider owned 20,424 shares in the company, valued at $1,940,280. The trade was a 4.67% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.70% of the stock is owned by corporate insiders.

Institutional Trading of Zimmer Biomet

Several hedge funds have recently modified their holdings of the stock. Ameriprise Financial Inc. increased its stake in Zimmer Biomet by 236.0% during the 1st quarter. Ameriprise Financial Inc. now owns 4,568,287 shares of the medical equipment provider's stock valued at $517,039,000 after purchasing an additional 3,208,596 shares in the last quarter. Norges Bank bought a new stake in shares of Zimmer Biomet in the 2nd quarter worth $225,867,000. Dodge & Cox grew its stake in shares of Zimmer Biomet by 12.0% in the 4th quarter. Dodge & Cox now owns 19,118,436 shares of the medical equipment provider's stock worth $2,019,480,000 after acquiring an additional 2,044,645 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of Zimmer Biomet by 251.3% in the 1st quarter. JPMorgan Chase & Co. now owns 2,081,381 shares of the medical equipment provider's stock worth $235,571,000 after acquiring an additional 1,488,918 shares in the last quarter. Finally, Nuveen LLC bought a new stake in shares of Zimmer Biomet in the 1st quarter worth $155,891,000. Institutional investors own 88.89% of the company's stock.

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.