Zimmer Biomet Holdings, Inc. (NYSE:ZBH) Given Average Recommendation of "Hold" by Brokerages

Key Points

• Zimmer Biomet has a consensus “Hold” rating from 25 analysts: 12 holds, eight buys, four sells and one strong buy. The average 12-month price target is $102, above the stock’s reported opening price of $94.20.
• Several analysts recently lowered their price targets, including Barclays to $94 and Wells Fargo to $90; Weiss Ratings also downgraded the stock from “hold” to “sell.”
• The company paid a quarterly dividend of $0.24 per share, equivalent to an annualized $0.96 dividend and a 1.0% yield. Institutional investors own approximately 88.89% of Zimmer Biomet’s outstanding shares.

Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Get Free Report) has received an average rating of "Hold" from the twenty-five ratings firms that are presently covering the company, MarketBeat reports. Four analysts have rated the stock with a sell rating, twelve have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $102.00.

A number of equities analysts have commented on the company. Barclays lowered their price objective on Zimmer Biomet from $100.00 to $94.00 and set an "underweight" rating on the stock in a research note on Wednesday, April 29th. Wells Fargo & Company reduced their target price on Zimmer Biomet from $98.00 to $90.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 29th. Weiss Ratings cut Zimmer Biomet from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Monday, July 20th. Canaccord Genuity Group set a $83.00 price objective on shares of Zimmer Biomet in a research report on Wednesday, April 29th. Finally, Citizens Jmp reduced their price objective on shares of Zimmer Biomet from $120.00 to $105.00 and set a "market outperform" rating on the stock in a research note on Wednesday, April 29th.

Zimmer Biomet Trading Up 0.3%

ZBH stock opened at $94.20 on Monday. The company's 50-day simple moving average is $88.84 and its 200 day simple moving average is $89.85. Zimmer Biomet has a 52 week low of $79.12 and a 52 week high of $108.29. The company has a market capitalization of $18.22 billion, a PE ratio of 24.47, a price-to-earnings-growth ratio of 2.77 and a beta of 0.45. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.95 and a current ratio of 1.73.

Zimmer Biomet Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, July 31st. Stockholders of record on Thursday, June 25th were issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend was Thursday, June 25th. Zimmer Biomet's dividend payout ratio is 24.94%.

Insider Activity

In related news, insider Sang Yi sold 5,000 shares of the stock in a transaction that occurred on Friday, May 29th. The shares were sold at an average price of $82.64, for a total transaction of $413,200.00. Following the sale, the insider owned 27,251 shares in the company, valued at approximately $2,252,022.64. This trade represents a 15.50% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 1.28% of the company's stock.

Institutional Investors Weigh In On Zimmer Biomet

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. DV Equities LLC bought a new position in Zimmer Biomet in the fourth quarter valued at about $25,000. Monetary Solutions Ltd acquired a new stake in shares of Zimmer Biomet in the 4th quarter valued at approximately $30,000. Gen Wealth Partners Inc acquired a new stake in shares of Zimmer Biomet in the 4th quarter valued at approximately $31,000. Flagship Harbor Advisors LLC bought a new stake in shares of Zimmer Biomet during the 4th quarter valued at approximately $32,000. Finally, Elevation Wealth Partners LLC grew its holdings in shares of Zimmer Biomet by 145.9% during the 2nd quarter. Elevation Wealth Partners LLC now owns 386 shares of the medical equipment provider's stock valued at $33,000 after purchasing an additional 229 shares during the last quarter. 88.89% of the stock is currently owned by institutional investors.

Zimmer Biomet Company Profile

Zimmer Biomet NYSE: ZBH is a global medical device company focused on musculoskeletal healthcare. Headquartered in Warsaw, Indiana, the company designs, manufactures and markets a broad portfolio of products used to treat joint disorders, bone disorders and related conditions. Its customer base includes orthopaedic and dental surgeons, hospitals, ambulatory surgery centers and other healthcare providers that rely on implants, instruments and related services for reconstructive and restorative procedures.

The company's product offerings span joint replacement systems for hips, knees and shoulders; trauma and extremities implants; spine and thoracic solutions; dental and craniomaxillofacial implants and prosthetics; and sports medicine devices.

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