Zimmer Biomet (NYSE:ZBH) Stock Rating Upgraded by Roth Capital

Roth Capital upgraded shares of Zimmer Biomet (NYSE:ZBH - Free Report) from a neutral rating to a buy rating in a report released on Tuesday morning, Marketbeat.com reports. The brokerage currently has $135.00 price objective on the medical equipment provider's stock.

A number of other equities analysts also recently weighed in on the company. BTIG Research reiterated a "buy" rating on shares of Zimmer Biomet in a report on Monday, April 14th. Truist Financial set a $101.00 target price on Zimmer Biomet in a report on Tuesday, May 6th. Robert W. Baird dropped their price objective on Zimmer Biomet from $130.00 to $115.00 and set an "outperform" rating on the stock in a report on Tuesday, May 6th. JMP Securities dropped their price objective on Zimmer Biomet from $140.00 to $125.00 and set a "market outperform" rating on the stock in a report on Wednesday, May 7th. Finally, Stifel Nicolaus set a $115.00 price objective on Zimmer Biomet and gave the stock a "buy" rating in a report on Tuesday, May 6th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have given a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $111.39.

Zimmer Biomet Price Performance

NYSE ZBH traded up $0.17 on Tuesday, reaching $94.20. The company's stock had a trading volume of 1,467,382 shares, compared to its average volume of 1,831,908. Zimmer Biomet has a twelve month low of $89.22 and a twelve month high of $116.71. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.46 and a current ratio of 2.44. The stock has a market cap of $18.64 billion, a PE ratio of 20.84, a PEG ratio of 2.17 and a beta of 0.71. The firm's 50 day moving average is $93.31 and its two-hundred day moving average is $101.08.

Zimmer Biomet (NYSE:ZBH - Get Free Report) last issued its quarterly earnings results on Monday, May 5th. The medical equipment provider reported $1.81 earnings per share for the quarter, beating analysts' consensus estimates of $1.77 by $0.04. The company had revenue of $1.91 billion during the quarter, compared to the consensus estimate of $1.89 billion. Zimmer Biomet had a net margin of 11.86% and a return on equity of 12.73%. Zimmer Biomet's revenue was up 1.1% on a year-over-year basis. During the same period in the prior year, the company earned $1.94 EPS. As a group, sell-side analysts predict that Zimmer Biomet will post 8.22 EPS for the current year.

Zimmer Biomet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Thursday, June 26th will be given a $0.24 dividend. The ex-dividend date is Thursday, June 26th. This represents a $0.96 annualized dividend and a dividend yield of 1.02%. Zimmer Biomet's dividend payout ratio is 21.24%.

Insider Buying and Selling at Zimmer Biomet

In other news, insider Sang Yi sold 1,000 shares of the stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $95.00, for a total value of $95,000.00. Following the completion of the sale, the insider directly owned 20,424 shares of the company's stock, valued at approximately $1,940,280. This represents a 4.67% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.39% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of ZBH. Ameriprise Financial Inc. lifted its position in Zimmer Biomet by 236.0% in the first quarter. Ameriprise Financial Inc. now owns 4,568,287 shares of the medical equipment provider's stock worth $517,039,000 after purchasing an additional 3,208,596 shares during the period. Franklin Resources Inc. lifted its position in Zimmer Biomet by 398.7% in the fourth quarter. Franklin Resources Inc. now owns 3,497,764 shares of the medical equipment provider's stock worth $369,469,000 after purchasing an additional 2,796,372 shares during the period. Norges Bank bought a new position in Zimmer Biomet in the fourth quarter worth $216,223,000. Dodge & Cox lifted its position in Zimmer Biomet by 12.0% in the fourth quarter. Dodge & Cox now owns 19,118,436 shares of the medical equipment provider's stock worth $2,019,480,000 after purchasing an additional 2,044,645 shares during the period. Finally, JPMorgan Chase & Co. raised its stake in Zimmer Biomet by 251.3% during the first 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. 88.89% of the stock is owned by 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.