Zimmer Biomet (NYSE:ZBH) Upgraded at UBS Group

Key Points

• UBS Group upgraded Zimmer Biomet to “strong buy,” although the broader analyst consensus remains “hold,” with an average price target of $102.
• Zimmer Biomet shares rose 3.8% to open at $95.57, while the company’s latest quarterly results exceeded expectations with $2.09 in adjusted EPS and $2.09 billion in revenue.
• Institutional investors own approximately 88.89% of the company, while an insider recently sold 5,000 shares at an average price of $82.64.

Zimmer Biomet (NYSE:ZBH - Get Free Report) was upgraded by UBS Group to a "strong-buy" rating in a research note issued on Tuesday,Zacks.com reports.

Several other research analysts have also recently issued reports on the company. Barclays cut their target price on Zimmer Biomet from $100.00 to $94.00 and set an "underweight" rating on the stock in a research report on Wednesday, April 29th. Canaccord Genuity Group set a $83.00 target price on shares of Zimmer Biomet in a research note on Wednesday, April 29th. BMO Capital Markets started coverage on shares of Zimmer Biomet in a research report on Wednesday, July 8th. They set a "market perform" rating and a $95.00 price target on the stock. Leerink Partners started coverage on shares of Zimmer Biomet in a report on Monday, April 13th. They set a "hold" rating and a $101.00 price target on the stock. Finally, Weiss Ratings cut shares of Zimmer Biomet from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Monday, July 20th. Two investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, twelve have issued a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $102.00.

Zimmer Biomet Stock Up 3.8%

Zimmer Biomet stock opened at $95.57 on Tuesday. The company has a current ratio of 1.73, a quick ratio of 0.95 and a debt-to-equity ratio of 0.50. The firm's fifty day moving average price is $88.23 and its two-hundred day moving average price is $89.79. The firm has a market capitalization of $18.49 billion, a price-to-earnings ratio of 24.82, a price-to-earnings-growth ratio of 2.71 and a beta of 0.46. Zimmer Biomet has a 1-year low of $79.12 and a 1-year high of $108.29.

Zimmer Biomet (NYSE:ZBH - Get Free Report) last announced its quarterly earnings results on Tuesday, April 28th. The medical equipment provider reported $2.09 earnings per share for the quarter, beating the consensus estimate of $1.86 by $0.23. The business had revenue of $2.09 billion for the quarter, compared to analysts' expectations of $2.07 billion. Zimmer Biomet had a net margin of 9.05% and a return on equity of 13.24%. The firm's revenue for the quarter was up 9.3% compared to the same quarter last year. During the same quarter last year, the firm earned $1.81 EPS. On average, equities research analysts predict that Zimmer Biomet will post 8.48 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Zimmer Biomet news, insider Sang Yi sold 5,000 shares of Zimmer Biomet stock in a transaction dated Friday, May 29th. The shares were sold at an average price of $82.64, for a total value of $413,200.00. Following the sale, the insider owned 27,251 shares of the company's stock, valued at approximately $2,252,022.64. The trade was a 15.50% decrease in their ownership of the stock. The sale 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.

Hedge Funds Weigh In On Zimmer Biomet

Several institutional investors have recently bought and sold shares of the company. PNC Financial Services Group Inc. raised its stake in Zimmer Biomet by 9.4% in the 4th quarter. PNC Financial Services Group Inc. now owns 161,195 shares of the medical equipment provider's stock valued at $14,495,000 after acquiring an additional 13,883 shares during the period. Morningstar Investment Management LLC raised its position in shares of Zimmer Biomet by 235.4% in the fourth quarter. Morningstar Investment Management LLC now owns 57,865 shares of the medical equipment provider's stock valued at $5,204,000 after purchasing an additional 40,610 shares during the period. Douglas Lane & Associates LLC lifted its stake in shares of Zimmer Biomet by 6.7% during the 4th quarter. Douglas Lane & Associates LLC now owns 460,178 shares of the medical equipment provider's stock valued at $41,379,000 after buying an additional 28,818 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its stake in shares of Zimmer Biomet by 257.2% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 34,370 shares of the medical equipment provider's stock valued at $3,091,000 after buying an additional 24,748 shares in the last quarter. Finally, CIBC Asset Management Inc grew its stake in Zimmer Biomet by 67.6% in the 4th quarter. CIBC Asset Management Inc now owns 46,516 shares of the medical equipment provider's stock valued at $4,183,000 after buying an additional 18,769 shares in the last quarter. Hedge funds and other institutional investors own 88.89% of the company's stock.

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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