UBS Group Upgrades Zimmer Biomet (NYSE:ZBH) to Strong-Buy

Zimmer Biomet (NYSE:ZBH) was upgraded by research analysts at UBS Group to a “strong-buy” rating in a research report issued on Tuesday,Zacks.com reports.

ZBH has been the subject of a number of other reports. BMO Capital Markets started coverage on shares of Zimmer Biomet in a report on Wednesday, July 8th. They set a “market perform” rating and a $95.00 price objective for the company. Wall Street Zen upgraded Zimmer Biomet from a “hold” rating to a “buy” rating in a report on Saturday. Weiss Ratings lowered 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 target price on Zimmer Biomet in a research report on Wednesday, April 29th. Finally, Stifel Nicolaus reduced their price target on shares of Zimmer Biomet from $110.00 to $105.00 and set a “buy” rating on the stock in a research report on Wednesday, April 29th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, twelve have given a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $102.00.

Zimmer Biomet Stock Performance

Zimmer Biomet stock opened at $95.57 on Tuesday. The firm’s 50 day simple moving average is $88.23 and its 200 day simple moving average is $89.79. The company has a current ratio of 1.73, a quick ratio of 0.95 and a debt-to-equity ratio of 0.50. Zimmer Biomet has a 1-year low of $79.12 and a 1-year high of $108.29. The firm has a market capitalization of $18.49 billion, a PE ratio of 24.82, a price-to-earnings-growth ratio of 2.71 and a beta of 0.46.

Zimmer Biomet (NYSE:ZBH) last released its quarterly earnings results on Tuesday, April 28th. The medical equipment provider reported $2.09 earnings per share for the quarter, topping the consensus estimate of $1.86 by $0.23. Zimmer Biomet had a net margin of 9.05% and a return on equity of 13.24%. The firm had revenue of $2.09 billion for the quarter, compared to analysts’ expectations of $2.07 billion. During the same quarter in the prior year, the firm posted $1.81 earnings per share. The business’s quarterly revenue was up 9.3% on a year-over-year basis. As a group, analysts expect that Zimmer Biomet will post 8.48 earnings per share for the current fiscal year.

Insider Activity at Zimmer Biomet

In other news, insider Sang Yi sold 5,000 shares of the company’s stock in a transaction dated Friday, May 29th. The shares were sold at an average price of $82.64, for a total transaction of $413,200.00. Following the completion of the transaction, the insider directly owned 27,251 shares of the company’s stock, valued at approximately $2,252,022.64. This represents 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 hyperlink. Company insiders own 1.28% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of ZBH. M&T Bank Corp grew its position in shares of Zimmer Biomet by 15,705.6% in the 4th quarter. M&T Bank Corp now owns 3,571,595 shares of the medical equipment provider’s stock worth $321,158,000 after buying an additional 3,548,998 shares during the last quarter. Norges Bank bought a new position in shares of Zimmer Biomet during the fourth quarter valued at approximately $221,234,000. Franklin Resources Inc. lifted its stake in Zimmer Biomet by 43.2% in the fourth quarter. Franklin Resources Inc. now owns 6,685,987 shares of the medical equipment provider’s stock worth $601,204,000 after acquiring an additional 2,017,857 shares during the period. Auto Owners Insurance Co boosted its holdings in Zimmer Biomet by 8,892.0% in the fourth quarter. Auto Owners Insurance Co now owns 2,009,712 shares of the medical equipment provider’s stock valued at $180,713,000 after acquiring an additional 1,987,362 shares in the last quarter. Finally, AQR Capital Management LLC boosted its holdings in Zimmer Biomet by 276.6% in the second quarter. AQR Capital Management LLC now owns 1,300,593 shares of the medical equipment provider’s stock valued at $118,627,000 after acquiring an additional 955,284 shares in the last quarter. Institutional investors own 88.89% of the company’s stock.

About Zimmer Biomet

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.