Zimmer Biomet (NYSE:ZBH) Upgraded at Argus

Argus upgraded shares of Zimmer Biomet (NYSE:ZBH) from a hold rating to a buy rating in a research report sent to investors on Tuesday morning, Marketbeat Ratings reports. The firm currently has $150.00 price target on the medical equipment provider’s stock.

A number of other analysts also recently weighed in on ZBH. Canaccord Genuity Group reiterated a hold rating and issued a $130.00 price target on shares of Zimmer Biomet in a research report on Friday, February 23rd. TheStreet upgraded shares of Zimmer Biomet from a c rating to a b- rating in a research report on Thursday, February 8th. StockNews.com lowered Zimmer Biomet from a strong-buy rating to a buy rating in a report on Monday, February 19th. Needham & Company LLC reaffirmed a hold rating on shares of Zimmer Biomet in a research report on Friday, May 17th. Finally, Barclays lifted their price objective on Zimmer Biomet from $120.00 to $130.00 and gave the company an underweight rating in a report on Monday, February 12th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of Hold and a consensus target price of $134.40.

Zimmer Biomet Trading Up 0.5 %

ZBH opened at $116.41 on Tuesday. Zimmer Biomet has a fifty-two week low of $102.00 and a fifty-two week high of $147.50. The company has a market cap of $23.95 billion, a price-to-earnings ratio of 25.20, a price-to-earnings-growth ratio of 2.09 and a beta of 1.03. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.66 and a quick ratio of 0.80. The firm has a 50 day simple moving average of $123.45 and a 200 day simple moving average of $121.51.

Zimmer Biomet (NYSE:ZBH) last posted its quarterly earnings results on Thursday, May 2nd. The medical equipment provider reported $1.94 earnings per share for the quarter, beating analysts’ consensus estimates of $1.87 by $0.07. The company had revenue of $1.89 billion for the quarter, compared to the consensus estimate of $1.87 billion. Zimmer Biomet had a return on equity of 12.70% and a net margin of 12.93%. The firm’s quarterly revenue was up 3.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.89 EPS. On average, sell-side analysts anticipate that Zimmer Biomet will post 8.1 earnings per share for the current year.

Zimmer Biomet Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Wednesday, June 26th will be paid a dividend of $0.24 per share. The ex-dividend date is Wednesday, June 26th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.82%. Zimmer Biomet’s dividend payout ratio is 20.78%.

Institutional Trading of Zimmer Biomet

A number of hedge funds and other institutional investors have recently modified their holdings of ZBH. Cetera Advisors LLC bought a new position in Zimmer Biomet in the first quarter valued at approximately $6,431,000. Cetera Investment Advisers grew its stake in shares of Zimmer Biomet by 9.2% in the first quarter. Cetera Investment Advisers now owns 64,491 shares of the medical equipment provider’s stock valued at $8,512,000 after buying an additional 5,454 shares in the last quarter. PGGM Investments increased its holdings in Zimmer Biomet by 2.5% during the first quarter. PGGM Investments now owns 22,603 shares of the medical equipment provider’s stock worth $2,983,000 after buying an additional 543 shares during the last quarter. Swedbank AB bought a new stake in Zimmer Biomet during the first quarter worth $2,740,000. Finally, LRI Investments LLC acquired a new stake in Zimmer Biomet in the first quarter valued at $68,000. Institutional investors and hedge funds 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.