Zimmer Biomet (NYSE:ZBH) Rating Increased to Buy at Canaccord Genuity

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Zimmer Biomet (NYSE:ZBH) was upgraded by research analysts at Canaccord Genuity from a “hold” rating to a “buy” rating in a report issued on Wednesday, MarketBeat Ratings reports. The firm presently has a $167.00 price target on the medical equipment provider’s stock, up from their previous price target of $137.00. Canaccord Genuity’s price target suggests a potential upside of 19.58% from the stock’s previous close.

Several other equities research analysts also recently commented on ZBH. ValuEngine downgraded Zimmer Biomet from a “buy” rating to a “hold” rating in a report on Wednesday, August 21st. Citigroup boosted their price objective on Zimmer Biomet from $146.00 to $158.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Zacks Investment Research upgraded Zimmer Biomet from a “hold” rating to a “buy” rating and set a $149.00 price objective for the company in a report on Saturday, August 31st. Jefferies Financial Group boosted their price objective on Zimmer Biomet from $150.00 to $167.00 and gave the company a “buy” rating in a report on Monday, July 29th. They noted that the move was a valuation call. Finally, Argus upgraded Zimmer Biomet from a “hold” rating to a “buy” rating and set a $160.00 price target for the company in a report on Monday, August 12th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and seventeen have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $143.99.

NYSE ZBH opened at $139.66 on Wednesday. The company has a market cap of $28.26 billion, a price-to-earnings ratio of 18.28, a P/E/G ratio of 2.46 and a beta of 1.15. Zimmer Biomet has a 52 week low of $96.99 and a 52 week high of $143.57. The business has a 50 day moving average price of $137.64 and a 200-day moving average price of $125.86. The company has a quick ratio of 0.56, a current ratio of 1.19 and a debt-to-equity ratio of 0.58.

Zimmer Biomet (NYSE:ZBH) last released its quarterly earnings data on Friday, July 26th. The medical equipment provider reported $1.93 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.91 by $0.02. The firm had revenue of $1.99 billion during the quarter, compared to the consensus estimate of $1.98 billion. Zimmer Biomet had a positive return on equity of 13.40% and a negative net margin of 4.56%. The company’s quarterly revenue was down .9% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.92 earnings per share. On average, equities research analysts anticipate that Zimmer Biomet will post 7.82 earnings per share for the current year.

In other Zimmer Biomet news, insider Didier Deltort sold 360 shares of the company’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $139.25, for a total value of $50,130.00. Following the completion of the transaction, the insider now owns 1,194 shares in the company, valued at approximately $166,264.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Chad F. Phipps sold 7,000 shares of the company’s stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $138.28, for a total value of $967,960.00. Following the completion of the transaction, the vice president now owns 37,722 shares of the company’s stock, valued at approximately $5,216,198.16. The disclosure for this sale can be found here. Insiders sold a total of 40,391 shares of company stock valued at $5,642,274 in the last 90 days. Corporate insiders own 0.72% of the company’s stock.

Large investors have recently made changes to their positions in the business. Personal Wealth Partners bought a new position in Zimmer Biomet in the 2nd quarter valued at $26,000. TRUE Private Wealth Advisors bought a new position in Zimmer Biomet in the 2nd quarter valued at $26,000. Coastal Investment Advisors Inc. grew its stake in Zimmer Biomet by 271.0% in the 2nd quarter. Coastal Investment Advisors Inc. now owns 256 shares of the medical equipment provider’s stock valued at $30,000 after purchasing an additional 187 shares during the period. Private Ocean LLC grew its stake in Zimmer Biomet by 34.8% in the 2nd quarter. Private Ocean LLC now owns 310 shares of the medical equipment provider’s stock valued at $36,000 after purchasing an additional 80 shares during the period. Finally, CSat Investment Advisory L.P. grew its stake in Zimmer Biomet by 240.0% in the 2nd quarter. CSat Investment Advisory L.P. now owns 323 shares of the medical equipment provider’s stock valued at $38,000 after purchasing an additional 228 shares during the period. Hedge funds and other institutional investors own 87.83% of the company’s stock.

Zimmer Biomet Company Profile

Zimmer Biomet Holdings, Inc, together with its subsidiaries, designs, manufactures, and markets musculoskeletal healthcare products and solutions in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. It operates through four segments: Spine, less Asia Pacific; Office Based Technologies; Craniomaxillofacial and Thoracic; and Dental.

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Analyst Recommendations for Zimmer Biomet (NYSE:ZBH)

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