BTIG Research assumed coverage on shares of Zimmer Biomet (NYSE:ZBH) in a research report released on Thursday, MarketBeat Ratings reports. The brokerage issued a neutral rating on the medical equipment provider’s stock.

A number of other equities research analysts also recently weighed in on the company. Needham & Company LLC downgraded Zimmer Biomet from a strong-buy rating to a buy rating and set a $150.00 price target on the stock. in a research report on Monday. Citigroup raised their price target on Zimmer Biomet from $117.00 to $128.00 and gave the company a neutral rating in a research report on Tuesday, July 31st. Jefferies Financial Group raised their price target on Zimmer Biomet to $145.00 and gave the company a buy rating in a research report on Monday, July 30th. Piper Jaffray Companies raised their price target on Zimmer Biomet from $110.00 to $120.00 and gave the company a neutral rating in a research report on Monday, July 30th. Finally, Robert W. Baird raised their price target on Zimmer Biomet from $121.00 to $132.00 and gave the company a neutral rating in a research report on Monday, July 30th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and sixteen have issued a buy rating to the company’s stock. The company has an average rating of Buy and an average price target of $135.43.

NYSE:ZBH traded up $1.29 during trading hours on Thursday, hitting $124.05. 38,649 shares of the company’s stock traded hands, compared to its average volume of 1,200,883. Zimmer Biomet has a 52 week low of $104.28 and a 52 week high of $129.34. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.25 and a current ratio of 2.41. The firm has a market capitalization of $24.94 billion, a price-to-earnings ratio of 15.30, a P/E/G ratio of 2.23 and a beta of 1.13.

Zimmer Biomet (NYSE:ZBH) last released its quarterly earnings results on Friday, July 27th. The medical equipment provider reported $1.92 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.88 by $0.04. Zimmer Biomet had a return on equity of 13.53% and a net margin of 21.67%. The business had revenue of $2.01 billion for the quarter, compared to the consensus estimate of $1.99 billion. During the same quarter last year, the business posted $2.08 earnings per share. The company’s revenue for the quarter was up 3.0% on a year-over-year basis. equities analysts forecast that Zimmer Biomet will post 7.67 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 31st. Stockholders of record on Friday, June 29th were issued a $0.24 dividend. The ex-dividend date of this dividend was Thursday, June 28th. This represents a $0.96 annualized dividend and a dividend yield of 0.77%. Zimmer Biomet’s dividend payout ratio is currently 11.96%.

In related news, VP Tony W. Collins sold 2,778 shares of the business’s stock in a transaction dated Tuesday, July 31st. The stock was sold at an average price of $125.77, for a total transaction of $349,389.06. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Katarzyna Mazur-Hofsaess sold 8,765 shares of the business’s stock in a transaction dated Tuesday, May 22nd. The shares were sold at an average price of $113.61, for a total value of $995,791.65. Following the transaction, the insider now owns 25,447 shares in the company, valued at approximately $2,891,033.67. The disclosure for this sale can be found here. 0.71% of the stock is currently owned by insiders.

A number of large investors have recently made changes to their positions in the stock. MainStreet Investment Advisors LLC increased its holdings in Zimmer Biomet by 8.9% during the 2nd quarter. MainStreet Investment Advisors LLC now owns 4,881 shares of the medical equipment provider’s stock valued at $544,000 after purchasing an additional 399 shares during the period. Bradley Foster & Sargent Inc. CT boosted its position in Zimmer Biomet by 6.7% during the 2nd quarter. Bradley Foster & Sargent Inc. CT now owns 6,773 shares of the medical equipment provider’s stock valued at $755,000 after acquiring an additional 423 shares in the last quarter. TD Asset Management Inc. boosted its position in Zimmer Biomet by 0.7% during the 2nd quarter. TD Asset Management Inc. now owns 61,859 shares of the medical equipment provider’s stock valued at $6,894,000 after acquiring an additional 425 shares in the last quarter. MUFG Americas Holdings Corp boosted its position in Zimmer Biomet by 18.0% during the 2nd quarter. MUFG Americas Holdings Corp now owns 2,906 shares of the medical equipment provider’s stock valued at $324,000 after acquiring an additional 443 shares in the last quarter. Finally, UMB Bank N A MO boosted its position in Zimmer Biomet by 4.5% during the 2nd quarter. UMB Bank N A MO now owns 10,467 shares of the medical equipment provider’s stock valued at $1,167,000 after acquiring an additional 455 shares in the last quarter. Institutional investors own 87.11% of the company’s stock.

About Zimmer Biomet

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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