Zimmer Biomet (NYSE:ZBH) Earns Hold Rating from Needham & Company LLC

Zimmer Biomet (NYSE:ZBH)‘s stock had its “hold” rating reissued by Needham & Company LLC in a research note issued on Thursday, Benzinga reports.

Several other equities analysts also recently weighed in on the company. StockNews.com downgraded Zimmer Biomet from a “strong-buy” rating to a “buy” rating in a research report on Monday, February 19th. JPMorgan Chase & Co. lifted their price objective on Zimmer Biomet from $115.00 to $125.00 and gave the stock a “neutral” rating in a research report on Friday, February 9th. Citigroup lifted their price objective on Zimmer Biomet from $134.00 to $140.00 and gave the company a “neutral” rating in a research note on Wednesday, April 3rd. TheStreet raised Zimmer Biomet from a “c” rating to a “b-” rating in a research note on Thursday, February 8th. Finally, Barclays lifted their price objective on Zimmer Biomet from $120.00 to $130.00 and gave the company an “underweight” rating in a research note on Monday, February 12th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $139.39.

Zimmer Biomet Stock Down 1.1 %

Zimmer Biomet stock traded down $1.32 during midday trading on Thursday, reaching $118.24. The company’s stock had a trading volume of 1,367,847 shares, compared to its average volume of 1,457,820. The stock’s 50-day simple moving average is $125.65 and its 200-day simple moving average is $119.91. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.61 and a quick ratio of 0.78. Zimmer Biomet has a 52-week low of $102.00 and a 52-week high of $147.50. The stock has a market capitalization of $24.29 billion, a P/E ratio of 24.26, a PEG ratio of 2.21 and a beta of 1.03.

Zimmer Biomet (NYSE:ZBH) last released its quarterly earnings results on Thursday, May 2nd. The medical equipment provider reported $1.94 EPS for the quarter, beating analysts’ consensus estimates of $1.87 by $0.07. The company had revenue of $1.89 billion during the quarter, compared to analysts’ expectations of $1.87 billion. Zimmer Biomet had a return on equity of 12.79% and a net margin of 13.85%. The firm’s revenue was up 3.2% compared to the same quarter last year. During the same period last year, the business posted $1.89 earnings per share. On average, sell-side analysts expect that Zimmer Biomet will post 8.08 EPS for the current year.

Insider Activity at Zimmer Biomet

In related news, VP Chad F. Phipps sold 26,156 shares of the stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $128.62, for a total value of $3,364,184.72. Following the completion of the sale, the vice president now directly owns 44,145 shares in the company, valued at approximately $5,677,929.90. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.95% of the stock is owned by insiders.

Institutional Trading of Zimmer Biomet

Several large investors have recently modified their holdings of the business. Norges Bank purchased a new position in Zimmer Biomet during the 4th quarter worth approximately $266,896,000. American Century Companies Inc. boosted its stake in shares of Zimmer Biomet by 21.2% during the 3rd quarter. American Century Companies Inc. now owns 4,863,741 shares of the medical equipment provider’s stock valued at $545,809,000 after buying an additional 852,186 shares during the period. Boston Partners boosted its stake in shares of Zimmer Biomet by 29.2% during the 3rd quarter. Boston Partners now owns 2,694,832 shares of the medical equipment provider’s stock valued at $302,366,000 after buying an additional 608,959 shares during the period. Barclays PLC lifted its stake in shares of Zimmer Biomet by 129.2% in the 3rd quarter. Barclays PLC now owns 1,072,494 shares of the medical equipment provider’s stock valued at $120,356,000 after purchasing an additional 604,652 shares during the last quarter. Finally, Van ECK Associates Corp boosted its holdings in Zimmer Biomet by 23.7% during the fourth quarter. Van ECK Associates Corp now owns 2,838,558 shares of the medical equipment provider’s stock valued at $345,452,000 after acquiring an additional 543,344 shares during the period. 88.89% of the stock is currently owned by institutional investors and hedge funds.

Zimmer Biomet Company Profile

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.