Zimmer Biomet (ZBH) Shares Gap Down After Analyst Downgrade

Zimmer Biomet Holdings Inc (NYSE:ZBH) shares gapped down prior to trading on Monday after Leerink Swann lowered their price target on the stock from $146.00 to $141.00. The stock had previously closed at $114.71, but opened at $115.13. Leerink Swann currently has an outperform rating on the stock. Zimmer Biomet shares last traded at $116.96, with a volume of 33622 shares changing hands.

A number of other brokerages have also recently weighed in on ZBH. Zacks Investment Research cut shares of Zimmer Biomet from a “hold” rating to a “sell” rating in a research note on Wednesday, October 17th. Raymond James increased their price target on shares of Zimmer Biomet from $135.00 to $145.00 and gave the stock an “outperform” rating in a research note on Monday, July 30th. Robert W. Baird increased their price target on shares of Zimmer Biomet from $121.00 to $132.00 and gave the stock a “neutral” rating in a research note on Monday, July 30th. Citigroup increased their price target on shares of Zimmer Biomet from $117.00 to $128.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 31st. Finally, Jefferies Financial Group increased their price target on shares of Zimmer Biomet to $145.00 and gave the stock a “buy” rating in a research note on Monday, July 30th. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and fifteen have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $133.86.

In related news, CEO Bryan C. Hanson purchased 410 shares of the business’s stock in a transaction dated Friday, August 31st. The stock was acquired at an average price of $123.03 per share, for a total transaction of $50,442.30. Following the acquisition, the chief executive officer now directly owns 25,487 shares of the company’s stock, valued at approximately $3,135,665.61. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Chad F. Phipps sold 30,100 shares of the stock in a transaction dated Friday, September 21st. The shares were sold at an average price of $132.37, for a total transaction of $3,984,337.00. The disclosure for this sale can be found here. Company insiders own 0.71% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Regentatlantic Capital LLC increased its holdings in Zimmer Biomet by 13.4% during the 3rd quarter. Regentatlantic Capital LLC now owns 51,801 shares of the medical equipment provider’s stock valued at $6,810,000 after acquiring an additional 6,114 shares in the last quarter. Biechele Royce Advisors increased its holdings in Zimmer Biomet by 3.8% during the 3rd quarter. Biechele Royce Advisors now owns 44,758 shares of the medical equipment provider’s stock valued at $5,884,000 after acquiring an additional 1,628 shares in the last quarter. Palladium Partners LLC purchased a new position in Zimmer Biomet during the 3rd quarter valued at about $254,000. Financial Architects Inc purchased a new position in Zimmer Biomet during the 3rd quarter valued at about $433,000. Finally, Assenagon Asset Management S.A. increased its holdings in Zimmer Biomet by 33.2% during the 3rd quarter. Assenagon Asset Management S.A. now owns 8,456 shares of the medical equipment provider’s stock valued at $1,112,000 after acquiring an additional 2,106 shares in the last quarter. Institutional investors and hedge funds own 86.58% of the company’s stock.

The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.96 and a current ratio of 1.89. The firm has a market cap of $23.43 billion, a price-to-earnings ratio of 14.27, a PEG ratio of 2.11 and a beta of 1.08.

Zimmer Biomet (NYSE:ZBH) last posted its earnings results on Friday, October 26th. The medical equipment provider reported $1.63 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.60 by $0.03. Zimmer Biomet had a net margin of 22.42% and a return on equity of 12.88%. The firm had revenue of $1.84 billion during the quarter, compared to the consensus estimate of $1.84 billion. During the same period last year, the firm posted $1.72 EPS. The firm’s revenue for the quarter was up 1.3% on a year-over-year basis. As a group, analysts forecast that Zimmer Biomet Holdings Inc will post 7.66 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 31st. Shareholders of record on Friday, September 28th will be issued a dividend of $0.24 per share. The ex-dividend date of this dividend is Thursday, September 27th. This represents a $0.96 annualized dividend and a yield of 0.84%. Zimmer Biomet’s dividend payout ratio (DPR) is currently 11.96%.

Zimmer Biomet Company Profile (NYSE:ZBH)

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.

Recommended Story: Index Funds

Receive News & Ratings for Zimmer Biomet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Zimmer Biomet and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply