Oppenheimer Raises Zimmer Biomet (NYSE:ZBH) Price Target to $155.00

Zimmer Biomet (NYSE:ZBH) had its price objective upped by Oppenheimer from $150.00 to $155.00 in a report published on Friday, Benzinga reports. They currently have an outperform rating on the medical equipment provider’s stock.

Several other brokerages have also recently commented on ZBH. StockNews.com cut shares of Zimmer Biomet from a strong-buy rating to a buy rating in a report on Monday, February 19th. JPMorgan Chase & Co. increased their target price on shares of Zimmer Biomet from $115.00 to $125.00 and gave the stock a neutral rating in a report on Friday, February 9th. Canaccord Genuity Group reaffirmed a hold rating and set a $130.00 price target on shares of Zimmer Biomet in a research report on Friday, February 23rd. Citigroup upped their price target on shares of Zimmer Biomet from $134.00 to $140.00 and gave the stock a neutral rating in a research report on Wednesday, April 3rd. Finally, TheStreet raised shares of Zimmer Biomet from a c rating to a b- rating in a research report on Thursday, February 8th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of Hold and a consensus price target of $135.40.

Zimmer Biomet Trading Up 2.7 %

ZBH opened at $121.66 on Friday. The company has a market cap of $25.00 billion, a price-to-earnings ratio of 26.33, a price-to-earnings-growth ratio of 2.23 and a beta of 1.03. Zimmer Biomet has a fifty-two week low of $102.00 and a fifty-two week high of $147.50. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.66 and a quick ratio of 0.78. The firm has a 50 day simple moving average of $125.30 and a 200 day simple moving average of $120.21.

Zimmer Biomet (NYSE:ZBH) last announced its earnings results on Thursday, May 2nd. The medical equipment provider reported $1.94 EPS for the quarter, topping the consensus estimate of $1.87 by $0.07. Zimmer Biomet had a net margin of 12.93% and a return on equity of 12.70%. The business had revenue of $1.89 billion during the quarter, compared to analysts’ expectations of $1.87 billion. During the same quarter in the prior year, the company posted $1.89 earnings per share. The firm’s revenue was up 3.2% on a year-over-year basis. 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 company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 30th. Shareholders of record on Friday, March 29th were paid a dividend of $0.24 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $0.96 dividend on an annualized basis and a yield of 0.79%. Zimmer Biomet’s payout ratio is 20.78%.

Insiders Place Their Bets

In other news, VP Chad F. Phipps sold 26,156 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $128.62, for a total value of $3,364,184.72. Following the sale, the vice president now directly owns 44,145 shares in the company, valued at approximately $5,677,929.90. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.95% of the company’s stock.

Institutional Investors Weigh In On Zimmer Biomet

Hedge funds have recently made changes to their positions in the stock. OLD Point Trust & Financial Services N A acquired a new stake in Zimmer Biomet during the 4th quarter worth approximately $26,000. Ables Iannone Moore & Associates Inc. acquired a new stake in Zimmer Biomet during the 4th quarter worth approximately $30,000. Naples Money Management LLC bought a new stake in shares of Zimmer Biomet in the 4th quarter valued at $35,000. Activest Wealth Management increased its stake in shares of Zimmer Biomet by 410.4% in the 4th quarter. Activest Wealth Management now owns 342 shares of the medical equipment provider’s stock valued at $42,000 after acquiring an additional 275 shares in the last quarter. Finally, Peoples Bank KS bought a new stake in shares of Zimmer Biomet in the 3rd quarter valued at $48,000. 88.89% of the stock is currently owned by institutional investors and hedge funds.

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.