Raymond James Financial Raises Zimmer Biomet (NYSE:ZBH) Price Target to $113.00

Zimmer Biomet (NYSE:ZBH) had its target price boosted by Raymond James Financial from $104.00 to $113.00 in a research note issued to investors on Friday morning,Benzinga reports. Raymond James Financial currently has an outperform rating on the medical equipment provider’s stock.

ZBH has been the subject of several other reports. Wells Fargo & Company decreased their price target on shares of Zimmer Biomet from $113.00 to $98.00 and set an “equal weight” rating for the company in a research note on Tuesday, May 6th. Robert W. Baird decreased their price target on shares of Zimmer Biomet from $130.00 to $115.00 and set an “outperform” rating for the company in a research note on Tuesday, May 6th. BTIG Research reiterated a “buy” rating on shares of Zimmer Biomet in a research note on Monday, April 14th. Royal Bank Of Canada decreased their price target on shares of Zimmer Biomet from $125.00 to $112.00 and set an “outperform” rating for the company in a research note on Tuesday, May 6th. Finally, The Goldman Sachs Group decreased their price target on shares of Zimmer Biomet from $120.00 to $104.00 and set a “neutral” rating for the company in a research note on Tuesday, May 6th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $111.44.

Zimmer Biomet Trading Up 0.7%

NYSE:ZBH opened at $99.14 on Friday. The company has a 50-day moving average price of $93.34 and a 200-day moving average price of $99.65. Zimmer Biomet has a 12 month low of $89.22 and a 12 month high of $116.71. The company has a current ratio of 1.87, a quick ratio of 0.96 and a debt-to-equity ratio of 0.54. The stock has a market cap of $19.64 billion, a price-to-earnings ratio of 24.12, a P/E/G ratio of 2.28 and a beta of 0.68.

Zimmer Biomet (NYSE:ZBH) last posted its earnings results on Thursday, August 7th. The medical equipment provider reported $2.07 EPS for the quarter, topping the consensus estimate of $1.98 by $0.09. Zimmer Biomet had a net margin of 10.51% and a return on equity of 12.76%. The firm had revenue of $2.08 billion during the quarter, compared to analysts’ expectations of $2.06 billion. During the same period last year, the company posted $2.01 EPS. The company’s quarterly revenue was up 7.0% compared to the same quarter last year. Equities analysts predict that Zimmer Biomet will post 8.22 EPS for the current year.

Zimmer Biomet Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Stockholders of record on Thursday, June 26th were paid a $0.24 dividend. The ex-dividend date was Thursday, June 26th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.0%. Zimmer Biomet’s payout ratio is currently 23.36%.

Insider Activity at Zimmer Biomet

In other news, insider Sang Yi sold 1,000 shares of Zimmer Biomet stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $95.00, for a total value of $95,000.00. Following the completion of the sale, the insider directly owned 20,424 shares in the company, valued at $1,940,280. The trade was a 4.67% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.70% of the stock is owned by corporate insiders.

Institutional Trading of Zimmer Biomet

Large investors have recently made changes to their positions in the stock. Brighton Jones LLC purchased a new position in shares of Zimmer Biomet in the fourth quarter worth approximately $204,000. Envestnet Asset Management Inc. boosted its holdings in shares of Zimmer Biomet by 24.9% in the fourth quarter. Envestnet Asset Management Inc. now owns 250,194 shares of the medical equipment provider’s stock worth $26,428,000 after buying an additional 49,821 shares during the last quarter. FMR LLC boosted its holdings in shares of Zimmer Biomet by 91.6% in the fourth quarter. FMR LLC now owns 1,438,011 shares of the medical equipment provider’s stock worth $151,897,000 after buying an additional 687,675 shares during the last quarter. Cerity Partners LLC boosted its holdings in shares of Zimmer Biomet by 6.6% in the fourth quarter. Cerity Partners LLC now owns 42,951 shares of the medical equipment provider’s stock worth $4,587,000 after buying an additional 2,644 shares during the last quarter. Finally, Bank of Montreal Can boosted its holdings in shares of Zimmer Biomet by 47.6% in the fourth quarter. Bank of Montreal Can now owns 296,766 shares of the medical equipment provider’s stock worth $31,347,000 after buying an additional 95,667 shares during the last quarter. 88.89% of the stock is currently owned by institutional investors.

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.