Wolfe Research Initiates Coverage on Zimmer Biomet (NYSE:ZBH)

Wolfe Research began coverage on shares of Zimmer Biomet (NYSE:ZBH) in a research note released on Tuesday, MarketBeat.com reports. The brokerage issued a peer perform rating on the medical equipment provider’s stock.

ZBH has been the subject of several other reports. Needham & Company LLC reissued a hold rating on shares of Zimmer Biomet in a report on Thursday, August 8th. Citigroup decreased their price objective on Zimmer Biomet from $134.00 to $120.00 and set a neutral rating for the company in a report on Wednesday, July 10th. Raymond James cut their target price on shares of Zimmer Biomet from $138.00 to $128.00 and set an outperform rating on the stock in a report on Thursday, August 8th. Canaccord Genuity Group reduced their target price on shares of Zimmer Biomet from $130.00 to $120.00 and set a hold rating for the company in a report on Tuesday, August 20th. Finally, Evercore ISI reissued an in-line rating and set a $113.00 price target on shares of Zimmer Biomet in a report on Thursday, September 5th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, Zimmer Biomet has an average rating of Hold and a consensus target price of $125.44.

Zimmer Biomet Price Performance

Shares of NYSE ZBH opened at $106.26 on Tuesday. The stock’s 50-day simple moving average is $109.90 and its 200-day simple moving average is $116.16. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.63 and a current ratio of 1.29. The firm has a market capitalization of $21.64 billion, a PE ratio of 23.00, a price-to-earnings-growth ratio of 1.92 and a beta of 1.02. Zimmer Biomet has a fifty-two week low of $102.00 and a fifty-two week high of $133.90.

Zimmer Biomet (NYSE:ZBH) last issued its quarterly earnings data on Wednesday, August 7th. The medical equipment provider reported $2.01 earnings per share for the quarter, topping the consensus estimate of $1.99 by $0.02. The business had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.94 billion. Zimmer Biomet had a net margin of 13.25% and a return on equity of 12.86%. The company’s revenue was up 3.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.82 EPS. As a group, equities research analysts forecast that Zimmer Biomet will post 8.02 EPS for the current fiscal year.

Zimmer Biomet Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 30th will be issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.90%. The ex-dividend date of this dividend is Monday, September 30th. Zimmer Biomet’s dividend payout ratio is currently 20.78%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Private Advisor Group LLC raised its position in Zimmer Biomet by 12.3% during the fourth quarter. Private Advisor Group LLC now owns 10,610 shares of the medical equipment provider’s stock worth $1,291,000 after acquiring an additional 1,164 shares during the last quarter. Principal Securities Inc. purchased a new stake in Zimmer Biomet in the 4th quarter valued at approximately $237,000. BNP Paribas Financial Markets grew its holdings in Zimmer Biomet by 1.3% during the 4th quarter. BNP Paribas Financial Markets now owns 200,928 shares of the medical equipment provider’s stock valued at $24,453,000 after buying an additional 2,525 shares during the last quarter. QRG Capital Management Inc. increased its position in Zimmer Biomet by 3.7% during the 4th quarter. QRG Capital Management Inc. now owns 4,393 shares of the medical equipment provider’s stock worth $535,000 after purchasing an additional 156 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Zimmer Biomet by 10.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,596,726 shares of the medical equipment provider’s stock worth $194,321,000 after buying an additional 147,208 shares in the last quarter. Hedge funds and other institutional investors own 88.89% of the company’s stock.

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.