Zimmer Biomet (NYSE:ZBH) Price Target Increased to $155.00 by Analysts at Oppenheimer

Zimmer Biomet (NYSE:ZBH) had its price objective hoisted by Oppenheimer from $150.00 to $155.00 in a research note released on Friday, Benzinga reports. Oppenheimer currently has an outperform rating on the medical equipment provider’s stock.

A number of other equities research analysts also recently weighed in on the stock. Barclays lifted their price target on shares of Zimmer Biomet from $120.00 to $130.00 and gave the stock an underweight rating in a research note on Monday, February 12th. Royal Bank of Canada reissued an outperform rating and issued a $140.00 price target on shares of Zimmer Biomet in a research report on Friday, February 9th. TheStreet raised Zimmer Biomet from a c rating to a b- rating in a report on Thursday, February 8th. Citigroup upped their price target on Zimmer Biomet from $134.00 to $140.00 and gave the company a neutral rating in a research report on Wednesday, April 3rd. Finally, Needham & Company LLC reiterated a hold rating on shares of Zimmer Biomet in a research report on Thursday. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of Hold and an average target price of $135.40.

Zimmer Biomet Stock Up 2.7 %

Shares of NYSE ZBH traded up $3.20 during mid-day trading on Friday, reaching $121.66. 1,847,585 shares of the company traded hands, compared to its average volume of 1,304,580. The company’s fifty day moving average is $125.45 and its two-hundred day moving average is $119.90. 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 quick ratio of 0.78 and a current ratio of 1.66. The stock has a market cap of $25.00 billion, a PE ratio of 26.34, a price-to-earnings-growth ratio of 2.17 and a beta of 1.03.

Zimmer Biomet (NYSE:ZBH) last posted its quarterly earnings data on Thursday, May 2nd. The medical equipment provider reported $1.94 EPS for the quarter, topping analysts’ consensus estimates of $1.87 by $0.07. The business had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.87 billion. Zimmer Biomet had a return on equity of 12.70% and a net margin of 12.93%. The firm’s revenue for the quarter was up 3.2% on a year-over-year basis. During the same period in the previous year, the company posted $1.89 earnings per share. On average, analysts expect that Zimmer Biomet will post 8.08 earnings per share for the current year.

Zimmer Biomet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 30th. Stockholders of record on Friday, March 29th were issued a $0.24 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.79%. Zimmer Biomet’s dividend payout ratio (DPR) is presently 20.78%.

Insider Activity at Zimmer Biomet

In related news, VP Chad F. Phipps sold 26,156 shares of the company’s stock in a transaction dated 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 transaction, the vice president now owns 44,145 shares in the company, valued at approximately $5,677,929.90. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 0.95% of the stock is owned by company insiders.

Hedge Funds Weigh In On Zimmer Biomet

A number of hedge funds have recently bought and sold shares of ZBH. PFG Advisors raised its stake in Zimmer Biomet by 4.6% in the fourth quarter. PFG Advisors now owns 1,899 shares of the medical equipment provider’s stock valued at $231,000 after purchasing an additional 84 shares in the last quarter. Quent Capital LLC raised its position in shares of Zimmer Biomet by 21.6% in the 4th quarter. Quent Capital LLC now owns 518 shares of the medical equipment provider’s stock valued at $63,000 after buying an additional 92 shares in the last quarter. Chicago Partners Investment Group LLC lifted its holdings in shares of Zimmer Biomet by 3.3% during the 4th quarter. Chicago Partners Investment Group LLC now owns 2,894 shares of the medical equipment provider’s stock worth $349,000 after acquiring an additional 92 shares during the period. North Star Investment Management Corp. increased its stake in Zimmer Biomet by 16.6% in the first quarter. North Star Investment Management Corp. now owns 669 shares of the medical equipment provider’s stock valued at $88,000 after acquiring an additional 95 shares during the last quarter. Finally, Pinnacle Associates Ltd. raised its position in Zimmer Biomet by 5.0% during the third quarter. Pinnacle Associates Ltd. now owns 2,020 shares of the medical equipment provider’s stock valued at $227,000 after purchasing an additional 97 shares in the last quarter. 88.89% of the stock is owned by institutional investors.

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.