Argus Lowers Zimmer Biomet (ZBH) to Hold

Zimmer Biomet (NYSE:ZBH) was downgraded by equities researchers at Argus from a “buy” rating to a “hold” rating in a note issued to investors on Friday, The Fly reports.

Several other equities analysts also recently weighed in on the stock. ValuEngine downgraded shares of Zimmer Biomet from a “hold” rating to a “sell” rating in a report on Thursday, June 7th. Zacks Investment Research upgraded shares of Zimmer Biomet from a “sell” rating to a “hold” rating in a report on Friday, April 27th. Morgan Stanley dropped their target price on shares of Zimmer Biomet from $148.00 to $140.00 and set an “overweight” rating for the company in a report on Friday, April 27th. JMP Securities dropped their target price on shares of Zimmer Biomet from $145.00 to $133.00 and set a “market outperform” rating for the company in a report on Friday, April 27th. Finally, Needham & Company LLC dropped their target price on shares of Zimmer Biomet from $155.00 to $146.00 and set a “strong-buy” rating for the company in a report on Friday, April 27th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $137.71.

Zimmer Biomet opened at $111.51 on Friday, MarketBeat reports. The company has a quick ratio of 1.07, a current ratio of 1.69 and a debt-to-equity ratio of 0.79. Zimmer Biomet has a twelve month low of $104.28 and a twelve month high of $133.49. The stock has a market cap of $22.78 billion, a price-to-earnings ratio of 13.89, a price-to-earnings-growth ratio of 2.19 and a beta of 1.14.

Zimmer Biomet (NYSE:ZBH) last posted its earnings results on Thursday, April 26th. The medical equipment provider reported $1.91 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.89 by $0.02. Zimmer Biomet had a net margin of 21.81% and a return on equity of 14.36%. The firm had revenue of $2.02 billion during the quarter, compared to the consensus estimate of $1.98 billion. During the same period last year, the firm posted $2.13 EPS. The firm’s revenue for the quarter was up 2.1% on a year-over-year basis. research analysts forecast that Zimmer Biomet will post 7.67 EPS for the current year.

In related news, insider Katarzyna Mazur-Hofsaess sold 8,765 shares of the firm’s stock in a transaction that occurred on Tuesday, May 22nd. The shares were sold at an average price of $113.61, for a total value of $995,791.65. Following the sale, the insider now directly owns 25,447 shares of the company’s stock, valued at $2,891,033.67. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Tony W. Collins sold 1,330 shares of the firm’s stock in a transaction that occurred on Monday, April 30th. The stock was sold at an average price of $116.73, for a total transaction of $155,250.90. The disclosure for this sale can be found here. 0.71% of the stock is currently owned by company insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Ceredex Value Advisors LLC purchased a new position in Zimmer Biomet in the first quarter valued at approximately $179,652,000. Two Sigma Advisers LP raised its holdings in Zimmer Biomet by 823.1% in the fourth quarter. Two Sigma Advisers LP now owns 739,522 shares of the medical equipment provider’s stock valued at $89,238,000 after buying an additional 659,412 shares during the period. PointState Capital LP purchased a new position in Zimmer Biomet in the first quarter valued at approximately $55,992,000. JPMorgan Chase & Co. raised its holdings in Zimmer Biomet by 4.8% in the first quarter. JPMorgan Chase & Co. now owns 9,826,738 shares of the medical equipment provider’s stock valued at $1,071,511,000 after buying an additional 450,979 shares during the period. Finally, TIAA CREF Investment Management LLC raised its holdings in Zimmer Biomet by 56.2% in the fourth quarter. TIAA CREF Investment Management LLC now owns 1,132,003 shares of the medical equipment provider’s stock valued at $136,599,000 after buying an additional 407,066 shares during the period. 87.21% of the stock is currently owned by institutional investors and hedge funds.

About Zimmer Biomet

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.

The Fly

Analyst Recommendations for Zimmer Biomet (NYSE:ZBH)

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