Zimmer Biomet Target of Unusually High Options Trading (NYSE:ZBH)

Zimmer Biomet Holdings, Inc. (NYSE:ZBH) was the target of unusually large options trading on Thursday. Stock investors purchased 3,587 put options on the company. This represents an increase of 191% compared to the typical daily volume of 1,232 put options.

Zimmer Biomet Stock Down 8.1 %

ZBH stock traded down $9.25 during trading hours on Thursday, hitting $105.23. The company’s stock had a trading volume of 1,027,521 shares, compared to its average volume of 1,458,053. The company has a market capitalization of $21.65 billion, a PE ratio of 23.25, a price-to-earnings-growth ratio of 2.06 and a beta of 1.01. The stock has a 50 day moving average price of $110.19 and a two-hundred day moving average price of $117.16. The company has a quick ratio of 0.63, a current ratio of 1.29 and a debt-to-equity ratio of 0.31. Zimmer Biomet has a 12 month low of $102.00 and a 12 month high of $133.90.

Zimmer Biomet (NYSE:ZBH) last posted its earnings results on Wednesday, August 7th. The medical equipment provider reported $2.01 EPS for the quarter, topping the consensus estimate of $1.99 by $0.02. The firm had revenue of $1.94 billion for 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 business’s quarterly revenue was up 3.9% on a year-over-year basis. During the same period in the prior year, the business posted $1.82 earnings per share. On average, equities research analysts expect that Zimmer Biomet will post 8.06 earnings per share for the current year.

Zimmer Biomet Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 30th will be given a dividend of $0.24 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $0.96 dividend on an annualized basis and a yield of 0.91%. Zimmer Biomet’s payout ratio is currently 20.78%.

Hedge Funds Weigh In On Zimmer Biomet

A number of institutional investors have recently modified their holdings of the company. Norges Bank acquired a new position in Zimmer Biomet in the 4th quarter valued at $266,896,000. Price T Rowe Associates Inc. MD increased its stake in shares of Zimmer Biomet by 12.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 10,642,801 shares of the medical equipment provider’s stock worth $1,404,638,000 after purchasing an additional 1,215,935 shares during the period. American Century Companies Inc. lifted its position in shares of Zimmer Biomet by 12.6% during the 2nd quarter. American Century Companies Inc. now owns 6,463,845 shares of the medical equipment provider’s stock worth $701,521,000 after purchasing an additional 722,041 shares during the last quarter. Boston Partners boosted its stake in Zimmer Biomet by 26.3% during the 1st quarter. Boston Partners now owns 3,314,939 shares of the medical equipment provider’s stock valued at $437,413,000 after purchasing an additional 691,191 shares during the period. Finally, Magnetar Financial LLC grew its holdings in Zimmer Biomet by 58.7% in the 2nd quarter. Magnetar Financial LLC now owns 1,310,265 shares of the medical equipment provider’s stock valued at $142,203,000 after buying an additional 484,816 shares during the last quarter. Institutional investors own 88.89% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Canaccord Genuity Group reduced their target price on Zimmer Biomet from $130.00 to $120.00 and set a “hold” rating for the company in a report on Tuesday, August 20th. Robert W. Baird decreased their target price on shares of Zimmer Biomet from $155.00 to $145.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. The Goldman Sachs Group started coverage on shares of Zimmer Biomet in a research report on Thursday, May 30th. They issued a “neutral” rating and a $129.00 target price on the stock. Evercore ISI reduced their price target on shares of Zimmer Biomet from $115.00 to $113.00 and set an “in-line” rating for the company in a research report on Thursday, August 8th. Finally, Morgan Stanley decreased their price objective on shares of Zimmer Biomet from $130.00 to $120.00 and set an “equal weight” rating for the company in a research note on Monday, July 15th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, Zimmer Biomet currently has a consensus rating of “Hold” and a consensus price target of $126.41.

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.