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

Wolfe Research assumed coverage on shares of Zimmer Biomet (NYSE:ZBH) in a report published on Tuesday, MarketBeat.com reports. The firm issued a peer perform rating on the medical equipment provider’s stock.

A number of other brokerages have also commented on ZBH. Argus upgraded Zimmer Biomet from a hold rating to a buy rating and set a $150.00 price objective on the stock in a research report on Tuesday, May 21st. Robert W. Baird lowered their price objective on Zimmer Biomet from $155.00 to $145.00 and set an outperform rating for the company in a research report on Thursday, August 8th. 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 research report on Thursday, August 8th. Oppenheimer lowered their price target on shares of Zimmer Biomet from $155.00 to $145.00 and set an outperform rating for the company in a research report on Thursday, August 8th. Finally, Morgan Stanley cut their price objective on shares of Zimmer Biomet from $130.00 to $120.00 and set an equal weight rating on the stock in a report on Monday, July 15th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of Hold and a consensus price target of $125.72.

Zimmer Biomet Price Performance

Shares of ZBH stock opened at $105.14 on Tuesday. Zimmer Biomet has a 52 week low of $102.00 and a 52 week high of $133.90. The stock has a market capitalization of $21.63 billion, a PE ratio of 22.76, a PEG ratio of 1.92 and a beta of 1.02. 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 stock’s fifty day moving average is $109.93 and its 200-day moving average is $116.30.

Zimmer Biomet (NYSE:ZBH) last issued its quarterly earnings data on Wednesday, August 7th. The medical equipment provider reported $2.01 EPS for the quarter, topping analysts’ consensus estimates of $1.99 by $0.02. Zimmer Biomet had a net margin of 13.25% and a return on equity of 12.86%. The firm had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.94 billion. During the same quarter in the prior year, the firm earned $1.82 EPS. The company’s revenue was up 3.9% on a year-over-year basis. Equities research analysts expect 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. Stockholders of record on Monday, September 30th will be issued a $0.24 dividend. The ex-dividend date is Monday, September 30th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.91%. Zimmer Biomet’s dividend payout ratio (DPR) is 20.78%.

Hedge Funds Weigh In On Zimmer Biomet

Large investors have recently bought and sold shares of the company. Sanctuary Advisors LLC bought a new stake in Zimmer Biomet during the 2nd quarter worth about $1,677,000. Brown Financial Advisors bought a new stake in Zimmer Biomet during the second quarter worth about $890,000. EP Wealth Advisors LLC boosted its position in Zimmer Biomet by 10.5% during the second quarter. EP Wealth Advisors LLC now owns 2,358 shares of the medical equipment provider’s stock valued at $256,000 after purchasing an additional 225 shares during the last quarter. Brandes Investment Partners LP grew its stake in Zimmer Biomet by 38.8% in the second quarter. Brandes Investment Partners LP now owns 4,499 shares of the medical equipment provider’s stock valued at $488,000 after purchasing an additional 1,258 shares in the last quarter. Finally, Kimelman & Baird LLC acquired a new position in shares of Zimmer Biomet during the 2nd quarter worth approximately $65,000. Institutional investors and hedge funds 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.