Traders Buy Zimmer Biomet (ZBH) on Weakness After Analyst Downgrade

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Investors bought shares of Zimmer Biomet Holdings Inc (NYSE:ZBH) on weakness during trading hours on Tuesday after Leerink Swann lowered their price target on the stock from $146.00 to $141.00. $66.72 million flowed into the stock on the tick-up and $44.40 million flowed out of the stock on the tick-down, for a money net flow of $22.32 million into the stock. Of all companies tracked, Zimmer Biomet had the 17th highest net in-flow for the day. Zimmer Biomet traded down ($0.71) for the day and closed at $114.58

ZBH has been the subject of several other research reports. Raymond James increased their price target on shares of Zimmer Biomet from $135.00 to $145.00 and gave the stock an “outperform” rating in a research report on Monday, July 30th. Zacks Investment Research lowered shares of Zimmer Biomet from a “hold” rating to a “sell” rating in a research report on Wednesday, October 17th. Morgan Stanley increased their price target on shares of Zimmer Biomet from $140.00 to $149.00 and gave the stock an “overweight” rating in a research report on Thursday, October 11th. Oppenheimer reissued a “buy” rating on shares of Zimmer Biomet in a research report on Monday, August 27th. Finally, Robert W. Baird increased their price target on shares of Zimmer Biomet from $121.00 to $132.00 and gave the stock a “neutral” rating in a research report on Monday, July 30th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and fifteen have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $133.86.

In other news, CEO Bryan C. Hanson acquired 410 shares of the company’s stock in a transaction dated Friday, August 31st. The stock was bought at an average price of $123.03 per share, with a total value of $50,442.30. Following the completion of the acquisition, the chief executive officer now owns 25,487 shares in the company, valued at approximately $3,135,665.61. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Chad F. Phipps sold 30,100 shares of the firm’s stock in a transaction that occurred on Friday, September 21st. The stock was sold at an average price of $132.37, for a total transaction of $3,984,337.00. The disclosure for this sale can be found here. Company insiders own 0.71% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of ZBH. Migdal Insurance & Financial Holdings Ltd. grew its stake in shares of Zimmer Biomet by 5,200.0% during the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,007 shares of the medical equipment provider’s stock valued at $112,000 after purchasing an additional 988 shares during the last quarter. Regent Investment Management LLC bought a new stake in shares of Zimmer Biomet during the second quarter valued at approximately $201,000. Azimuth Capital Management LLC bought a new stake in shares of Zimmer Biomet during the second quarter valued at approximately $201,000. Aries Wealth Management bought a new stake in shares of Zimmer Biomet during the second quarter valued at approximately $202,000. Finally, HighPoint Advisor Group LLC bought a new stake in shares of Zimmer Biomet during the third quarter valued at approximately $202,000. 86.58% of the stock is owned by institutional investors.

The company has a current ratio of 1.89, a quick ratio of 0.96 and a debt-to-equity ratio of 0.70. The company has a market cap of $23.43 billion, a P/E ratio of 14.15, a P/E/G ratio of 2.12 and a beta of 1.08.

Zimmer Biomet (NYSE:ZBH) last released its quarterly earnings results on Friday, October 26th. The medical equipment provider reported $1.63 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.60 by $0.03. Zimmer Biomet had a net margin of 22.42% and a return on equity of 12.88%. The business had revenue of $1.84 billion for the quarter, compared to analysts’ expectations of $1.84 billion. During the same period in the prior year, the firm earned $1.72 earnings per share. Zimmer Biomet’s revenue was up 1.3% compared to the same quarter last year. Equities analysts anticipate that Zimmer Biomet Holdings Inc will post 7.65 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 31st. Stockholders of record on Friday, September 28th were paid a dividend of $0.24 per share. The ex-dividend date of this dividend was Thursday, September 27th. This represents a $0.96 annualized dividend and a dividend yield of 0.85%. Zimmer Biomet’s dividend payout ratio (DPR) is currently 11.96%.

Zimmer Biomet Company Profile (NYSE:ZBH)

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.

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