Zimmer Biomet (NYSE:ZBH) Stock Rating Upgraded by Roth Capital

Zimmer Biomet (NYSE:ZBH) was upgraded by investment analysts at Roth Capital from a “neutral” rating to a “buy” rating in a note issued to investors on Tuesday, Marketbeat reports. The brokerage presently has a $135.00 price objective on the medical equipment provider’s stock. Roth Capital’s price objective would indicate a potential upside of 43.32% from the company’s previous close.

Several other brokerages have also recently commented on ZBH. Canaccord Genuity Group decreased their price target on shares of Zimmer Biomet from $115.00 to $101.00 and set a “hold” rating for the company in a research report on Monday, May 12th. Stifel Nicolaus set a $115.00 price objective on shares of Zimmer Biomet and gave the company a “buy” rating in a research note on Tuesday, May 6th. BTIG Research restated a “buy” rating on shares of Zimmer Biomet in a research note on Monday, April 14th. Evercore ISI dropped their price target on shares of Zimmer Biomet from $102.00 to $96.00 and set an “in-line” rating on the stock in a research note on Tuesday, July 8th. Finally, Royal Bank Of Canada lowered their target price on shares of Zimmer Biomet from $125.00 to $112.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 6th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, Zimmer Biomet presently has an average rating of “Hold” and a consensus target price of $111.39.

Zimmer Biomet Stock Performance

Zimmer Biomet stock opened at $94.20 on Tuesday. The firm has a 50 day simple moving average of $93.31 and a 200-day simple moving average of $101.08. Zimmer Biomet has a 1-year low of $89.22 and a 1-year high of $116.71. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.44 and a quick ratio of 1.46. The stock has a market cap of $18.64 billion, a price-to-earnings ratio of 20.84, a price-to-earnings-growth ratio of 2.17 and a beta of 0.71.

Zimmer Biomet (NYSE:ZBH) last posted its earnings results on Monday, May 5th. The medical equipment provider reported $1.81 earnings per share for the quarter, beating the consensus estimate of $1.77 by $0.04. Zimmer Biomet had a net margin of 11.86% and a return on equity of 12.73%. The firm had revenue of $1.91 billion during the quarter, compared to the consensus estimate of $1.89 billion. During the same quarter last year, the firm earned $1.94 EPS. The firm’s revenue for the quarter was up 1.1% on a year-over-year basis. On average, analysts expect that Zimmer Biomet will post 8.22 EPS for the current year.

Insiders Place Their Bets

In other news, insider Sang Yi sold 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $95.00, for a total transaction of $95,000.00. Following the sale, the insider owned 20,424 shares in the company, valued at $1,940,280. The trade was a 4.67% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.39% of the company’s stock.

Institutional Trading of Zimmer Biomet

Several large investors have recently added to or reduced their stakes in ZBH. First American Bank bought a new stake in shares of Zimmer Biomet during the 2nd quarter worth $567,000. State of Alaska Department of Revenue raised its stake in Zimmer Biomet by 89.8% during the 2nd quarter. State of Alaska Department of Revenue now owns 44,261 shares of the medical equipment provider’s stock valued at $4,036,000 after purchasing an additional 20,945 shares during the last quarter. ST Germain D J Co. Inc. raised its stake in Zimmer Biomet by 11.6% during the 2nd quarter. ST Germain D J Co. Inc. now owns 113,873 shares of the medical equipment provider’s stock valued at $10,386,000 after purchasing an additional 11,801 shares during the last quarter. Dakota Wealth Management raised its stake in Zimmer Biomet by 9.5% during the 2nd quarter. Dakota Wealth Management now owns 10,721 shares of the medical equipment provider’s stock valued at $978,000 after purchasing an additional 930 shares during the last quarter. Finally, Perigon Wealth Management LLC raised its stake in Zimmer Biomet by 30.1% during the 2nd quarter. Perigon Wealth Management LLC now owns 2,452 shares of the medical equipment provider’s stock valued at $224,000 after purchasing an additional 568 shares during 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.