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Zimmer Holdings (NYSE:ZMH) was upgraded by SunTrust from a “neutral” rating to a “buy” rating in a research note issued on Thursday, TheFlyOnTheWall.com reports. The firm currently has a $120.00 price target on the stock, up from their previous price target of $93.00. SunTrust’s target price indicates a potential upside of 18.89% from the company’s current price.

Zimmer Holdings (NYSE:ZMH) traded down 0.97% on Thursday, hitting $99.95. The stock had a trading volume of 1,052,221 shares. Zimmer Holdings has a 52-week low of $74.55 and a 52-week high of $108.33. The stock’s 50-day moving average is $96.14 and its 200-day moving average is $93.81. The company has a market cap of $16.774 billion and a P/E ratio of 22.73. Zimmer Holdings also was the recipient of a large drop in short interest in April. As of April 30th, there was short interest totalling 2,471,377 shares, a drop of 38.0% from the April 15th total of 3,984,759 shares. Approximately 1.5% of the shares of the stock are sold short. Based on an average daily volume of 3,049,244 shares, the days-to-cover ratio is presently 0.8 days.

Zimmer Holdings (NYSE:ZMH) last issued its quarterly earnings data on Thursday, April 24th. The company reported $1.50 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.47 by $0.03. The company had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.18 billion. During the same quarter last year, the company posted $1.41 earnings per share. Zimmer Holdings’s revenue was up 2.0% compared to the same quarter last year. Analysts expect that Zimmer Holdings will post $6.12 EPS for the current fiscal year.

Several other analysts have also recently commented on the stock. Analysts at Needham & Company LLC upgraded shares of Zimmer Holdings from a “buy” rating to a “strong-buy” rating in a research note on Wednesday. They now have a $122.00 price target on the stock. Separately, analysts at Cantor Fitzgerald upgraded shares of Zimmer Holdings to a “buy” rating in a research note on Tuesday, May 6th. They now have a $113.00 price target on the stock, up previously from $105.00. Finally, analysts at Argus raised their price target on shares of Zimmer Holdings from $110.00 to $116.00 in a research note on Tuesday, April 29th. They now have a “buy” rating on the stock. One analyst has rated the stock with a sell rating, three have assigned a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. Zimmer Holdings has an average rating of “Buy” and an average target price of $103.25.

Zimmer Holdings, Inc (NYSE:ZMH) designs, develops, manufactures and markets orthopaedic reconstructive, spinal and trauma devices, biologics, dental implants and related surgical products.

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