Zimmer Biomet Holdings, Inc. (NYSE:ZBH) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Tuesday.

According to Zacks, “Zimmer Biomet has been lagging the broader industry with respect to share price movement over the last three months. Zimmer Biomet ended the second quarter on a mixed note. While earnings topped the estimate, revenues remained in line with the same. We are disappointed by the company's declining sales performance within several of its core segments. Moreover, the market seems to be apprehensive about the departure of Zimmer’s decade old CEO David C. Dvorak. The trimmed 2017 guidance adds to our concerns indicating little chances of recovery ahead. Nevertheless, improved gross and operating margin performance was encouraging. We look forward to the expected synergy from the LDR Holding acquisition, which should broaden and complement the company's musculoskeletal offering. We are also impressed by the strong strategic and financial goals which the combined entity expects to reach, now that the deal has been closed.”

A number of other research analysts have also recently commented on ZBH. Oppenheimer Holdings, Inc. set a $137.00 target price on Zimmer Biomet Holdings and gave the company a “buy” rating in a research note on Monday, August 14th. BidaskClub cut Zimmer Biomet Holdings from a “hold” rating to a “sell” rating in a research note on Tuesday, August 1st. Canaccord Genuity reiterated a “buy” rating and set a $141.00 price objective on shares of Zimmer Biomet Holdings in a research note on Friday, July 14th. BMO Capital Markets lifted their price objective on Zimmer Biomet Holdings from $136.00 to $140.00 and gave the company an “outperform” rating in a research note on Friday, July 28th. Finally, Gabelli initiated coverage on Zimmer Biomet Holdings in a research note on Thursday, August 24th. They set a “buy” rating and a $142.00 price objective for the company. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $136.58.

Zimmer Biomet Holdings (NYSE:ZBH) last released its earnings results on Thursday, July 27th. The medical equipment provider reported $2.08 EPS for the quarter, missing the Zacks’ consensus estimate of $2.10 by ($0.02). The firm had revenue of $1.95 billion during the quarter, compared to analysts’ expectations of $1.95 billion. Zimmer Biomet Holdings had a net margin of 9.12% and a return on equity of 16.70%. The company’s revenue for the quarter was up 1.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.02 EPS.

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In related news, VP Tony W. Collins sold 16,986 shares of Zimmer Biomet Holdings stock in a transaction on Monday, July 31st. The stock was sold at an average price of $121.74, for a total value of $2,067,875.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.07% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of ZBH. Parkside Financial Bank & Trust grew its holdings in shares of Zimmer Biomet Holdings by 2.7% in the first quarter. Parkside Financial Bank & Trust now owns 839 shares of the medical equipment provider’s stock worth $102,000 after acquiring an additional 22 shares during the period. Bronfman E.L. Rothschild L.P. grew its holdings in shares of Zimmer Biomet Holdings by 25.3% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 827 shares of the medical equipment provider’s stock worth $106,000 after acquiring an additional 167 shares during the period. Parallel Advisors LLC grew its holdings in shares of Zimmer Biomet Holdings by 20.8% in the first quarter. Parallel Advisors LLC now owns 1,157 shares of the medical equipment provider’s stock worth $138,000 after acquiring an additional 199 shares during the period. IHT Wealth Management LLC grew its holdings in shares of Zimmer Biomet Holdings by 28.4% in the first quarter. IHT Wealth Management LLC now owns 1,158 shares of the medical equipment provider’s stock worth $139,000 after acquiring an additional 256 shares during the period. Finally, BB&T Investment Services Inc. bought a new stake in shares of Zimmer Biomet Holdings in the second quarter worth $144,000. 85.35% of the stock is owned by institutional investors.

Zimmer Biomet Holdings Company Profile

Zimmer Biomet Holdings, Inc is engaged in designing, manufacturing and marketing of orthopedic reconstructive products; sports medicine, biologics, extremities and trauma products; office-based technologies; spine, craniomaxillofacial and thoracic products; dental implants, and related surgical products.

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Analyst Recommendations for Zimmer Biomet Holdings (NYSE:ZBH)

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