Zimmer Biomet (ZBH) Upgraded to “Outperform” at Wells Fargo & Company

Zimmer Biomet (NYSE:ZBH) was upgraded by analysts at Wells Fargo & Company from a “market perform” rating to an “outperform” rating in a research note issued to investors on Tuesday, The Fly reports.

A number of other brokerages have also weighed in on ZBH. SunTrust Banks set a $136.00 price objective on Zimmer Biomet and gave the company a “buy” rating in a report on Wednesday, November 1st. Royal Bank of Canada decreased their price objective on Zimmer Biomet to $125.00 and set an “outperform” rating on the stock in a report on Tuesday, November 7th. Morgan Stanley decreased their price objective on Zimmer Biomet from $146.00 to $136.00 and set an “overweight” rating on the stock in a report on Thursday, November 2nd. BMO Capital Markets reduced their price target on Zimmer Biomet from $140.00 to $135.00 and set an “outperform” rating on the stock in a report on Thursday, November 2nd. Finally, Deutsche Bank upgraded Zimmer Biomet from a “hold” rating to a “buy” rating and set a $128.00 price target on the stock in a report on Tuesday, November 14th. Four analysts have rated the stock with a sell rating, six have given a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. Zimmer Biomet presently has an average rating of “Buy” and a consensus price target of $134.05.

Zimmer Biomet (NYSE ZBH) traded down $0.81 during trading on Tuesday, reaching $114.43. 1,465,500 shares of the company were exchanged, compared to its average volume of 1,365,884. Zimmer Biomet has a 1 year low of $100.87 and a 1 year high of $133.49. The firm has a market cap of $23,333.00, a PE ratio of 14.28, a P/E/G ratio of 1.79 and a beta of 1.15. The company has a quick ratio of 0.78, a current ratio of 1.47 and a debt-to-equity ratio of 0.88.

Zimmer Biomet (NYSE:ZBH) last released its quarterly earnings results on Wednesday, November 1st. The medical equipment provider reported $1.72 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.74 by ($0.02). Zimmer Biomet had a net margin of 8.36% and a return on equity of 16.29%. The company had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.83 billion. During the same period in the prior year, the business posted $1.79 EPS. Zimmer Biomet’s revenue was down .8% compared to the same quarter last year. sell-side analysts predict that Zimmer Biomet will post 8.03 EPS for the current fiscal year.

Several institutional investors have recently made changes to their positions in the company. BlackRock Inc. grew its position in shares of Zimmer Biomet by 4.1% during the second quarter. BlackRock Inc. now owns 17,419,463 shares of the medical equipment provider’s stock worth $2,236,657,000 after buying an additional 679,080 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Zimmer Biomet by 2.6% in the second quarter. Vanguard Group Inc. now owns 13,380,517 shares of the medical equipment provider’s stock valued at $1,718,057,000 after purchasing an additional 339,106 shares in the last quarter. Longview Partners Guernsey LTD boosted its holdings in Zimmer Biomet by 17.7% in the third quarter. Longview Partners Guernsey LTD now owns 7,506,684 shares of the medical equipment provider’s stock valued at $878,958,000 after purchasing an additional 1,128,973 shares in the last quarter. Nordea Investment Management AB boosted its holdings in Zimmer Biomet by 7.3% in the third quarter. Nordea Investment Management AB now owns 5,277,660 shares of the medical equipment provider’s stock valued at $617,961,000 after purchasing an additional 357,302 shares in the last quarter. Finally, Jana Partners LLC boosted its holdings in Zimmer Biomet by 16.6% in the third quarter. Jana Partners LLC now owns 4,662,497 shares of the medical equipment provider’s stock valued at $545,932,000 after purchasing an additional 662,497 shares in the last quarter. 85.92% of the stock is owned by institutional investors and hedge funds.

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Zimmer Biomet 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.