Research analysts at Gabelli assumed coverage on shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) in a research note issued to investors on Thursday. The brokerage set a “buy” rating and a $142.00 price target on the medical equipment provider’s stock. Gabelli’s target price suggests a potential upside of 25.45% from the company’s previous close. Gabelli also issued estimates for Zimmer Biomet Holdings’ FY2019 earnings at $9.75 EPS and FY2020 earnings at $10.65 EPS.

ZBH has been the topic of several other reports. Goldman Sachs Group, Inc. (The) started coverage on shares of Zimmer Biomet Holdings in a research report on Tuesday, May 16th. They set a “sell” rating and a $92.00 price objective on the stock. Zacks Investment Research downgraded shares of Zimmer Biomet Holdings from a “hold” rating to a “strong sell” rating in a research report on Tuesday, August 8th. Canaccord Genuity restated a “buy” rating on shares of Zimmer Biomet Holdings in a research report on Friday, April 28th. Wells Fargo & Company downgraded shares of Zimmer Biomet Holdings from an “outperform” rating to a “market perform” rating in a research report on Friday, April 28th. Finally, Morgan Stanley raised their price objective on shares of Zimmer Biomet Holdings from $137.00 to $150.00 and gave the company an “overweight” rating in a research report on Monday, July 17th. Four analysts have rated the stock with a sell rating, seven have issued a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Zimmer Biomet Holdings presently has an average rating of “Hold” and a consensus price target of $136.75.

Shares of Zimmer Biomet Holdings (ZBH) opened at 113.19 on Thursday. The firm has a 50 day moving average price of $120.75 and a 200-day moving average price of $120.97. Zimmer Biomet Holdings has a one year low of $95.63 and a one year high of $133.49. The firm has a market cap of $22.89 billion, a P/E ratio of 32.24 and a beta of 1.20.

Zimmer Biomet Holdings (NYSE:ZBH) last released its quarterly earnings results on Thursday, July 27th. The medical equipment provider reported $2.08 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $2.10 by $0.02. Zimmer Biomet Holdings had a return on equity of 16.70% and a net margin of 9.12%. The business had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $1.95 billion. During the same quarter in the previous year, the business posted $2.02 earnings per share. The firm’s revenue was up 1.1% on a year-over-year basis. Analysts forecast that Zimmer Biomet Holdings will post $8.24 earnings per share for the current year.

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In other Zimmer Biomet Holdings news, insider Sang Yi sold 17,731 shares of Zimmer Biomet Holdings stock in a transaction on Monday, June 12th. The shares were sold at an average price of $124.56, for a total value of $2,208,573.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 transaction of $2,067,875.64. The disclosure for this sale can be found here. Company insiders own 1.07% of the company’s stock.

Several institutional investors have recently modified their holdings of the company. BlackRock Inc. boosted its position in Zimmer Biomet Holdings by 4.1% in 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 position in Zimmer Biomet Holdings by 2.6% in the second quarter. Vanguard Group Inc. now owns 13,380,517 shares of the medical equipment provider’s stock worth $1,718,057,000 after buying an additional 339,106 shares in the last quarter. State Street Corp boosted its position in Zimmer Biomet Holdings by 2.4% in the first quarter. State Street Corp now owns 8,193,165 shares of the medical equipment provider’s stock worth $1,000,463,000 after buying an additional 191,747 shares in the last quarter. Longview Partners Guernsey LTD boosted its position in Zimmer Biomet Holdings by 4.4% in the second quarter. Longview Partners Guernsey LTD now owns 6,377,711 shares of the medical equipment provider’s stock worth $818,898,000 after buying an additional 269,184 shares in the last quarter. Finally, Nordea Investment Management AB boosted its position in Zimmer Biomet Holdings by 25.0% in the first quarter. Nordea Investment Management AB now owns 4,931,281 shares of the medical equipment provider’s stock worth $602,159,000 after buying an additional 987,398 shares in the last quarter. 82.84% of the stock is owned by institutional investors and hedge funds.

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.

Analyst Recommendations for Zimmer Biomet Holdings (NYSE:ZBH)

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