Zimmer Biomet Holdings, Inc. (NYSE:ZBH) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors 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 equities research analysts have also recently commented on ZBH. ValuEngine cut shares of Zimmer Biomet Holdings from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Citigroup Inc. increased their price target on shares of Zimmer Biomet Holdings from $108.00 to $130.00 and gave the stock a “neutral” rating in a report on Friday, June 9th. Royal Bank Of Canada increased their price target on shares of Zimmer Biomet Holdings from $133.00 to $140.00 and gave the stock an “outperform” rating in a report on Wednesday, June 21st. Cantor Fitzgerald initiated coverage on shares of Zimmer Biomet Holdings in a report on Thursday, June 29th. They set a “neutral” rating and a $137.00 price target for the company. Finally, Jefferies Group LLC reissued a “buy” rating and set a $148.00 price target on shares of Zimmer Biomet Holdings in a report on Friday, June 30th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. Zimmer Biomet Holdings currently has a consensus rating of “Hold” and a consensus price target of $136.58.

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

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In other news, VP Tony W. Collins sold 16,986 shares of the firm’s stock in a transaction on Monday, July 31st. The shares were sold at an average price of $121.74, for a total value of $2,067,875.64. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 1.07% of the company’s stock.

Several hedge funds have recently modified their holdings of the company. Enterprise Financial Services Corp raised its stake in shares of Zimmer Biomet Holdings by 0.3% in the 2nd quarter. Enterprise Financial Services Corp now owns 2,646 shares of the medical equipment provider’s stock valued at $340,000 after acquiring an additional 9 shares during the period. Sandy Spring Bank raised its stake in shares of Zimmer Biomet Holdings by 1.7% in the 1st quarter. Sandy Spring Bank now owns 1,222 shares of the medical equipment provider’s stock valued at $149,000 after acquiring an additional 20 shares during the period. Parkside Financial Bank & Trust raised its stake in shares of Zimmer Biomet Holdings by 2.7% in the 1st quarter. Parkside Financial Bank & Trust now owns 839 shares of the medical equipment provider’s stock valued at $102,000 after acquiring an additional 22 shares during the period. Cleararc Capital Inc. raised its stake in shares of Zimmer Biomet Holdings by 0.5% in the 1st quarter. Cleararc Capital Inc. now owns 4,897 shares of the medical equipment provider’s stock valued at $598,000 after acquiring an additional 25 shares during the period. Finally, CWA Asset Management Group LLC raised its stake in shares of Zimmer Biomet Holdings by 1.8% in the 2nd quarter. CWA Asset Management Group LLC now owns 1,952 shares of the medical equipment provider’s stock valued at $251,000 after acquiring an additional 34 shares during the period. 85.35% of the stock is currently owned by institutional investors and hedge funds.

About Zimmer Biomet Holdings

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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