Canaccord Genuity restated their hold rating on shares of Zimmer Biomet (NYSE:ZBH) in a research report sent to investors on Tuesday morning. Canaccord Genuity currently has a $125.00 price objective on the medical equipment provider’s stock.

“We maintain our HOLD rating following the announcement that Zimmer has named Bryan Hanson, former EVP and President of Medtronic’s Minimally Invasive Therapies Group, as CEO effective immediately. The announcement ends the five-month search for a new leader after former CEO David Dvorak resigned early in the Q3/17. Additionally, interim CEO Dan Florin will remain with the company as CFO. We view the hire positively as it removes the near-term overhang of management uncertainty and adds a seasoned medtech veteran to the management team and board. Additionally, we expect the new CEO to be well received by investors given our recent diligence suggested Mr. Hanson was at the top of investors’ short list of potential candidates.”,” Canaccord Genuity’s analyst wrote.

ZBH has been the subject of a number of other reports. Royal Bank of Canada lowered their price target on Zimmer Biomet to $125.00 and set an outperform rating for the company in a report on Tuesday, November 7th. Zacks Investment Research cut Zimmer Biomet from a hold rating to a sell rating in a report on Monday, November 6th. BMO Capital Markets lowered their target price on Zimmer Biomet from $140.00 to $135.00 and set an outperform rating for the company in a report on Thursday, November 2nd. Jefferies Group restated a buy rating and set a $136.00 target price on shares of Zimmer Biomet in a report on Friday, November 3rd. Finally, Deutsche Bank upgraded Zimmer Biomet from a hold rating to a buy rating and set a $128.00 target price for the company in a report on Tuesday, November 14th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus price target of $133.57.

Shares of Zimmer Biomet (ZBH) opened at $121.38 on Tuesday. Zimmer Biomet has a 52 week low of $100.87 and a 52 week high of $133.49. The stock has a market capitalization of $23,169.00, a price-to-earnings ratio of 14.18, a price-to-earnings-growth ratio of 1.78 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 for the quarter, missing analysts’ consensus estimates of $1.74 by ($0.02). The business had revenue of $1.82 billion for the quarter, compared to analysts’ expectations of $1.83 billion. Zimmer Biomet had a return on equity of 16.29% and a net margin of 8.36%. The business’s revenue for the quarter was down .8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.79 earnings per share. sell-side analysts anticipate that Zimmer Biomet will post 8.03 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 29th. Stockholders of record on Friday, December 29th will be given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 0.79%. The ex-dividend date of this dividend is Thursday, December 28th. Zimmer Biomet’s dividend payout ratio (DPR) is presently 30.19%.

Hedge funds and other institutional investors have recently modified their holdings of the company. CWA Asset Management Group LLC increased its position in Zimmer Biomet by 1.8% during the second quarter. CWA Asset Management Group LLC now owns 1,952 shares of the medical equipment provider’s stock worth $251,000 after buying an additional 34 shares during the period. Advisory Services Network LLC increased its position in Zimmer Biomet by 1.0% during the second quarter. Advisory Services Network LLC now owns 3,690 shares of the medical equipment provider’s stock worth $474,000 after buying an additional 37 shares during the period. Armor Investment Advisors LLC increased its position in Zimmer Biomet by 2.0% during the second quarter. Armor Investment Advisors LLC now owns 2,600 shares of the medical equipment provider’s stock worth $334,000 after buying an additional 50 shares during the period. Geneva Advisors LLC increased its position in Zimmer Biomet by 2.7% during the second quarter. Geneva Advisors LLC now owns 2,107 shares of the medical equipment provider’s stock worth $271,000 after buying an additional 55 shares during the period. Finally, Sandy Spring Bank increased its position in Zimmer Biomet by 5.4% during the second quarter. Sandy Spring Bank now owns 1,288 shares of the medical equipment provider’s stock worth $166,000 after buying an additional 66 shares during the period. 85.92% of the stock is currently owned by institutional investors and hedge funds.

COPYRIGHT VIOLATION WARNING: “Zimmer Biomet’s (ZBH) “Hold” Rating Reaffirmed at Canaccord Genuity” was posted by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are accessing this article on another site, it was stolen and reposted in violation of US and international copyright and trademark legislation. The legal version of this article can be read at https://www.thecerbatgem.com/2017/12/20/zimmer-biomets-zbh-hold-rating-reaffirmed-at-canaccord-genuity.html.

About Zimmer Biomet

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 (NYSE:ZBH)

Receive News & Ratings for Zimmer Biomet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Zimmer Biomet and related companies with MarketBeat.com's FREE daily email newsletter.