Zimmer Biomet (NYSE:ZBH) Downgraded by Zacks Research to Strong Sell

Zimmer Biomet (NYSE:ZBH) was downgraded by stock analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

Several other research analysts have also recently issued reports on ZBH. Citigroup cut their price objective on Zimmer Biomet from $95.00 to $93.00 and set a “neutral” rating for the company in a research report on Thursday, May 28th. Weiss Ratings cut shares of Zimmer Biomet from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, July 20th. Barclays cut their price target on shares of Zimmer Biomet from $100.00 to $94.00 and set an “underweight” rating for the company in a report on Wednesday, April 29th. Leerink Partners began coverage on shares of Zimmer Biomet in a research note on Monday, April 13th. They issued a “hold” rating and a $101.00 price objective for the company. Finally, Wells Fargo & Company decreased their price objective on shares of Zimmer Biomet from $98.00 to $90.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 29th. Two analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, twelve have given a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat, Zimmer Biomet presently has a consensus rating of “Hold” and a consensus price target of $102.00.

Zimmer Biomet Price Performance

Shares of ZBH opened at $95.57 on Monday. The company has a current ratio of 1.73, a quick ratio of 0.95 and a debt-to-equity ratio of 0.50. The stock’s 50 day moving average is $88.23 and its two-hundred day moving average is $89.79. Zimmer Biomet has a twelve month low of $79.12 and a twelve month high of $108.29. The firm has a market capitalization of $18.49 billion, a PE ratio of 24.82, a P/E/G ratio of 2.71 and a beta of 0.46.

Zimmer Biomet (NYSE:ZBH) last issued its earnings results on Tuesday, April 28th. The medical equipment provider reported $2.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.86 by $0.23. The business had revenue of $2.09 billion during the quarter, compared to the consensus estimate of $2.07 billion. Zimmer Biomet had a return on equity of 13.24% and a net margin of 9.05%.The company’s revenue for the quarter was up 9.3% on a year-over-year basis. During the same period in the prior year, the business posted $1.81 EPS. Research analysts anticipate that Zimmer Biomet will post 8.48 earnings per share for the current year.

Insiders Place Their Bets

In other Zimmer Biomet news, insider Sang Yi sold 5,000 shares of the firm’s stock in a transaction dated Friday, May 29th. The shares were sold at an average price of $82.64, for a total transaction of $413,200.00. Following the completion of the transaction, the insider directly owned 27,251 shares in the company, valued at approximately $2,252,022.64. This trade represents a 15.50% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 1.28% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. DV Equities LLC acquired a new position in shares of Zimmer Biomet during the 4th quarter worth approximately $25,000. Monetary Solutions Ltd acquired a new stake in Zimmer Biomet during the 4th quarter valued at $30,000. Gen Wealth Partners Inc purchased a new position in Zimmer Biomet during the fourth quarter worth $31,000. Flagship Harbor Advisors LLC acquired a new position in shares of Zimmer Biomet in the fourth quarter worth $32,000. Finally, Elevation Wealth Partners LLC raised its holdings in shares of Zimmer Biomet by 145.9% in the second quarter. Elevation Wealth Partners LLC now owns 386 shares of the medical equipment provider’s stock worth $33,000 after acquiring an additional 229 shares during the last quarter. 88.89% of the stock is owned by hedge funds and other institutional investors.

Zimmer Biomet Company Profile

Zimmer Biomet (NYSE: ZBH) is a global medical device company focused on musculoskeletal healthcare. Headquartered in Warsaw, Indiana, the company designs, manufactures and markets a broad portfolio of products used to treat joint disorders, bone disorders and related conditions. Its customer base includes orthopaedic and dental surgeons, hospitals, ambulatory surgery centers and other healthcare providers that rely on implants, instruments and related services for reconstructive and restorative procedures.

The company’s product offerings span joint replacement systems for hips, knees and shoulders; trauma and extremities implants; spine and thoracic solutions; dental and craniomaxillofacial implants and prosthetics; and sports medicine devices.