Rating Action: Citigroup Gives Zimmer Biomet Holdings (NYSE:ZBH) Higher Rating. Lost Its Sell Rating

November 29, 2016 - By Louis Casey

Rating Action:  Citigroup Gives Zimmer Biomet Holdings (NYSE:ZBH) Higher Rating. Lost Its Sell Rating

Zimmer Biomet Holdings (NYSE:ZBH) Upgrade

In a a research report issued to clients on Tuesday morning, Citigroup increased shares of Zimmer Biomet Holdings (NYSE:ZBH) to a Neutral rating from Sell rating.

Zimmer Biomet Holdings Inc (NYSE:ZBH) Ratings Coverage

Out of 16 analysts covering Zimmer Biomet Holdings (NYSE:ZBH), 12 rate it a “Buy”, 1 “Sell”, while 3 “Hold”. This means 75% are positive. $155 is the highest target while $105 is the lowest. The $130.57 average target is 26.25% above today’s ($103.42) stock price. Zimmer Biomet Holdings has been the topic of 24 analyst reports since August 27, 2015 according to StockzIntelligence Inc. The rating was initiated by Guggenheim with “Neutral” on Thursday, June 9. The firm has “Overweight” rating given on Friday, April 29 by Barclays Capital. The company was initiated on Wednesday, November 4 by Sterne Agee CRT. Suntrust Robinson initiated Zimmer Biomet Holdings Inc (NYSE:ZBH) on Thursday, August 11 with “Buy” rating. As per Tuesday, August 23, the company rating was maintained by Barclays Capital. The rating was downgraded by Zacks to “Buy” on Friday, August 28. The firm earned “Buy” rating on Friday, July 29 by Needham. UBS maintained Zimmer Biomet Holdings Inc (NYSE:ZBH) rating on Tuesday, August 2. UBS has “Neutral” rating and $132 price target. The rating was initiated by Nomura with “Buy” on Thursday, March 17. The firm has “Sell” rating by Citigroup given on Thursday, November 12.

The stock increased 1.41% or $1.44 on November 29, hitting $103.42. About 1.81M shares traded hands. Zimmer Biomet Holdings Inc (NYSE:ZBH) has declined 11.48% since April 26, 2016 and is downtrending. It has underperformed by 16.74% the S&P500.

Analysts await Zimmer Biomet Holdings Inc (NYSE:ZBH) to report earnings on January, 26. They expect $2.11 earnings per share, up 0.96% or $0.02 from last year’s $2.09 per share. ZBH’s profit will be $421.10 million for 12.25 P/E if the $2.11 EPS becomes a reality. After $1.79 actual earnings per share reported by Zimmer Biomet Holdings Inc for the previous quarter, Wall Street now forecasts 17.88% EPS growth.

Zimmer Biomet Holdings, Inc., formerly Zimmer Holdings, Inc., is engaged designing, manufacturing and marketing orthopaedic reconstructive products; sports medicine, biologics, extremities and trauma products; spine, bone healing, craniomaxillofacial and thoracic products; dental implants, and related surgical products. The company has a market cap of $20.64 billion. The Company’s products and solutions helps treat patients suffering from disorders of, or injuries to, bones, joints, or supporting soft tissues. It has a 57.88 P/E ratio. The Firm manages its activities through three geographic operating divisions: the Americas, consists of the United States and includes other North, Central and South American markets; EMEA, consists of Europe and includes the Middle East and African markets, and Asia Pacific, consists of Japan and includes other Asian and Pacific markets.

According to Zacks Investment Research, “Zimmer Biomet Holdings, Inc. is a musculoskeletal healthcare company. The company design, manufacture and market orthopaedic reconstructive products; sports medicine, biologics, extremities and trauma products; spine, bone healing, craniomaxillofacial and thoracic products; dental implants; and related surgical products. Zimmer Biomet Holdings, Inc., formerly known as Zimmer Holdings, Inc., is based in Warsaw, United States.”

ZBH Company Profile

Zimmer Biomet Holdings, Inc., formerly Zimmer Holdings, Inc., incorporated on January 12, 2001, is engaged in designing, manufacturing and marketing orthopaedic reconstructive products; sports medicine, biologics, extremities and trauma (S.E.T.) products; spine, bone healing, craniomaxillofacial and thoracic products; dental implants, and related surgical products. The Company’s products and solutions helps treat patients suffering from disorders of, or injuries to, bones, joints, or supporting soft tissues. The Firm manages its activities through three geographic operating divisions: the Americas, comprising principally of the United States and includes other North, Central and South American markets; EMEA, comprising of principally of Europe and includes the Middle East and African markets, and Asia Pacific, comprising primarily of Japan and includes other Asian and Pacific markets. The Company’s four product category divisions include Americas Spine, Bone Healing Craniomaxillofacial and Thoracic (CMF) and Dental.

More notable recent Zimmer Biomet Holdings Inc (NYSE:ZBH) news were published by: Wsj.com which released: “Zimmer Biomet Cuts Forecasts” on October 31, 2016, also Forbes.com with their article: “Zimmer Biomet Holdings Becomes Oversold (ZBH)” published on November 22, 2016, Reuters.com published: “BRIEF-Seikagaku signs exclusive distribution agreement with Zimmer Biomet …” on November 08, 2016. More interesting news about Zimmer Biomet Holdings Inc (NYSE:ZBH) were released by: Prnewswire.com and their article: “ZIMMER BIOMET (ZBH) Alert: Shareholder Rights Law Firm Johnson & Weaver, LLP …” published on November 02, 2016 as well as Prnewswire.com‘s news article titled: “SHAREHOLDER ALERT: Bronstein, Gewirtz & Grossman, LLC Announces Investigation …” with publication date: November 01, 2016.

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