Zimmer Biomet Holdings Inc (ZBH) is Reiterated by Needham to Buy, Raises Price Target to $ 150

Zimmer Biomet Holdings Inc (ZBH) was Reiterated by Needham to “Buy” according to the research note released today. The brokerage firm has raised the Price Target to $ 150 from a previous price target of $143 . Needham advised their investors in a research report released on Jul 29, 2016.

Many Wall Street Analysts have commented on Zimmer Biomet Holdings Inc. Company shares were Reiterated by Needham on Jul 18, 2016 to “Buy”, Firm has raised the Price Target to $ 143 from a previous price target of $134 .Zimmer Biomet Holdings Inc was Initiated by Guggenheim to “Neutral” on Jun 9, 2016.

On the company’s financial health, Zimmer Biomet Holdings Inc reported $2.02 EPS for the quarter, beating the analyst consensus estimate by $ 0.05 according to the earnings call on Jul 28, 2016. Analyst had a consensus of $1.97. The company had revenue of $1934.00 million for the quarter, compared to analysts expectations of $1898.18 million. The company’s revenue was up 65.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.58 EPS.

Zimmer Biomet Holdings Inc opened for trading at $126.5 and hit $129.58 on the upside on Thursday, eventually ending the session at $127.47, with a gain of 3.90% or 4.79 points. The heightened volatility saw the trading volume jump to 26,35,215 shares. Company has a market cap of $25,397 M.

In a different news, on Jul 12, 2016, Daniel P Florin (Sr. VP, CFO) sold 15,000 shares at $124.98 per share price. According to the SEC, on Jun 16, 2016, Tony W. Collins (VP, Controller and CAO) sold 3,611 shares at $116.43 per share price. On Jun 10, 2016, Daniel E. Williamson (Group President) sold 10,000 shares at $119.77 per share price, according to the Form-4 filing with the securities and exchange commission.

Zimmer Biomet Holdings Inc. formerly Zimmer Holdings Inc. is a musculoskeletal healthcare company. The Company designs manufactures and markets orthopedic reconstructive products; sports medicine biologics extremities and trauma products; spine bone healing craniomaxillofacial and thoracic products; dental implants and related surgical products. The Company manages its operations through three geographic segments: the Americas comprising principally of the United States and includes other North Central and South American markets; Europe comprising 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 markets and sells products through three channels: direct to healthcare institutions such as hospitals or direct channel accounts; through stocking distributors and healthcare dealers and directly to dental practices and dental laboratories.

Zimmer Biomet Holdings Inc

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