Zimmer Biomet (NYSE:ZBH) Given New $133.00 Price Target at Raymond James

Zimmer Biomet (NYSE:ZBH) had its price objective lowered by Raymond James from $160.00 to $133.00 in a report issued on Thursday morning, Benzinga reports. The firm currently has an outperform rating on the medical equipment provider’s stock.

Several other brokerages have also weighed in on ZBH. Barclays increased their target price on Zimmer Biomet from $116.00 to $120.00 and gave the stock an underweight rating in a research report on Wednesday, August 2nd. UBS Group increased their target price on Zimmer Biomet from $116.00 to $125.00 in a research report on Wednesday, August 2nd. BTIG Research raised Zimmer Biomet from a neutral rating to a buy rating and set a $139.00 price target on the stock in a report on Monday, August 28th. Citigroup lowered their price target on Zimmer Biomet from $146.00 to $125.00 and set a neutral rating on the stock in a report on Monday, October 2nd. Finally, JPMorgan Chase & Co. lowered their price target on Zimmer Biomet from $146.00 to $115.00 and set a neutral rating on the stock in a report on Wednesday, November 8th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of Hold and a consensus price target of $140.05.

Zimmer Biomet Trading Up 1.2 %

NYSE:ZBH opened at $105.42 on Thursday. Zimmer Biomet has a 12-month low of $102.00 and a 12-month high of $149.25. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.11 and a quick ratio of 0.95. The business has a 50 day simple moving average of $111.36 and a 200 day simple moving average of $125.97. The firm has a market capitalization of $22.03 billion, a P/E ratio of 46.65, a P/E/G ratio of 2.11 and a beta of 1.02.

Zimmer Biomet (NYSE:ZBH) last issued its earnings results on Tuesday, November 7th. The medical equipment provider reported $1.65 earnings per share for the quarter, topping the consensus estimate of $1.59 by $0.06. Zimmer Biomet had a return on equity of 12.41% and a net margin of 6.52%. The firm had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.75 billion. During the same period last year, the company earned $1.58 earnings per share. The firm’s revenue for the quarter was up 5.0% on a year-over-year basis. Equities research analysts predict that Zimmer Biomet will post 7.51 EPS for the current year.

Zimmer Biomet Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 31st. Investors of record on Friday, September 29th were given a $0.24 dividend. The ex-dividend date was Thursday, September 28th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.91%. Zimmer Biomet’s dividend payout ratio (DPR) is 42.48%.

Insider Activity at Zimmer Biomet

In related news, Director Sreelakshmi Kolli purchased 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 30th. The stock was acquired at an average price of $120.37 per share, for a total transaction of $120,370.00. Following the transaction, the director now directly owns 1,000 shares of the company’s stock, valued at approximately $120,370. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Zimmer Biomet news, Director Sreelakshmi Kolli acquired 1,000 shares of the firm’s stock in a transaction on Wednesday, August 30th. The stock was purchased at an average cost of $120.37 per share, for a total transaction of $120,370.00. Following the transaction, the director now owns 1,000 shares of the company’s stock, valued at approximately $120,370. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Robert Hagemann acquired 2,000 shares of the firm’s stock in a transaction on Monday, August 28th. The shares were acquired at an average price of $116.48 per share, with a total value of $232,960.00. Following the completion of the transaction, the director now directly owns 4,000 shares in the company, valued at approximately $465,920. The disclosure for this purchase can be found here. Insiders purchased 5,300 shares of company stock worth $619,090 in the last quarter. 0.95% of the stock is owned by company insiders.

Institutional Investors Weigh In On Zimmer Biomet

A number of institutional investors have recently bought and sold shares of ZBH. Vanguard Group Inc. raised its stake in shares of Zimmer Biomet by 19.0% during the 1st quarter. Vanguard Group Inc. now owns 23,102,761 shares of the medical equipment provider’s stock worth $2,954,843,000 after purchasing an additional 3,695,510 shares in the last quarter. Moneta Group Investment Advisors LLC raised its stake in shares of Zimmer Biomet by 92,041.0% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 1,841,898 shares of the medical equipment provider’s stock worth $234,842,000 after purchasing an additional 1,839,899 shares in the last quarter. Norges Bank purchased a new stake in shares of Zimmer Biomet during the 4th quarter worth about $231,471,000. Victory Capital Management Inc. raised its stake in shares of Zimmer Biomet by 111.1% during the 1st quarter. Victory Capital Management Inc. now owns 2,941,983 shares of the medical equipment provider’s stock worth $380,104,000 after purchasing an additional 1,548,020 shares in the last quarter. Finally, Morgan Stanley raised its stake in shares of Zimmer Biomet by 80.5% during the 4th quarter. Morgan Stanley now owns 3,102,429 shares of the medical equipment provider’s stock worth $395,560,000 after purchasing an additional 1,384,068 shares in the last quarter. 87.48% of the stock is currently owned by institutional investors and hedge funds.

About Zimmer Biomet

Zimmer Biomet Holdings, Inc, together with its subsidiaries, operates as a medical technology company in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company designs, manufactures, and markets orthopaedic reconstructive products, such as knee and hip products; S.E.T. products, including sports medicine, biologics, foot and ankle, extremities, and trauma products; craniomaxillofacial and thoracic products comprising face and skull reconstruction products, as well as products that fixate and stabilize the bones of the chest to facilitate healing or reconstruction after open heart surgery, trauma, or for deformities of the chest.