Needham & Company LLC Reiterates “Hold” Rating for Zimmer Biomet (NYSE:ZBH)

Needham & Company LLC restated their hold rating on shares of Zimmer Biomet (NYSE:ZBH) in a research report sent to investors on Thursday, Benzinga reports.

Other equities research analysts also recently issued research reports about the company. TheStreet upgraded Zimmer Biomet from a c rating to a b- rating in a research report on Thursday, February 8th. JPMorgan Chase & Co. increased their price objective on Zimmer Biomet from $115.00 to $125.00 and gave the company a neutral rating in a research report on Friday, February 9th. Raymond James increased their price objective on Zimmer Biomet from $133.00 to $137.00 and gave the company an outperform rating in a research report on Wednesday, January 3rd. Truist Financial increased their price objective on Zimmer Biomet from $133.00 to $135.00 and gave the company a hold rating in a research report on Friday, February 9th. Finally, Canaccord Genuity Group restated a hold rating and issued a $130.00 target price on shares of Zimmer Biomet in a report on Friday, February 23rd. One research analyst has rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of Hold and a consensus target price of $135.40.

Zimmer Biomet Stock Performance

ZBH opened at $121.66 on Thursday. The company has a market capitalization of $25.00 billion, a price-to-earnings ratio of 26.33, a price-to-earnings-growth ratio of 2.17 and a beta of 1.03. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.66 and a quick ratio of 0.78. Zimmer Biomet has a 1-year low of $102.00 and a 1-year high of $147.50. The business has a 50 day moving average price of $125.30 and a two-hundred day moving average price of $120.02.

Zimmer Biomet (NYSE:ZBH) last released its earnings results on Thursday, May 2nd. The medical equipment provider reported $1.94 earnings per share for the quarter, topping analysts’ consensus estimates of $1.87 by $0.07. Zimmer Biomet had a return on equity of 12.70% and a net margin of 12.93%. The firm had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.87 billion. During the same period in the prior year, the firm posted $1.89 earnings per share. The firm’s revenue for the quarter was up 3.2% compared to the same quarter last year. Research analysts predict that Zimmer Biomet will post 8.08 EPS for the current fiscal year.

Zimmer Biomet Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 30th. Stockholders of record on Friday, March 29th were paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.79%. The ex-dividend date was Wednesday, March 27th. Zimmer Biomet’s dividend payout ratio (DPR) is presently 20.78%.

Insider Transactions at Zimmer Biomet

In other news, VP Chad F. Phipps sold 26,156 shares of the company’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $128.62, for a total value of $3,364,184.72. Following the transaction, the vice president now directly owns 44,145 shares of the company’s stock, valued at $5,677,929.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.95% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Zimmer Biomet

Several hedge funds have recently bought and sold shares of ZBH. Commonwealth Equity Services LLC increased its position in Zimmer Biomet by 0.5% during the third quarter. Commonwealth Equity Services LLC now owns 67,751 shares of the medical equipment provider’s stock worth $7,603,000 after buying an additional 324 shares during the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund increased its position in Zimmer Biomet by 5.7% during the third quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 40,516 shares of the medical equipment provider’s stock worth $4,547,000 after buying an additional 2,200 shares during the last quarter. SVB Wealth LLC increased its position in Zimmer Biomet by 5.2% during the third quarter. SVB Wealth LLC now owns 10,146 shares of the medical equipment provider’s stock worth $1,139,000 after buying an additional 498 shares during the last quarter. Xponance Inc. increased its position in Zimmer Biomet by 2.6% during the third quarter. Xponance Inc. now owns 26,749 shares of the medical equipment provider’s stock worth $3,002,000 after buying an additional 677 shares during the last quarter. Finally, Pinnacle Associates Ltd. increased its position in Zimmer Biomet by 5.0% during the third quarter. Pinnacle Associates Ltd. now owns 2,020 shares of the medical equipment provider’s stock worth $227,000 after buying an additional 97 shares during the last quarter. 88.89% of the stock is owned by institutional investors and hedge funds.

About Zimmer Biomet

Zimmer Biomet Holdings, Inc, together with its subsidiaries, operates as a medical technology company worldwide. The company designs, manufactures, and markets orthopedic 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.