Zimmer Biomet’s (ZBH) “Hold” Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC restated their hold rating on shares of Zimmer Biomet (NYSE:ZBHFree Report) in a research note published on Thursday, Benzinga reports.

ZBH has been the subject of several other reports. Evercore ISI lifted their target price on shares of Zimmer Biomet from $125.00 to $130.00 and gave the company an in-line rating in a report on Thursday, April 4th. Truist Financial decreased their price objective on shares of Zimmer Biomet from $137.00 to $130.00 and set a hold rating for the company in a report on Friday, May 3rd. Citigroup boosted their price objective on shares of Zimmer Biomet from $134.00 to $140.00 and gave the stock a neutral rating in a report on Wednesday, April 3rd. The Goldman Sachs Group began coverage on shares of Zimmer Biomet in a report on Thursday. They issued a neutral rating and a $129.00 price objective for the company. Finally, Royal Bank of Canada restated an outperform rating and issued a $140.00 price objective on shares of Zimmer Biomet in a report on Friday, February 9th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of Hold and an average target price of $134.06.

View Our Latest Stock Analysis on ZBH

Zimmer Biomet Price Performance

ZBH stock opened at $114.43 on Thursday. The firm has a 50 day moving average price of $122.57 and a 200-day moving average price of $121.80. Zimmer Biomet has a 52-week low of $102.00 and a 52-week high of $147.50. The firm has a market capitalization of $23.54 billion, a price-to-earnings ratio of 24.77, a PEG ratio of 2.08 and a beta of 1.03. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.80 and a current ratio of 1.66.

Zimmer Biomet (NYSE:ZBHGet Free Report) last released its earnings results on Thursday, May 2nd. The medical equipment provider reported $1.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.87 by $0.07. Zimmer Biomet had a net margin of 12.93% and a return on equity of 12.70%. The firm had revenue of $1.89 billion during the quarter, compared to analyst estimates of $1.87 billion. During the same period last year, the business earned $1.89 earnings per share. The business’s revenue was up 3.2% on a year-over-year basis. Equities research analysts forecast that Zimmer Biomet will post 8.1 EPS for the current fiscal year.

Zimmer Biomet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Wednesday, June 26th will be given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.84%. The ex-dividend date is Wednesday, June 26th. Zimmer Biomet’s payout ratio is 20.78%.

Institutional Investors Weigh In On Zimmer Biomet

A number of hedge funds have recently modified their holdings of ZBH. Norges Bank purchased a new position in shares of Zimmer Biomet during the 4th quarter valued at $266,896,000. Price T Rowe Associates Inc. MD lifted its stake in Zimmer Biomet by 12.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 10,642,801 shares of the medical equipment provider’s stock worth $1,404,638,000 after purchasing an additional 1,215,935 shares in the last quarter. American Century Companies Inc. lifted its stake in Zimmer Biomet by 21.2% in the 3rd quarter. American Century Companies Inc. now owns 4,863,741 shares of the medical equipment provider’s stock worth $545,809,000 after purchasing an additional 852,186 shares in the last quarter. Boston Partners lifted its stake in Zimmer Biomet by 26.3% in the 1st quarter. Boston Partners now owns 3,314,939 shares of the medical equipment provider’s stock worth $437,413,000 after purchasing an additional 691,191 shares in the last quarter. Finally, Van ECK Associates Corp lifted its stake in Zimmer Biomet by 23.7% in the 4th quarter. Van ECK Associates Corp now owns 2,838,558 shares of the medical equipment provider’s stock worth $345,452,000 after purchasing an additional 543,344 shares in the last quarter. Institutional investors own 88.89% of the company’s stock.

Zimmer Biomet Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Zimmer Biomet (NYSE:ZBH)

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