Wells Fargo & Company Issues Positive Forecast for Zimmer Biomet (NYSE:ZBH) Stock Price

Zimmer Biomet (NYSE:ZBH) had its price target raised by Wells Fargo & Company from $110.00 to $117.00 in a report issued on Thursday, Benzinga reports. They currently have an equal weight rating on the medical equipment provider’s stock.

A number of other research firms have also recently weighed in on ZBH. Wolfe Research assumed coverage on Zimmer Biomet in a report on Tuesday, September 10th. They issued a “peer perform” rating for the company. Canaccord Genuity Group reduced their target price on Zimmer Biomet from $120.00 to $115.00 and set a “hold” rating for the company in a research note on Tuesday, September 10th. Citigroup dropped their price target on shares of Zimmer Biomet from $134.00 to $120.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 10th. Morgan Stanley reduced their price objective on shares of Zimmer Biomet from $130.00 to $120.00 and set an “equal weight” rating for the company in a research report on Monday, July 15th. Finally, Royal Bank of Canada dropped their target price on shares of Zimmer Biomet from $130.00 to $120.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 8th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $123.84.

Zimmer Biomet Price Performance

NYSE:ZBH opened at $107.27 on Thursday. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.36 and a quick ratio of 0.63. The company has a 50 day moving average price of $106.96 and a 200-day moving average price of $110.73. Zimmer Biomet has a 1-year low of $101.47 and a 1-year high of $133.90. The firm has a market cap of $21.35 billion, a price-to-earnings ratio of 20.39, a price-to-earnings-growth ratio of 1.96 and a beta of 1.02.

Zimmer Biomet (NYSE:ZBH) last released its quarterly earnings results on Wednesday, October 30th. The medical equipment provider reported $1.74 EPS for the quarter, meeting the consensus estimate of $1.74. The company had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.80 billion. Zimmer Biomet had a net margin of 14.27% and a return on equity of 12.95%. The firm’s revenue was up 4.1% on a year-over-year basis. During the same quarter last year, the business earned $1.65 earnings per share. Equities research analysts forecast that Zimmer Biomet will post 7.99 EPS for the current year.

Zimmer Biomet Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, September 30th were paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.89%. The ex-dividend date of this dividend was Monday, September 30th. Zimmer Biomet’s dividend payout ratio (DPR) is presently 18.25%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Covestor Ltd raised its stake in Zimmer Biomet by 36.3% during the third quarter. Covestor Ltd now owns 1,088 shares of the medical equipment provider’s stock worth $117,000 after purchasing an additional 290 shares during the period. Mesirow Financial Investment Management Inc. increased its holdings in shares of Zimmer Biomet by 95.2% during the 3rd quarter. Mesirow Financial Investment Management Inc. now owns 5,254 shares of the medical equipment provider’s stock worth $567,000 after buying an additional 2,563 shares during the last quarter. Atria Investments Inc raised its position in shares of Zimmer Biomet by 60.2% during the 3rd quarter. Atria Investments Inc now owns 5,429 shares of the medical equipment provider’s stock valued at $586,000 after buying an additional 2,041 shares during the period. Rovin Capital UT ADV lifted its holdings in Zimmer Biomet by 19.1% in the third quarter. Rovin Capital UT ADV now owns 6,426 shares of the medical equipment provider’s stock valued at $694,000 after acquiring an additional 1,029 shares during the last quarter. Finally, Philip James Wealth Mangement LLC purchased a new position in Zimmer Biomet in the third quarter worth approximately $305,000. Institutional investors and hedge funds own 88.89% of the company’s stock.

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.