Zimmer Biomet (NYSE:ZBH) Price Target Raised to $117.00

Zimmer Biomet (NYSE:ZBH) had its price target boosted by Truist Financial from $112.00 to $117.00 in a research report report published on Friday morning, Benzinga reports. They currently have a hold rating on the medical equipment provider’s stock.

A number of other analysts have also recently weighed in on the stock. Needham & Company LLC reissued a “hold” rating on shares of Zimmer Biomet in a report on Thursday. JPMorgan Chase & Co. dropped their price objective on shares of Zimmer Biomet from $125.00 to $120.00 and set a “neutral” rating on the stock in a research note on Monday, September 16th. UBS Group lowered their target price on Zimmer Biomet from $112.00 to $107.00 and set a “sell” rating for the company in a report on Thursday, August 8th. Morgan Stanley cut their price target on Zimmer Biomet from $130.00 to $120.00 and set an “equal weight” rating on the stock in a report on Monday, July 15th. Finally, Oppenheimer reduced their price objective on Zimmer Biomet from $145.00 to $135.00 and set an “outperform” rating for the company in a research report on Tuesday, October 15th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, Zimmer Biomet currently has a consensus rating of “Hold” and a consensus price target of $123.84.

Zimmer Biomet Stock Performance

Shares of ZBH stock opened at $107.27 on Friday. The stock has a market capitalization of $21.35 billion, a price-to-earnings ratio of 20.39, a PEG ratio of 1.96 and a beta of 1.02. Zimmer Biomet has a one year low of $101.47 and a one year high of $133.90. The company’s 50-day simple moving average is $106.96 and its 200-day simple moving average is $110.73. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.63 and a current ratio of 1.36.

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

Zimmer Biomet Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, September 30th were given a dividend of $0.24 per share. This represents a $0.96 annualized dividend 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 Trading of Zimmer Biomet

Several institutional investors have recently modified their holdings of ZBH. Crewe Advisors LLC bought a new stake in Zimmer Biomet in the first quarter worth about $31,000. Bangor Savings Bank bought a new position in shares of Zimmer Biomet during the 3rd quarter valued at about $31,000. Family Firm Inc. acquired a new position in shares of Zimmer Biomet in the 2nd quarter worth approximately $33,000. J.Safra Asset Management Corp raised its holdings in shares of Zimmer Biomet by 712.1% in the 1st quarter. J.Safra Asset Management Corp now owns 268 shares of the medical equipment provider’s stock worth $35,000 after purchasing an additional 235 shares in the last quarter. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new stake in Zimmer Biomet during the second quarter valued at approximately $43,000. 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.