Zimmer Biomet (NYSE:ZBH) Given New $104.00 Price Target at Evercore ISI

Zimmer Biomet (NYSE:ZBH) had its target price lowered by Evercore ISI from $106.00 to $104.00 in a research note released on Tuesday,Benzinga reports. The brokerage currently has an in-line rating on the medical equipment provider’s stock.

ZBH has been the subject of a number of other reports. Rothschild Redb upgraded shares of Zimmer Biomet to a “strong-buy” rating in a research report on Thursday, September 18th. Rothschild & Co Redburn began coverage on shares of Zimmer Biomet in a research report on Thursday, September 18th. They set a “buy” rating and a $130.00 price target for the company. Royal Bank Of Canada lifted their price target on shares of Zimmer Biomet from $112.00 to $115.00 and gave the company an “outperform” rating in a research report on Friday, August 8th. Stifel Nicolaus lifted their price target on shares of Zimmer Biomet from $115.00 to $118.00 and gave the company a “buy” rating in a research report on Friday, September 19th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Zimmer Biomet in a research report on Saturday, September 27th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $112.89.

Zimmer Biomet Trading Up 0.3%

NYSE ZBH opened at $99.12 on Tuesday. The stock has a market capitalization of $19.63 billion, a P/E ratio of 24.12, a P/E/G ratio of 2.27 and a beta of 0.67. Zimmer Biomet has a 52-week low of $89.22 and a 52-week high of $114.72. The firm has a 50-day moving average price of $101.01 and a 200 day moving average price of $98.54. The company has a quick ratio of 0.96, a current ratio of 1.87 and a debt-to-equity ratio of 0.54.

Zimmer Biomet (NYSE:ZBH) last posted its quarterly earnings results on Thursday, August 7th. The medical equipment provider reported $2.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.98 by $0.09. Zimmer Biomet had a net margin of 10.51% and a return on equity of 12.76%. The firm had revenue of $2.08 billion during the quarter, compared to analysts’ expectations of $2.06 billion. During the same period in the prior year, the company posted $2.01 earnings per share. The firm’s revenue for the quarter was up 7.0% on a year-over-year basis. Zimmer Biomet has set its FY 2025 guidance at 8.100-8.300 EPS. Equities research analysts expect that Zimmer Biomet will post 8.22 EPS for the current year.

Zimmer Biomet Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Tuesday, September 30th will be paid a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend is Tuesday, September 30th. Zimmer Biomet’s payout ratio is presently 23.36%.

Insider Buying and Selling

In other Zimmer Biomet news, SVP Lori Winkler sold 1,500 shares of Zimmer Biomet stock in a transaction that occurred on Monday, September 8th. The shares were sold at an average price of $104.15, for a total value of $156,225.00. Following the completion of the sale, the senior vice president directly owned 6,833 shares of the company’s stock, valued at approximately $711,656.95. The trade was a 18.00% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.70% of the company’s stock.

Hedge Funds Weigh In On Zimmer Biomet

A number of hedge funds have recently made changes to their positions in ZBH. Garde Capital Inc. acquired a new position in shares of Zimmer Biomet in the 1st quarter valued at $29,000. Washington Trust Advisors Inc. acquired a new position in shares of Zimmer Biomet in the 1st quarter valued at $30,000. Columbia River Financial Group LLC acquired a new position in shares of Zimmer Biomet in the 1st quarter valued at $30,000. Cary Street Partners Investment Advisory LLC boosted its holdings in shares of Zimmer Biomet by 83.7% in the 2nd quarter. Cary Street Partners Investment Advisory LLC now owns 327 shares of the medical equipment provider’s stock valued at $30,000 after purchasing an additional 149 shares during the last quarter. Finally, Accent Capital Management LLC acquired a new position in shares of Zimmer Biomet in the 1st quarter valued at $35,000. 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.