Zimmer Biomet (NYSE:ZBH) PT Lowered to $117.00

Zimmer Biomet (NYSE:ZBH) had its price target trimmed by Truist Financial from $130.00 to $117.00 in a report issued on Tuesday, Benzinga reports. The firm currently has a hold rating on the medical equipment provider’s stock.

A number of other analysts have also weighed in on the stock. The Goldman Sachs Group assumed coverage on shares of Zimmer Biomet in a report on Thursday, May 30th. They set a neutral rating and a $129.00 target price on the stock. Evercore ISI decreased their price target on shares of Zimmer Biomet from $130.00 to $115.00 and set an in-line rating on the stock in a report on Tuesday, July 2nd. Citigroup decreased their price target on shares of Zimmer Biomet from $134.00 to $120.00 and set a neutral rating on the stock in a report on Wednesday, July 10th. Needham & Company LLC reissued a hold rating on shares of Zimmer Biomet in a report on Thursday, May 30th. Finally, Barclays decreased their price target on shares of Zimmer Biomet from $130.00 to $125.00 and set an underweight rating on the stock in a report on Friday, May 31st. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of Hold and a consensus price target of $129.53.

Zimmer Biomet Stock Performance

Zimmer Biomet stock opened at $110.47 on Tuesday. The firm’s 50 day simple moving average is $111.42 and its 200 day simple moving average is $119.90. The company has a current ratio of 1.66, a quick ratio of 0.80 and a debt-to-equity ratio of 0.38. The firm has a market capitalization of $22.73 billion, a PE ratio of 23.91, a price-to-earnings-growth ratio of 2.00 and a beta of 1.01. Zimmer Biomet has a 1-year low of $102.00 and a 1-year high of $143.24.

Zimmer Biomet (NYSE:ZBH) last posted 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. The business had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.87 billion. Zimmer Biomet had a net margin of 12.93% and a return on equity of 12.70%. Zimmer Biomet’s revenue was up 3.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.89 EPS. As a group, analysts expect that Zimmer Biomet will post 8.1 earnings per share 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 paid a $0.24 dividend. The ex-dividend date is Wednesday, June 26th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.87%. Zimmer Biomet’s dividend payout ratio (DPR) is 20.78%.

Institutional Investors Weigh In On Zimmer Biomet

Institutional investors have recently made changes to their positions in the business. Price T Rowe Associates Inc. MD boosted its position in Zimmer Biomet by 12.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 10,642,801 shares of the medical equipment provider’s stock valued at $1,404,638,000 after buying an additional 1,215,935 shares during the period. Primecap Management Co. CA boosted its position in Zimmer Biomet by 10.5% during the 4th quarter. Primecap Management Co. CA now owns 5,086,578 shares of the medical equipment provider’s stock valued at $619,037,000 after buying an additional 484,151 shares during the period. Boston Partners boosted its position in Zimmer Biomet by 26.3% during the 1st quarter. Boston Partners now owns 3,314,939 shares of the medical equipment provider’s stock valued at $437,413,000 after buying an additional 691,191 shares during the period. Victory Capital Management Inc. boosted its position in Zimmer Biomet by 3.9% during the 4th quarter. Victory Capital Management Inc. now owns 3,199,302 shares of the medical equipment provider’s stock valued at $389,355,000 after buying an additional 118,839 shares during the period. Finally, Van ECK Associates Corp boosted its position in Zimmer Biomet by 11.3% during the 1st quarter. Van ECK Associates Corp now owns 3,158,560 shares of the medical equipment provider’s stock valued at $416,866,000 after buying an additional 320,002 shares during the period. Hedge funds and other institutional investors 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.