Zimmer Biomet (NYSE:ZBH) PT Lowered to $107.00 at UBS Group

Zimmer Biomet (NYSE:ZBH) had its price target trimmed by UBS Group from $112.00 to $107.00 in a research note released on Thursday, Benzinga reports. The brokerage currently has a sell rating on the medical equipment provider’s stock.

ZBH has been the topic of several other research reports. Morgan Stanley dropped 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. Piper Sandler downgraded shares of Zimmer Biomet from an overweight rating to a neutral rating and cut their target price for the company from $140.00 to $115.00 in a research note on Monday, July 1st. Barclays cut their target price on shares of Zimmer Biomet from $130.00 to $125.00 and set an underweight rating on the stock in a research note on Friday, May 31st. Evercore ISI cut their target price on shares of Zimmer Biomet from $115.00 to $113.00 and set an in-line rating on the stock in a research note on Thursday. Finally, Truist Financial cut their target price on shares of Zimmer Biomet from $130.00 to $117.00 and set a hold rating on the stock in a research note on Tuesday, July 16th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of Hold and a consensus price target of $127.67.

Zimmer Biomet Price Performance

Shares of NYSE ZBH traded down $0.62 during trading on Thursday, hitting $108.08. The company had a trading volume of 1,161,469 shares, compared to its average volume of 1,502,015. The company has a market cap of $22.24 billion, a P/E ratio of 23.39, a PEG ratio of 1.97 and a beta of 1.01. Zimmer Biomet has a 52 week low of $102.00 and a 52 week high of $133.90. The business’s 50-day moving average is $109.12 and its 200 day moving average is $118.71. 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:ZBH) last posted its quarterly earnings results on Wednesday, August 7th. The medical equipment provider reported $2.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.99 by $0.02. The company had revenue of $1.94 billion for the quarter, compared to analysts’ expectations of $1.94 billion. Zimmer Biomet had a return on equity of 12.70% and a net margin of 12.93%. The firm’s revenue was up 3.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.82 earnings per share. Equities research analysts predict that Zimmer Biomet will post 8.1 earnings per share for the current fiscal year.

Zimmer Biomet Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 31st. Stockholders of record on Wednesday, June 26th were given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.89%. The ex-dividend date was Wednesday, June 26th. Zimmer Biomet’s dividend payout ratio is currently 20.78%.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in ZBH. Norges Bank acquired a new position in shares of Zimmer Biomet during the fourth quarter valued at about $266,896,000. Price T Rowe Associates Inc. MD raised its position in Zimmer Biomet by 12.9% in the first 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. raised its position in Zimmer Biomet by 12.6% in the second quarter. American Century Companies Inc. now owns 6,463,845 shares of the medical equipment provider’s stock worth $701,521,000 after purchasing an additional 722,041 shares in the last quarter. Boston Partners raised its position in Zimmer Biomet by 26.3% in the first 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 raised its position in Zimmer Biomet by 23.7% in the fourth 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 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.