Zimmer Biomet’s (ZBH) Hold Rating Reiterated at Needham & Company LLC

Needham & Company LLC restated their hold rating on shares of Zimmer Biomet (NYSE:ZBH) in a report released on Thursday morning, Benzinga reports.

Several other equities research analysts have also recently commented on the company. Robert W. Baird lowered their target price on Zimmer Biomet from $155.00 to $145.00 and set an outperform rating for the company in a research note on Thursday. Citigroup lowered their target price on shares of Zimmer Biomet from $134.00 to $120.00 and set a neutral rating for the company in a report on Wednesday, July 10th. Morgan Stanley cut their target price on Zimmer Biomet from $130.00 to $120.00 and set an equal weight rating on the stock in a research note on Monday, July 15th. Truist Financial decreased their target price on Zimmer Biomet from $130.00 to $117.00 and set a hold rating for the company in a research report on Tuesday, July 16th. Finally, Piper Sandler downgraded shares of Zimmer Biomet from an overweight rating to a neutral rating and cut their price target for the company from $140.00 to $115.00 in a research report on Monday, July 1st. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of Hold and a consensus target price of $127.67.

Zimmer Biomet Price Performance

Shares of ZBH stock opened at $108.08 on Thursday. The stock’s fifty day moving average is $108.98 and its 200-day moving average is $118.60. The stock has a market capitalization of $22.24 billion, a PE ratio of 23.39, a PEG ratio of 1.97 and a beta of 1.01. 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 has a 52 week low of $102.00 and a 52 week high of $133.90.

Zimmer Biomet (NYSE:ZBH) last announced its earnings results on Wednesday, August 7th. The medical equipment provider reported $2.01 earnings per share for the quarter, topping analysts’ consensus estimates of $1.99 by $0.02. Zimmer Biomet had a net margin of 12.93% and a return on equity of 12.70%. The company had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.94 billion. During the same period in the previous year, the firm posted $1.82 earnings per share. The company’s revenue was up 3.9% on a year-over-year basis. Equities research analysts expect that Zimmer Biomet will post 8.1 EPS for the current fiscal year.

Zimmer Biomet Dividend Announcement

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

Hedge Funds Weigh In On Zimmer Biomet

Several hedge funds have recently made changes to their positions in ZBH. OLD Point Trust & Financial Services N A acquired a new position in Zimmer Biomet during the fourth quarter worth $26,000. Ables Iannone Moore & Associates Inc. bought a new stake in Zimmer Biomet during the 4th quarter worth about $30,000. Crewe Advisors LLC acquired a new position in shares of Zimmer Biomet during the 1st quarter worth about $31,000. Family Firm Inc. bought a new position in shares of Zimmer Biomet in the 2nd quarter valued at about $33,000. Finally, Naples Money Management LLC acquired a new stake in shares of Zimmer Biomet in the fourth quarter valued at about $35,000. 88.89% of the stock is owned by institutional investors.

Zimmer Biomet Company Profile

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.