Zimmer Biomet (NYSE:ZBH) Price Target Cut to $123.00 by Analysts at Raymond James

Zimmer Biomet (NYSE:ZBH) had its price target lowered by Raymond James from $128.00 to $123.00 in a research report sent to investors on Monday, Benzinga reports. Raymond James currently has an outperform rating on the medical equipment provider’s stock.

A number of other equities analysts also recently weighed in on the stock. Citigroup cut their price target on shares of Zimmer Biomet from $134.00 to $120.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 10th. Oppenheimer cut their price target on shares of Zimmer Biomet from $155.00 to $145.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. Truist Financial reissued a “hold” rating and issued a $112.00 target price (down previously from $117.00) on shares of Zimmer Biomet in a research note on Friday, September 13th. Robert W. Baird cut their target price on shares of Zimmer Biomet from $155.00 to $145.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. Finally, 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. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and eight have given a buy rating to the stock. According to MarketBeat, Zimmer Biomet has an average rating of “Hold” and an average price target of $123.74.

Zimmer Biomet Stock Down 0.5 %

ZBH stock opened at $104.95 on Monday. The company’s 50 day simple moving average is $108.14 and its 200-day simple moving average is $112.59. The firm has a market capitalization of $21.59 billion, a PE ratio of 22.72, a P/E/G ratio of 1.93 and a beta of 1.02. Zimmer Biomet has a 12 month low of $101.47 and a 12 month high of $133.90. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.29 and a quick ratio of 0.63.

Zimmer Biomet (NYSE:ZBH) last released its quarterly earnings results on Wednesday, August 7th. The medical equipment provider reported $2.01 EPS for the quarter, beating the consensus estimate of $1.99 by $0.02. Zimmer Biomet had a net margin of 13.25% and a return on equity of 12.86%. The business had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.94 billion. During the same period in the prior year, the business earned $1.82 earnings per share. The company’s quarterly revenue was up 3.9% on a year-over-year basis. Equities analysts expect that Zimmer Biomet will post 7.98 earnings per share for the current fiscal year.

Zimmer Biomet Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 30th will be issued a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 0.91%. The ex-dividend date is Monday, September 30th. Zimmer Biomet’s dividend payout ratio (DPR) is 20.78%.

Institutional Trading of Zimmer Biomet

Hedge funds have recently made changes to their positions in the stock. Chicago Partners Investment Group LLC raised its stake in Zimmer Biomet by 3.3% during the 4th quarter. Chicago Partners Investment Group LLC now owns 2,894 shares of the medical equipment provider’s stock valued at $349,000 after acquiring an additional 92 shares in the last quarter. North Star Investment Management Corp. raised its stake in shares of Zimmer Biomet by 16.6% in the 1st quarter. North Star Investment Management Corp. now owns 669 shares of the medical equipment provider’s stock worth $88,000 after buying an additional 95 shares in the last quarter. First Bancorp Inc ME raised its stake in shares of Zimmer Biomet by 5.3% in the 1st quarter. First Bancorp Inc ME now owns 1,970 shares of the medical equipment provider’s stock worth $260,000 after buying an additional 100 shares in the last quarter. Ballentine Partners LLC raised its stake in shares of Zimmer Biomet by 2.6% in the 1st quarter. Ballentine Partners LLC now owns 3,957 shares of the medical equipment provider’s stock worth $522,000 after buying an additional 100 shares in the last quarter. Finally, Romano Brothers AND Company grew its holdings in shares of Zimmer Biomet by 1.1% in the 1st quarter. Romano Brothers AND Company now owns 9,514 shares of the medical equipment provider’s stock worth $1,256,000 after acquiring an additional 100 shares during the last quarter. Institutional investors own 88.89% of the company’s stock.

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.