Zimmer Biomet (NYSE:ZBH) PT Lowered to $123.00 at Raymond James

by · The Markets Daily

Zimmer Biomet (NYSE:ZBH – Free Report) had its price objective reduced by Raymond James from $128.00 to $123.00 in a research note published on Monday morning, Benzinga reports. Raymond James currently has an outperform rating on the medical equipment provider’s stock.

Several other research firms have also recently issued reports on ZBH. Canaccord Genuity Group lowered their price objective on Zimmer Biomet from $120.00 to $115.00 and set a “hold” rating for the company in a research report on Tuesday, September 10th. Evercore ISI lowered their price target on Zimmer Biomet from $113.00 to $110.00 and set an “in-line” rating for the company in a report on Tuesday, October 1st. Truist Financial reissued a “hold” rating and set a $112.00 price objective (down previously from $117.00) on shares of Zimmer Biomet in a report on Friday, September 13th. Royal Bank of Canada lowered their target price on shares of Zimmer Biomet from $130.00 to $120.00 and set an “outperform” rating for the company in a report on Tuesday, October 8th. Finally, Wolfe Research began coverage on shares of Zimmer Biomet in a research note on Tuesday, September 10th. They set a “peer perform” rating on the stock. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $123.74.

Get Our Latest Report on ZBH

Zimmer Biomet Stock Up 0.8 %

Shares of NYSE:ZBH opened at $105.45 on Monday. Zimmer Biomet has a fifty-two week low of $101.47 and a fifty-two week high of $133.90. The firm’s 50 day moving average price is $108.22 and its 200 day moving average price is $112.64. The company has a quick ratio of 0.63, a current ratio of 1.29 and a debt-to-equity ratio of 0.31. The stock has a market cap of $21.69 billion, a price-to-earnings ratio of 22.82, a price-to-earnings-growth ratio of 1.93 and a beta of 1.02.

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

Zimmer Biomet Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 30th will be given a $0.24 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $0.96 dividend on an annualized basis and a yield of 0.91%. Zimmer Biomet’s payout ratio is currently 20.78%.

Hedge Funds Weigh In On Zimmer Biomet

Several institutional investors and hedge funds have recently added to or reduced their stakes in ZBH. Chicago Partners Investment Group LLC raised its position in Zimmer Biomet by 3.3% in the fourth quarter. Chicago Partners Investment Group LLC now owns 2,894 shares of the medical equipment provider’s stock worth $349,000 after acquiring an additional 92 shares in the last quarter. Wellington Management Group LLP acquired a new stake in shares of Zimmer Biomet in the fourth quarter valued at about $1,335,000. SageView Advisory Group LLC acquired a new stake in shares of Zimmer Biomet in the fourth quarter valued at about $321,000. B. Riley Wealth Advisors Inc. grew its position in Zimmer Biomet by 4.3% during the fourth quarter. B. Riley Wealth Advisors Inc. now owns 3,414 shares of the medical equipment provider’s stock worth $416,000 after buying an additional 141 shares during the period. Finally, HighPoint Advisor Group LLC purchased a new position in Zimmer Biomet in the fourth quarter valued at about $297,000. Institutional investors and hedge funds own 88.89% of the company’s stock.

Zimmer Biomet Company Profile

(Get Free Report)

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.

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