Zimmer Biomet Holdings, Inc. (NYSE:ZBH) Given Average Recommendation of “Hold” by Brokerages

Zimmer Biomet Holdings, Inc. (NYSE:ZBH) has earned a consensus recommendation of “Hold” from the sixteen analysts that are presently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, nine have given a hold recommendation and six have issued a buy recommendation on the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $133.75.

A number of research firms recently issued reports on ZBH. Canaccord Genuity Group reiterated a “hold” rating and set a $130.00 price objective on shares of Zimmer Biomet in a research report on Friday, February 23rd. Evercore ISI upped their price objective on shares of Zimmer Biomet from $125.00 to $130.00 and gave the stock an “in-line” rating in a research report on Thursday, April 4th. Needham & Company LLC reiterated a “hold” rating on shares of Zimmer Biomet in a research report on Thursday, May 30th. Barclays lowered their price objective on shares of Zimmer Biomet from $130.00 to $125.00 and set an “underweight” rating for the company in a research report on Friday, May 31st. Finally, Oppenheimer upped their price target on shares of Zimmer Biomet from $150.00 to $155.00 and gave the company an “outperform” rating in a research report on Friday, May 3rd.

Zimmer Biomet Stock Performance

NYSE ZBH opened at $106.69 on Wednesday. The firm has a 50-day moving average price of $117.77 and a two-hundred day moving average price of $121.75. Zimmer Biomet has a 12-month low of $102.00 and a 12-month high of $147.50. The company has a quick ratio of 0.80, a current ratio of 1.66 and a debt-to-equity ratio of 0.38. The company has a market capitalization of $21.95 billion, a P/E ratio of 23.09, a P/E/G ratio of 1.93 and a beta of 1.02.

Zimmer Biomet (NYSE:ZBH) last issued its quarterly 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. Zimmer Biomet had a net margin of 12.93% and a return on equity of 12.70%. The company had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.87 billion. During the same quarter in the prior year, the firm posted $1.89 EPS. The firm’s quarterly revenue was up 3.2% on a year-over-year basis. Analysts anticipate that Zimmer Biomet will post 8.1 earnings per share for the current year.

Zimmer Biomet Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Wednesday, June 26th will be given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 0.90%. The ex-dividend date is Wednesday, June 26th. Zimmer Biomet’s dividend payout ratio (DPR) is presently 20.78%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. EverSource Wealth Advisors LLC boosted its stake in Zimmer Biomet by 30.0% during the first quarter. EverSource Wealth Advisors LLC now owns 875 shares of the medical equipment provider’s stock worth $105,000 after acquiring an additional 202 shares in the last quarter. Hamilton Wealth LLC boosted its stake in Zimmer Biomet by 2.0% during the first quarter. Hamilton Wealth LLC now owns 40,943 shares of the medical equipment provider’s stock worth $5,404,000 after acquiring an additional 799 shares in the last quarter. DekaBank Deutsche Girozentrale boosted its stake in Zimmer Biomet by 5.1% during the first quarter. DekaBank Deutsche Girozentrale now owns 276,635 shares of the medical equipment provider’s stock worth $36,471,000 after acquiring an additional 13,513 shares in the last quarter. Pathway Financial Advisers LLC bought a new position in Zimmer Biomet during the first quarter worth $138,000. Finally, Boston Partners boosted its stake in Zimmer Biomet by 26.3% during the first quarter. Boston Partners now owns 3,314,939 shares of the medical equipment provider’s stock worth $437,413,000 after acquiring an additional 691,191 shares in the last quarter. 88.89% of the stock is owned by institutional investors.

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.