Zimmer Biomet (NYSE:ZBH) Downgraded by Piper Sandler to Neutral

Piper Sandler downgraded shares of Zimmer Biomet (NYSE:ZBH) from an overweight rating to a neutral rating in a research report released on Monday, Marketbeat.com reports. The firm currently has $115.00 target price on the medical equipment provider’s stock, down from their prior target price of $140.00.

Several other analysts also recently weighed in on the stock. The Goldman Sachs Group assumed coverage on shares of Zimmer Biomet in a research report on Thursday, May 30th. They issued a neutral rating and a $129.00 price objective on the stock. Needham & Company LLC reiterated a hold rating on shares of Zimmer Biomet in a research report on Thursday, May 30th. Argus upgraded shares of Zimmer Biomet from a hold rating to a buy rating and set a $150.00 price objective on the stock in a research report on Tuesday, May 21st. Oppenheimer raised their target price on shares of Zimmer Biomet from $150.00 to $155.00 and gave the company an outperform rating in a research note on Friday, May 3rd. Finally, Citigroup raised their target price on shares of Zimmer Biomet from $134.00 to $140.00 and gave the company a neutral rating in a research note on Wednesday, April 3rd. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, Zimmer Biomet presently has a consensus rating of Hold and an average price target of $132.65.

Zimmer Biomet Trading Down 2.4 %

NYSE ZBH opened at $105.96 on Monday. Zimmer Biomet has a 12 month low of $102.00 and a 12 month high of $144.80. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.66 and a quick ratio of 0.80. The company has a market capitalization of $21.80 billion, a price-to-earnings ratio of 22.94, a price-to-earnings-growth ratio of 1.95 and a beta of 1.01. The company’s fifty day moving average price is $115.29 and its two-hundred day moving average price is $121.22.

Zimmer Biomet (NYSE:ZBH) last posted its quarterly earnings results on Thursday, May 2nd. The medical equipment provider reported $1.94 earnings per share (EPS) 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 for the quarter, compared to the consensus estimate of $1.87 billion. During the same period last year, the firm posted $1.89 EPS. The company’s revenue for the quarter was up 3.2% on a year-over-year basis. As a group, research analysts predict that Zimmer Biomet will post 8.1 earnings per share for the current fiscal year.

Zimmer Biomet Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Wednesday, June 26th will be paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 0.91%. The ex-dividend date of this dividend is Wednesday, June 26th. Zimmer Biomet’s dividend payout ratio (DPR) is presently 20.78%.

Hedge Funds Weigh In On Zimmer Biomet

A number of institutional investors have recently modified their holdings of ZBH. Tower Research Capital LLC TRC raised its position in shares of Zimmer Biomet by 8.4% in the third quarter. Tower Research Capital LLC TRC now owns 8,558 shares of the medical equipment provider’s stock valued at $960,000 after purchasing an additional 662 shares during the period. Ancora Advisors LLC increased its position in Zimmer Biomet by 63.3% during the third quarter. Ancora Advisors LLC now owns 570 shares of the medical equipment provider’s stock worth $64,000 after acquiring an additional 221 shares during the period. AQR Capital Management LLC increased its position in Zimmer Biomet by 88.9% during the third quarter. AQR Capital Management LLC now owns 413,774 shares of the medical equipment provider’s stock worth $46,434,000 after acquiring an additional 194,715 shares during the period. Advisors Asset Management Inc. bought a new position in Zimmer Biomet during the third quarter worth $657,000. Finally, Axxcess Wealth Management LLC bought a new position in Zimmer Biomet during the third quarter worth $229,000. 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.