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

Shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) have been assigned a consensus recommendation of “Hold” from the eighteen ratings firms that are presently covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating on the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $126.41.

ZBH has been the subject of several research reports. Barclays cut their price objective on Zimmer Biomet from $130.00 to $125.00 and set an “underweight” rating for the company in a research note on Friday, May 31st. Needham & Company LLC reaffirmed a “hold” rating on shares of Zimmer Biomet in a research note on Thursday, August 8th. Oppenheimer reduced their target price on shares of Zimmer Biomet from $155.00 to $145.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. UBS Group lowered their price target on shares of Zimmer Biomet from $112.00 to $107.00 and set a “sell” rating on the stock in a research report on Thursday, August 8th. Finally, Truist Financial decreased their target price on shares of Zimmer Biomet from $130.00 to $117.00 and set a “hold” rating on the stock in a research note on Tuesday, July 16th.

Zimmer Biomet Stock Performance

ZBH opened at $115.46 on Monday. The stock has a market cap of $23.51 billion, a P/E ratio of 24.99, a P/E/G ratio of 2.06 and a beta of 1.01. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.29 and a quick ratio of 0.63. The firm has a fifty day moving average price of $109.76 and a 200 day moving average price of $117.30. Zimmer Biomet has a 1 year low of $102.00 and a 1 year high of $133.90.

Zimmer Biomet (NYSE:ZBH) last issued its quarterly earnings results on Wednesday, August 7th. The medical equipment provider reported $2.01 EPS for the quarter, topping the consensus estimate of $1.99 by $0.02. The company had revenue of $1.94 billion during 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 firm’s revenue was up 3.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.82 EPS. Equities research analysts anticipate that Zimmer Biomet will post 8.06 earnings per share for the current year.

Zimmer Biomet Announces Dividend

The business 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 dividend of $0.24 per share. The ex-dividend date is Monday, September 30th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.83%. Zimmer Biomet’s payout ratio is currently 20.78%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of Zimmer Biomet in the 4th quarter valued at $266,896,000. Price T Rowe Associates Inc. MD grew its position in Zimmer Biomet by 12.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 10,642,801 shares of the medical equipment provider’s stock valued at $1,404,638,000 after acquiring an additional 1,215,935 shares in the last quarter. American Century Companies Inc. increased its stake in Zimmer Biomet by 12.6% during the second quarter. American Century Companies Inc. now owns 6,463,845 shares of the medical equipment provider’s stock worth $701,521,000 after purchasing an additional 722,041 shares during the period. Boston Partners boosted its stake in shares of Zimmer Biomet by 26.3% in the first quarter. Boston Partners now owns 3,314,939 shares of the medical equipment provider’s stock valued at $437,413,000 after purchasing an additional 691,191 shares during the period. Finally, Magnetar Financial LLC increased its stake in Zimmer Biomet by 58.7% during the 2nd quarter. Magnetar Financial LLC now owns 1,310,265 shares of the medical equipment provider’s stock worth $142,203,000 after buying an additional 484,816 shares during the period. 88.89% of the stock is currently owned by institutional investors and hedge funds.

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.