Truist Financial Reaffirms Hold Rating for Zimmer Biomet (NYSE:ZBH)

Truist Financial reissued their hold rating on shares of Zimmer Biomet (NYSE:ZBH) in a research note released on Friday, Benzinga reports. The brokerage currently has a $112.00 price objective on the medical equipment provider’s stock, down from their prior price objective of $117.00.

Several other equities research analysts also recently issued reports on the stock. Barclays cut their target price on shares of Zimmer Biomet from $130.00 to $125.00 and set an underweight rating for the company in a research note on Friday, May 31st. Argus upgraded Zimmer Biomet from a hold rating to a buy rating and set a $150.00 price objective for the company in a report on Tuesday, May 21st. Oppenheimer cut their price objective on shares of Zimmer Biomet from $155.00 to $145.00 and set an outperform rating for the company in a report on Thursday, August 8th. Raymond James reduced their price objective on shares of Zimmer Biomet from $138.00 to $128.00 and set an outperform rating on the stock in a research note on Thursday, August 8th. Finally, Wolfe Research initiated coverage on shares of Zimmer Biomet in a research report 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 seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of Hold and an average price target of $125.44.

Zimmer Biomet Trading Up 1.1 %

Shares of ZBH opened at $106.26 on Friday. The firm has a market capitalization of $21.64 billion, a PE ratio of 23.00, a price-to-earnings-growth ratio of 1.92 and a beta of 1.02. Zimmer Biomet has a 12-month low of $102.00 and a 12-month high of $133.90. 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’s fifty day simple moving average is $109.90 and its 200-day simple moving average is $116.03.

Zimmer Biomet (NYSE:ZBH) last released its quarterly earnings data on Wednesday, August 7th. The medical equipment provider reported $2.01 EPS for the quarter, beating analysts’ consensus estimates of $1.99 by $0.02. The business had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.94 billion. Zimmer Biomet had a return on equity of 12.86% and a net margin of 13.25%. The firm’s revenue was up 3.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.82 earnings per share. As a group, research analysts predict that Zimmer Biomet will post 8.02 earnings per share for the current year.

Zimmer Biomet Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 30th will be issued a $0.24 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $0.96 annualized dividend and a yield of 0.90%. Zimmer Biomet’s payout ratio is currently 20.78%.

Hedge Funds Weigh In On Zimmer Biomet

A number of institutional investors have recently modified their holdings of the company. TD Asset Management Inc grew its holdings in shares of Zimmer Biomet by 10.1% during the fourth quarter. TD Asset Management Inc now owns 169,595 shares of the medical equipment provider’s stock valued at $20,640,000 after buying an additional 15,552 shares during the last quarter. Bank of Nova Scotia raised its position in Zimmer Biomet by 499.0% in the 4th quarter. Bank of Nova Scotia now owns 134,729 shares of the medical equipment provider’s stock valued at $16,397,000 after buying an additional 112,237 shares during the last quarter. Speece Thorson Capital Group Inc. lifted its stake in Zimmer Biomet by 13.8% during the 4th quarter. Speece Thorson Capital Group Inc. now owns 158,202 shares of the medical equipment provider’s stock valued at $19,253,000 after acquiring an additional 19,144 shares in the last quarter. APG Asset Management US Inc. bought a new stake in shares of Zimmer Biomet in the 4th quarter worth $14,530,000. Finally, M&G Plc purchased a new stake in shares of Zimmer Biomet in the first quarter valued at about $7,397,000. 88.89% of the stock is owned by institutional investors and hedge funds.

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.