Brokerages Set Zimmer Biomet Holdings, Inc. (NYSE:ZBH) Target Price at $125.17

Zimmer Biomet Holdings, Inc. (NYSE:ZBH) has been assigned a consensus recommendation of “Hold” from the twenty brokerages that are covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and six have assigned a buy rating to the company. The average 12 month price target among brokers that have covered the stock in the last year is $125.17.

ZBH has been the topic of several research analyst reports. JPMorgan Chase & Co. reduced their price objective on shares of Zimmer Biomet from $125.00 to $120.00 and set a “neutral” rating on the stock in a report on Monday, September 16th. Piper Sandler lowered shares of Zimmer Biomet from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $140.00 to $115.00 in a report on Monday, July 1st. UBS Group dropped their target price on shares of Zimmer Biomet from $112.00 to $107.00 and set a “sell” rating for the company in a report on Thursday, August 8th. Robert W. Baird cut their target price on Zimmer Biomet from $155.00 to $145.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Finally, Oppenheimer lowered their price target on Zimmer Biomet from $155.00 to $145.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th.

Zimmer Biomet Stock Up 0.5 %

Shares of NYSE ZBH opened at $108.22 on Friday. Zimmer Biomet has a 1 year low of $102.00 and a 1 year high of $133.90. The company has a market capitalization of $22.26 billion, a P/E ratio of 23.42, a P/E/G ratio of 1.97 and a beta of 1.02. The company has a 50 day simple moving average of $109.65 and a 200-day simple moving average of $114.69. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.29 and a quick ratio of 0.63.

Zimmer Biomet (NYSE:ZBH) last posted its earnings results 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. Zimmer Biomet had a return on equity of 12.86% and a net margin of 13.25%. The company had revenue of $1.94 billion for the quarter, compared to the consensus estimate of $1.94 billion. During the same quarter in the previous year, the business earned $1.82 earnings per share. The company’s revenue for the quarter was up 3.9% on a year-over-year basis. On average, equities research analysts predict that Zimmer Biomet will post 8.01 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. This represents a $0.96 dividend on an annualized basis and a yield of 0.89%. The ex-dividend date of this dividend is Monday, September 30th. Zimmer Biomet’s dividend payout ratio is presently 20.78%.

Hedge Funds Weigh In On Zimmer Biomet

Several institutional investors and hedge funds have recently modified their holdings of ZBH. Price T Rowe Associates Inc. MD raised its holdings 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 during the last quarter. American Century Companies Inc. grew its position in shares of Zimmer Biomet by 12.6% in the second quarter. American Century Companies Inc. now owns 6,463,845 shares of the medical equipment provider’s stock valued at $701,521,000 after purchasing an additional 722,041 shares during the period. Boston Partners increased its stake in 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 last quarter. Magnetar Financial LLC lifted its position in Zimmer Biomet by 58.7% during the second 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. Finally, D. E. Shaw & Co. Inc. boosted its stake in Zimmer Biomet by 329.2% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 490,138 shares of the medical equipment provider’s stock worth $53,195,000 after buying an additional 375,929 shares during the last quarter. Hedge funds and other institutional investors own 88.89% of the company’s stock.

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.