Zimmer Biomet Holdings, Inc. (NYSE:ZBH) Receives $123.94 Average PT from Brokerages

Shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) have been given a consensus recommendation of “Hold” by the twenty research firms that are currently covering the company, MarketBeat reports. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and seven have given a buy rating to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $123.94.

ZBH has been the subject of several analyst reports. Royal Bank of Canada cut their price target on shares of Zimmer Biomet from $130.00 to $120.00 and set an “outperform” rating for the company in a report on Tuesday, October 8th. Raymond James reduced their target price on Zimmer Biomet from $128.00 to $123.00 and set an “outperform” rating for the company in a research report on Monday, October 14th. UBS Group decreased their target price on Zimmer Biomet from $112.00 to $107.00 and set a “sell” rating on the stock in a research note on Thursday, August 8th. BTIG Research dropped their price target on Zimmer Biomet from $134.00 to $126.00 and set a “buy” rating for the company in a research report on Thursday, October 3rd. Finally, Morgan Stanley decreased their price objective on shares of Zimmer Biomet from $130.00 to $120.00 and set an “equal weight” rating on the stock in a research report on Monday, July 15th.

Zimmer Biomet Stock Performance

Shares of ZBH opened at $104.00 on Tuesday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.63 and a current ratio of 1.29. The stock has a market capitalization of $21.40 billion, a price-to-earnings ratio of 22.51, a price-to-earnings-growth ratio of 1.92 and a beta of 1.02. Zimmer Biomet has a 52-week low of $101.47 and a 52-week high of $133.90. The stock’s 50-day simple moving average is $107.89 and its 200 day simple moving average is $111.82.

Zimmer Biomet (NYSE:ZBH) last announced its quarterly earnings results on Wednesday, August 7th. The medical equipment provider reported $2.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.99 by $0.02. The firm had revenue of $1.94 billion for the quarter, compared to the consensus estimate of $1.94 billion. Zimmer Biomet had a net margin of 13.25% and a return on equity of 12.86%. The company’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same period in the prior year, the firm posted $1.82 earnings per share. Research analysts forecast that Zimmer Biomet will post 7.97 EPS for the current fiscal year.

Zimmer Biomet Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 30th will be paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.92%. The ex-dividend date of this dividend is Monday, September 30th. Zimmer Biomet’s dividend payout ratio (DPR) is presently 20.78%.

Hedge Funds Weigh In On Zimmer Biomet

Several institutional investors and hedge funds have recently bought and sold shares of ZBH. Price T Rowe Associates Inc. MD boosted its stake in shares of Zimmer Biomet by 12.9% during the first 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 purchasing an additional 1,215,935 shares during the period. American Century Companies Inc. boosted its position in Zimmer Biomet by 12.6% during the 2nd quarter. American Century Companies Inc. now owns 6,463,845 shares of the medical equipment provider’s stock valued at $701,521,000 after buying an additional 722,041 shares during the period. Boston Partners grew its holdings in Zimmer Biomet by 26.3% in the 1st 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 during the last quarter. Magnetar Financial LLC increased its position in shares of Zimmer Biomet by 58.7% in the second quarter. Magnetar Financial LLC now owns 1,310,265 shares of the medical equipment provider’s stock valued at $142,203,000 after acquiring an additional 484,816 shares during the period. Finally, D. E. Shaw & Co. Inc. raised its stake in shares of Zimmer Biomet by 329.2% during the second quarter. D. E. Shaw & Co. Inc. now owns 490,138 shares of the medical equipment provider’s stock valued at $53,195,000 after acquiring an additional 375,929 shares during the last quarter. 88.89% of the stock is currently owned by institutional investors.

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.