Zimmer Biomet (NYSE:ZBH) Given New $117.00 Price Target at Wells Fargo & Company

Zimmer Biomet (NYSE:ZBH) had its price target increased by Wells Fargo & Company from $110.00 to $117.00 in a research report report published on Thursday, Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the medical equipment provider’s stock.

A number of other research analysts have also issued reports on ZBH. TD Cowen decreased their target price on Zimmer Biomet from $143.00 to $119.00 and set a “hold” rating for the company in a report on Friday, September 6th. Raymond James decreased their price objective on Zimmer Biomet from $128.00 to $123.00 and set an “outperform” rating for the company in a research note on Monday, October 14th. Canaccord Genuity Group cut their target price on shares of Zimmer Biomet from $120.00 to $115.00 and set a “hold” rating on the stock in a research note on Tuesday, September 10th. JPMorgan Chase & Co. decreased their price target on shares of Zimmer Biomet from $125.00 to $120.00 and set a “neutral” rating for the company in a research note on Monday, September 16th. Finally, Evercore ISI decreased their price target on Zimmer Biomet from $113.00 to $110.00 and set an “in-line” rating for the company in a report on Tuesday, October 1st. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $123.84.

Zimmer Biomet Stock Performance

NYSE:ZBH opened at $107.27 on Thursday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.63 and a current ratio of 1.36. The company has a 50 day moving average price of $106.96 and a 200 day moving average price of $110.73. Zimmer Biomet has a fifty-two week low of $101.47 and a fifty-two week high of $133.90. The stock has a market capitalization of $21.35 billion, a P/E ratio of 20.39, a PEG ratio of 1.96 and a beta of 1.02.

Zimmer Biomet (NYSE:ZBH) last issued its quarterly earnings results on Wednesday, October 30th. The medical equipment provider reported $1.74 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.74. The business had revenue of $1.82 billion for the quarter, compared to analysts’ expectations of $1.80 billion. Zimmer Biomet had a net margin of 14.27% and a return on equity of 12.95%. The business’s quarterly revenue was up 4.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.65 earnings per share. Equities research analysts forecast that Zimmer Biomet will post 7.99 EPS for the current year.

Zimmer Biomet Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, September 30th were given a dividend of $0.24 per share. The ex-dividend date was Monday, September 30th. This represents a $0.96 dividend on an annualized basis and a yield of 0.89%. Zimmer Biomet’s payout ratio is currently 18.25%.

Institutional Trading of Zimmer Biomet

Hedge funds and other institutional investors have recently made changes to their positions in the company. M&G Plc acquired a new stake in Zimmer Biomet in the first quarter valued at about $7,397,000. Gradient Investments LLC lifted its holdings in shares of Zimmer Biomet by 17.3% in the 2nd quarter. Gradient Investments LLC now owns 130,350 shares of the medical equipment provider’s stock valued at $14,147,000 after buying an additional 19,224 shares during the period. CANADA LIFE ASSURANCE Co boosted its stake in shares of Zimmer Biomet by 7.3% in the first quarter. CANADA LIFE ASSURANCE Co now owns 229,233 shares of the medical equipment provider’s stock valued at $30,265,000 after buying an additional 15,548 shares in the last quarter. Swedbank AB acquired a new position in Zimmer Biomet during the first quarter worth $2,740,000. Finally, Forsta AP Fonden raised its position in Zimmer Biomet by 95.1% in the first quarter. Forsta AP Fonden now owns 99,100 shares of the medical equipment provider’s stock worth $13,079,000 after acquiring an additional 48,300 shares in the last quarter. Hedge funds and other 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.