Brokerages Set Zimmer Biomet Holdings, Inc. (NYSE:ZBH) PT at $123.22

Zimmer Biomet Holdings, Inc. (NYSE:ZBH) has been given an average rating of “Hold” by the twenty analysts that are presently covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a sell recommendation, twelve have given a hold recommendation and six have issued a buy recommendation on the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $123.22.

A number of research analysts have recently issued reports on the company. BTIG Research lowered their price target on Zimmer Biomet from $134.00 to $126.00 and set a “buy” rating on the stock in a report on Thursday, October 3rd. Oppenheimer decreased their price objective on shares of Zimmer Biomet from $145.00 to $135.00 and set an “outperform” rating for the company in a report on Tuesday, October 15th. Canaccord Genuity Group cut their target price on shares of Zimmer Biomet from $120.00 to $115.00 and set a “hold” rating for the company in a research report on Tuesday, September 10th. Wolfe Research assumed coverage on Zimmer Biomet in a research report on Tuesday, September 10th. They set a “peer perform” rating for the company. Finally, TD Cowen dropped their target price on Zimmer Biomet from $143.00 to $119.00 and set a “hold” rating on the stock in a research report on Friday, September 6th.

Zimmer Biomet Price Performance

ZBH stock opened at $109.31 on Friday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.70 and a current ratio of 1.36. The firm has a market capitalization of $21.76 billion, a price-to-earnings ratio of 20.78, a PEG ratio of 2.08 and a beta of 1.02. The firm has a 50 day moving average price of $106.65 and a 200-day moving average price of $109.86. Zimmer Biomet has a 52-week low of $101.47 and a 52-week high of $133.90.

Zimmer Biomet (NYSE:ZBH) last posted 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. Zimmer Biomet had a return on equity of 12.95% and a net margin of 14.27%. The firm had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.80 billion. During the same quarter in the previous year, the firm earned $1.65 EPS. Zimmer Biomet’s quarterly revenue was up 4.1% compared to the same quarter last year. Equities research analysts forecast that Zimmer Biomet will post 7.99 EPS for the current fiscal year.

Zimmer Biomet Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, September 30th were given a dividend of $0.24 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $0.96 annualized dividend and a dividend yield of 0.88%. Zimmer Biomet’s dividend payout ratio (DPR) is currently 18.25%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the business. Dunhill Financial LLC raised its holdings in Zimmer Biomet by 1,090.0% during the third quarter. Dunhill Financial LLC now owns 238 shares of the medical equipment provider’s stock worth $26,000 after purchasing an additional 218 shares in the last quarter. Ashton Thomas Securities LLC acquired a new position in Zimmer Biomet in the third quarter valued at $28,000. Crewe Advisors LLC purchased a new position in shares of Zimmer Biomet during the first quarter worth about $31,000. Bangor Savings Bank purchased a new stake in shares of Zimmer Biomet in the 3rd quarter valued at about $31,000. Finally, Family Firm Inc. acquired a new stake in shares of Zimmer Biomet in the 2nd quarter valued at about $33,000. 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.