Zimmer Biomet (NYSE:ZBH) Price Target Raised to $118.00 at Truist Financial

Zimmer Biomet (NYSE:ZBH) had its target price upped by Truist Financial from $117.00 to $118.00 in a research report sent to investors on Wednesday morning,Benzinga reports. The brokerage currently has a hold rating on the medical equipment provider’s stock.

ZBH has been the subject of a number of other research reports. Raymond James lowered their price target on Zimmer Biomet from $128.00 to $123.00 and set an “outperform” rating for the company in a report on Monday, October 14th. TD Cowen dropped their price target 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. Wells Fargo & Company raised their price target on Zimmer Biomet from $110.00 to $117.00 and gave the company an “equal weight” rating in a research note on Thursday, October 31st. Oppenheimer lowered their price objective on shares of Zimmer Biomet from $145.00 to $135.00 and set an “outperform” rating for the company in a research note on Tuesday, October 15th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Zimmer Biomet in a research report on Thursday, October 31st. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $123.33.

Zimmer Biomet Price Performance

Shares of ZBH stock opened at $107.12 on Wednesday. The stock has a 50 day moving average price of $108.09 and a 200 day moving average price of $108.47. The firm has a market capitalization of $21.32 billion, a P/E ratio of 20.37, a P/E/G ratio of 1.96 and a beta of 1.02. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.70 and a current ratio of 1.36. Zimmer Biomet has a 52-week low of $101.47 and a 52-week high of $133.90.

Zimmer Biomet (NYSE:ZBH) last issued its earnings results on Wednesday, October 30th. The medical equipment provider reported $1.74 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.74. The firm had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.80 billion. Zimmer Biomet had a net margin of 14.27% and a return on equity of 12.95%. The business’s revenue was up 4.1% on a year-over-year basis. During the same period in the previous year, the firm earned $1.65 earnings per share. As a group, sell-side analysts predict that Zimmer Biomet will post 7.99 earnings per share for the current year.

Zimmer Biomet Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Monday, December 30th will be given a $0.24 dividend. The ex-dividend date of this dividend is Monday, December 30th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.90%. Zimmer Biomet’s payout ratio is 18.25%.

Institutional Trading of Zimmer Biomet

Several large investors have recently bought and sold shares of the stock. Dunhill Financial LLC grew its stake in Zimmer Biomet by 1,090.0% during the 3rd quarter. Dunhill Financial LLC now owns 238 shares of the medical equipment provider’s stock valued at $26,000 after purchasing an additional 218 shares during the last quarter. Ashton Thomas Securities LLC acquired a new stake in shares of Zimmer Biomet during the third quarter worth about $28,000. Bangor Savings Bank purchased a new stake in Zimmer Biomet in the third quarter valued at approximately $31,000. Family Firm Inc. acquired a new position in Zimmer Biomet in the 2nd quarter worth approximately $33,000. Finally, Brooklyn Investment Group purchased a new position in Zimmer Biomet during the 3rd quarter worth approximately $35,000. 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.