Brokerages Set Zimmer Biomet Holdings, Inc. (NYSE:ZBH) Target Price at $124.15

Zimmer Biomet Holdings, Inc. (NYSE:ZBH) has earned a consensus rating of “Hold” from the twenty-two research firms that are covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and nine have assigned a buy rating to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $124.15.

ZBH has been the subject of several recent research reports. Raymond James reduced their price objective on Zimmer Biomet from $126.00 to $119.00 and set an “outperform” rating for the company in a research note on Friday, February 7th. Stifel Nicolaus increased their target price on shares of Zimmer Biomet from $130.00 to $138.00 and gave the company a “buy” rating in a research report on Thursday, January 23rd. Truist Financial restated a “hold” rating and set a $113.00 price target (down from $118.00) on shares of Zimmer Biomet in a research report on Monday, February 10th. Royal Bank of Canada cut their price objective on shares of Zimmer Biomet from $130.00 to $125.00 and set an “outperform” rating for the company in a report on Friday, February 7th. Finally, JMP Securities restated a “market outperform” rating and set a $140.00 target price on shares of Zimmer Biomet in a report on Friday, February 7th.

Zimmer Biomet Stock Performance

ZBH opened at $110.79 on Friday. The firm’s fifty day simple moving average is $106.74 and its two-hundred day simple moving average is $106.81. Zimmer Biomet has a 52-week low of $97.69 and a 52-week high of $133.90. The company has a market cap of $22.05 billion, a price-to-earnings ratio of 24.90, a PEG ratio of 1.95 and a beta of 1.04. The company has a quick ratio of 0.99, a current ratio of 1.91 and a debt-to-equity ratio of 0.43.

Zimmer Biomet (NYSE:ZBH) last issued its quarterly earnings results on Thursday, February 6th. The medical equipment provider reported $2.31 earnings per share for the quarter, beating analysts’ consensus estimates of $2.30 by $0.01. Zimmer Biomet had a net margin of 11.77% and a return on equity of 12.99%. During the same period last year, the firm posted $2.20 EPS. Equities analysts anticipate that Zimmer Biomet will post 8.22 earnings per share for the current fiscal year.

Zimmer Biomet Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.87%. The ex-dividend date of this dividend is Monday, March 31st. Zimmer Biomet’s dividend payout ratio is presently 21.57%.

Insider Activity

In other news, SVP Lori Winkler sold 1,443 shares of Zimmer Biomet stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $104.40, for a total value of $150,649.20. Following the completion of the sale, the senior vice president now directly owns 8,768 shares of the company’s stock, valued at approximately $915,379.20. The trade was a 14.13 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.95% of the company’s stock.

Hedge Funds Weigh In On Zimmer Biomet

Several institutional investors have recently bought and sold shares of the company. Roman Butler Fullerton & Co. acquired a new stake in shares of Zimmer Biomet during the fourth quarter worth about $473,000. Geode Capital Management LLC lifted its holdings in Zimmer Biomet by 2.6% during the 3rd quarter. Geode Capital Management LLC now owns 4,879,385 shares of the medical equipment provider’s stock worth $524,942,000 after buying an additional 125,852 shares in the last quarter. M&T Bank Corp boosted its position in Zimmer Biomet by 48.4% in the 3rd quarter. M&T Bank Corp now owns 26,719 shares of the medical equipment provider’s stock valued at $2,884,000 after buying an additional 8,709 shares during the period. KLCM Advisors Inc. acquired a new position in shares of Zimmer Biomet in the fourth quarter worth $7,825,000. Finally, Peddock Capital Advisors LLC purchased a new stake in shares of Zimmer Biomet during the fourth quarter worth $654,000. 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.