Zimmer Biomet (NYSE:ZBH) Price Target Raised to $125.00

Zimmer Biomet (NYSE:ZBH) had its price target lifted by Royal Bank of Canada from $120.00 to $125.00 in a research report released on Monday, Benzinga reports. The firm currently has an outperform rating on the medical equipment provider’s stock.

Other analysts have also recently issued research reports about the company. Citigroup cut their target price on Zimmer Biomet from $134.00 to $120.00 and set a “neutral” rating for the company in a research report on Wednesday, July 10th. Morgan Stanley decreased their target price on 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. BTIG Research decreased their target price on shares of Zimmer Biomet from $134.00 to $126.00 and set a “buy” rating on the stock in a research report on Thursday, October 3rd. Evercore ISI reduced their price objective on Zimmer Biomet from $113.00 to $110.00 and set an “in-line” rating on the stock in a research note on Tuesday, October 1st. Finally, Robert W. Baird cut their target price on Zimmer Biomet from $155.00 to $145.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $124.11.

Zimmer Biomet Stock Performance

Shares of ZBH opened at $110.20 on Monday. The business has a fifty day moving average of $106.64 and a 200 day moving average of $110.58. The firm has a market capitalization of $21.94 billion, a P/E ratio of 20.95, a PEG ratio of 1.99 and a beta of 1.02. Zimmer Biomet has a one year low of $101.47 and a one year high of $133.90. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.36 and a quick ratio of 0.70.

Zimmer Biomet (NYSE:ZBH) last posted its quarterly earnings data on Wednesday, October 30th. The medical equipment provider reported $1.74 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 period in the prior year, the business posted $1.65 EPS. Zimmer Biomet’s revenue was up 4.1% on a year-over-year basis. As a group, sell-side analysts anticipate that Zimmer Biomet will post 7.99 EPS for the current year.

Zimmer Biomet Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Investors 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 dividend on an annualized basis and a yield of 0.87%. Zimmer Biomet’s dividend payout ratio is presently 18.25%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD lifted its position in 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 worth $1,404,638,000 after buying an additional 1,215,935 shares in the last quarter. American Century Companies Inc. raised its position in shares of 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 lifted its holdings in Zimmer Biomet by 26.3% in the first quarter. Boston Partners now owns 3,314,939 shares of the medical equipment provider’s stock valued at $437,413,000 after acquiring an additional 691,191 shares during the last quarter. Magnetar Financial LLC grew its position in 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 worth $142,203,000 after acquiring an additional 484,816 shares during the period. Finally, Van ECK Associates Corp raised its position in Zimmer Biomet by 12.4% in the third quarter. Van ECK Associates Corp now owns 3,736,761 shares of the medical equipment provider’s stock valued at $391,239,000 after purchasing an additional 411,163 shares during the period. Hedge funds and other institutional investors own 88.89% of the company’s stock.

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.