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

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

Other equities analysts have also issued research reports about the company. Evercore ISI lowered their target price 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. Citigroup decreased their target price on shares of Zimmer Biomet from $134.00 to $120.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 10th. TD Cowen reduced their price objective on shares of Zimmer Biomet from $143.00 to $119.00 and set a “hold” rating on the stock in a research note on Friday, September 6th. BTIG Research reduced their price objective on Zimmer Biomet from $134.00 to $126.00 and set a “buy” rating on the stock in a research note on Thursday, October 3rd. Finally, Royal Bank of Canada dropped their price objective on shares of Zimmer Biomet from $130.00 to $120.00 and set an “outperform” rating for the company in a research note on Tuesday, October 8th. Two equities 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 company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $123.58.

Zimmer Biomet Stock Up 1.5 %

Shares of NYSE:ZBH traded up $1.59 during midday trading on Thursday, reaching $108.51. 64,279 shares of the company were exchanged, compared to its average volume of 1,482,753. The firm has a market cap of $22.10 billion, a PE ratio of 20.33, a P/E/G ratio of 2.02 and a beta of 1.02. The stock has a fifty day simple moving average of $107.11 and a two-hundred day simple moving average of $111.00. Zimmer Biomet has a fifty-two week low of $101.47 and a fifty-two week high of $133.90. The company has a quick ratio of 0.63, a current ratio of 1.36 and a debt-to-equity ratio of 0.38.

Zimmer Biomet (NYSE:ZBH) last released its quarterly earnings data on Wednesday, October 30th. The medical equipment provider reported $1.74 EPS for the quarter, missing the consensus estimate of $1.75 by ($0.01). The company 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 company’s quarterly revenue was up 4.1% compared to the same quarter last year. During the same period in the previous year, the company posted $1.65 EPS. As a group, sell-side analysts forecast that Zimmer Biomet will post 7.97 earnings per share for the current year.

Zimmer Biomet Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, September 30th were paid a $0.24 dividend. 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 payout ratio is 18.25%.

Institutional Trading of Zimmer Biomet

A number of institutional investors have recently added to or reduced their stakes in the stock. Crewe Advisors LLC bought a new stake in Zimmer Biomet in the first quarter valued at approximately $31,000. Bangor Savings Bank bought a new position in Zimmer Biomet during the 3rd quarter valued at approximately $31,000. Family Firm Inc. purchased a new stake in Zimmer Biomet in the 2nd quarter worth approximately $33,000. J.Safra Asset Management Corp increased its stake in shares of Zimmer Biomet by 712.1% during the first quarter. J.Safra Asset Management Corp now owns 268 shares of the medical equipment provider’s stock valued at $35,000 after buying an additional 235 shares during the period. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new stake in shares of Zimmer Biomet during the 2nd quarter valued at about $43,000. 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.