Needham & Company LLC Reaffirms Hold Rating for Zimmer Biomet (NYSE:ZBH)

Needham & Company LLC reiterated their hold rating on shares of Zimmer Biomet (NYSE:ZBH) in a research report sent to investors on Thursday, Benzinga reports.

Other analysts have also recently issued reports about 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 research report on Thursday, October 3rd. Oppenheimer reduced their price target on shares of Zimmer Biomet from $145.00 to $135.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 15th. JPMorgan Chase & Co. cut their target price on shares of Zimmer Biomet from $125.00 to $120.00 and set a “neutral” rating for the company in a research note on Monday, September 16th. Royal Bank of Canada dropped their price target on Zimmer Biomet from $130.00 to $120.00 and set an “outperform” rating for the company in a report on Tuesday, October 8th. Finally, TD Cowen lowered their price objective on shares of Zimmer Biomet from $143.00 to $119.00 and set a “hold” rating for the company in a research report on Friday, September 6th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, Zimmer Biomet has an average rating of “Hold” and an average target price of $123.84.

Zimmer Biomet Price Performance

Shares of ZBH stock opened at $107.27 on Thursday. The company has a market capitalization of $21.35 billion, a P/E ratio of 20.39, a P/E/G ratio of 1.96 and a beta of 1.02. The company has a current ratio of 1.36, a quick ratio of 0.63 and a debt-to-equity ratio of 0.38. Zimmer Biomet has a 12 month low of $101.47 and a 12 month high of $133.90. The stock has a 50 day moving average of $106.96 and a two-hundred day moving average of $110.81.

Zimmer Biomet (NYSE:ZBH) last announced its quarterly earnings data on Wednesday, October 30th. The medical equipment provider reported $1.74 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.75 by ($0.01). The business 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 quarter in the prior year, the company posted $1.65 EPS. As a group, equities analysts expect that Zimmer Biomet will post 7.99 EPS for the current year.

Zimmer Biomet Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, September 30th were paid a dividend of $0.24 per share. The ex-dividend date was Monday, September 30th. This represents a $0.96 annualized dividend and a dividend yield of 0.89%. Zimmer Biomet’s dividend payout ratio is currently 18.25%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. BLB&B Advisors LLC grew its holdings in shares of Zimmer Biomet by 2.1% in the 3rd quarter. BLB&B Advisors LLC now owns 4,900 shares of the medical equipment provider’s stock valued at $529,000 after acquiring an additional 100 shares in the last quarter. Financial Advocates Investment Management raised its stake in shares of Zimmer Biomet by 3.5% during the 3rd quarter. Financial Advocates Investment Management now owns 3,053 shares of the medical equipment provider’s stock worth $330,000 after purchasing an additional 103 shares in the last quarter. PFG Advisors boosted its holdings in shares of Zimmer Biomet by 5.5% in the 1st quarter. PFG Advisors now owns 2,004 shares of the medical equipment provider’s stock valued at $265,000 after buying an additional 105 shares during the last quarter. M&R Capital Management Inc. grew its stake in shares of Zimmer Biomet by 14.1% in the third quarter. M&R Capital Management Inc. now owns 852 shares of the medical equipment provider’s stock valued at $92,000 after buying an additional 105 shares in the last quarter. Finally, Mill Creek Capital Advisors LLC raised its position in Zimmer Biomet by 5.1% during the second quarter. Mill Creek Capital Advisors LLC now owns 2,195 shares of the medical equipment provider’s stock worth $238,000 after acquiring an additional 106 shares in the last quarter. 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.