Zimmer Biomet (NYSE:ZBH) Given New $117.00 Price Target at Truist Financial

Zimmer Biomet (NYSE:ZBH) had its price objective hoisted by Truist Financial from $112.00 to $117.00 in a research report sent to investors on Friday morning, Benzinga reports. They currently have a hold rating on the medical equipment provider’s stock.

A number of other equities research analysts also recently commented on ZBH. Evercore ISI reduced their price objective on shares of Zimmer Biomet from $113.00 to $110.00 and set an “in-line” rating for the company in a research report on Tuesday, October 1st. Raymond James cut their price objective on Zimmer Biomet from $128.00 to $123.00 and set an “outperform” rating for the company in a research report on Monday, October 14th. JPMorgan Chase & Co. decreased their target price on shares of Zimmer Biomet from $125.00 to $120.00 and set a “neutral” rating on the stock in a research report on Monday, September 16th. Wells Fargo & Company raised their price objective on shares of Zimmer Biomet from $110.00 to $117.00 and gave the company an “equal weight” rating in a research note on Thursday. Finally, Wolfe Research began coverage on shares of Zimmer Biomet in a research report on Tuesday, September 10th. They set a “peer perform” rating on the stock. 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’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $123.84.

Zimmer Biomet Stock Performance

NYSE:ZBH traded up $0.35 during trading hours on Friday, reaching $107.27. 1,905,699 shares of the company’s stock were exchanged, compared to its average volume of 1,409,299. Zimmer Biomet has a 1-year low of $101.47 and a 1-year 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. The firm has a market capitalization of $21.35 billion, a price-to-earnings ratio of 20.39, a P/E/G ratio of 1.96 and a beta of 1.02. The company has a 50-day moving average of $106.96 and a 200 day moving average of $110.89.

Zimmer Biomet (NYSE:ZBH) last released its quarterly earnings results 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). Zimmer Biomet had a return on equity of 12.95% and a net margin of 14.27%. The company had revenue of $1.82 billion for the quarter, compared to analysts’ expectations of $1.80 billion. During the same period in the prior year, the business earned $1.65 EPS. The business’s quarterly revenue was up 4.1% compared to the same quarter last year. Research analysts anticipate that Zimmer Biomet will post 7.99 EPS for the current year.

Zimmer Biomet Dividend Announcement

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

Hedge Funds Weigh In On Zimmer Biomet

Several hedge funds and other institutional investors have recently modified their holdings of ZBH. Crewe Advisors LLC purchased a new stake in shares of Zimmer Biomet during the 1st quarter valued at about $31,000. Bangor Savings Bank bought a new position in shares of Zimmer Biomet during the third quarter worth about $31,000. Family Firm Inc. acquired a new stake in Zimmer Biomet during the second quarter valued at approximately $33,000. J.Safra Asset Management Corp lifted its holdings in Zimmer Biomet by 712.1% during the 1st quarter. J.Safra Asset Management Corp now owns 268 shares of the medical equipment provider’s stock worth $35,000 after buying an additional 235 shares during the last quarter. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new stake in shares of Zimmer Biomet in the 2nd quarter valued at approximately $43,000. 88.89% of the stock is owned by institutional investors and hedge funds.

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.