Zimmer Biomet (NYSE:ZBH) Hits New 12-Month Low – What’s Next?

Zimmer Biomet Holdings, Inc. (NYSE:ZBH) shares reached a new 52-week low during trading on Wednesday . The company traded as low as $101.04 and last traded at $101.72, with a volume of 79557 shares trading hands. The stock had previously closed at $103.13.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Barclays decreased their price target on Zimmer Biomet from $125.00 to $118.00 and set an “underweight” rating for the company in a research note on Thursday, December 12th. Wolfe Research started coverage on shares of Zimmer Biomet in a research note on Tuesday, September 10th. They set a “peer perform” rating for the company. Evercore ISI cut their price target on shares of Zimmer Biomet from $113.00 to $110.00 and set an “in-line” rating on the stock in a report on Tuesday, October 1st. Royal Bank of Canada lifted their price objective on shares of Zimmer Biomet from $120.00 to $125.00 and gave the company an “outperform” rating in a report on Monday, November 4th. Finally, JPMorgan Chase & Co. upgraded shares of Zimmer Biomet from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $125.00 to $128.00 in a research note on Tuesday, December 17th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, Zimmer Biomet presently has a consensus rating of “Hold” and a consensus target price of $123.33.

Zimmer Biomet Stock Down 1.0 %

The business has a 50 day moving average of $108.36 and a two-hundred day moving average of $108.14. The stock has a market capitalization of $20.32 billion, a PE ratio of 19.40, a PEG ratio of 1.96 and a beta of 1.02. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.70 and a current ratio of 1.36.

Zimmer Biomet (NYSE:ZBH) last released its quarterly earnings results on Wednesday, October 30th. The medical equipment provider reported $1.74 EPS for the quarter, meeting the consensus estimate of $1.74. Zimmer Biomet had a net margin of 14.27% and a return on equity of 12.95%. The business 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 firm posted $1.65 earnings per share. The company’s quarterly revenue was up 4.1% on a year-over-year basis. Analysts predict that Zimmer Biomet Holdings, Inc. will post 7.99 EPS for the current year.

Zimmer Biomet Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Monday, December 30th will be issued a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 0.94%. The ex-dividend date of this dividend is Monday, December 30th. 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. Dunhill Financial LLC increased its position in shares of Zimmer Biomet by 1,090.0% in the 3rd quarter. Dunhill Financial LLC now owns 238 shares of the medical equipment provider’s stock valued at $26,000 after acquiring an additional 218 shares during the period. Ashton Thomas Securities LLC purchased a new stake in Zimmer Biomet during the 3rd quarter valued at about $28,000. Bangor Savings Bank acquired a new position in shares of Zimmer Biomet in the third quarter valued at about $31,000. Brooklyn Investment Group purchased a new position in shares of Zimmer Biomet in the third quarter worth about $35,000. Finally, Quarry LP acquired a new stake in shares of Zimmer Biomet during the second quarter worth about $53,000. 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.