Zimmer Biomet (NYSE:ZBH) Given Outperform Rating at Royal Bank of Canada

Royal Bank of Canada restated their outperform rating on shares of Zimmer Biomet (NYSE:ZBHFree Report) in a research note issued to investors on Friday, Benzinga reports. They currently have a $140.00 price objective on the medical equipment provider’s stock.

Several other equities research analysts have also weighed in on ZBH. Morgan Stanley upped their target price on shares of Zimmer Biomet from $120.00 to $125.00 and gave the stock an equal weight rating in a report on Monday, December 4th. Truist Financial upped their target price on shares of Zimmer Biomet from $115.00 to $133.00 and gave the stock a hold rating in a report on Friday, December 22nd. Roth Mkm began coverage on shares of Zimmer Biomet in a report on Friday, October 20th. They issued a neutral rating and a $120.00 target price on the stock. JMP Securities lowered their target price on shares of Zimmer Biomet from $160.00 to $140.00 and set a market outperform rating on the stock in a report on Monday, November 13th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Zimmer Biomet from $146.00 to $115.00 and set a neutral rating on the stock in a report on Wednesday, November 8th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of Hold and an average price target of $138.63.

Get Our Latest Stock Analysis on ZBH

Zimmer Biomet Trading Up 2.5 %

Shares of Zimmer Biomet stock opened at $125.85 on Friday. The firm has a market capitalization of $26.30 billion, a PE ratio of 25.74, a price-to-earnings-growth ratio of 2.23 and a beta of 1.03. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.61 and a quick ratio of 0.78. The company’s fifty day moving average price is $121.57 and its two-hundred day moving average price is $117.25. Zimmer Biomet has a 52-week low of $102.00 and a 52-week high of $149.25.

Zimmer Biomet (NYSE:ZBHGet Free Report) last announced its quarterly earnings results on Thursday, February 8th. The medical equipment provider reported $2.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.15 by $0.05. The firm had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.93 billion. Zimmer Biomet had a net margin of 13.85% and a return on equity of 12.79%. The business’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.88 EPS. On average, analysts expect that Zimmer Biomet will post 8.03 EPS for the current year.

Zimmer Biomet Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 31st. Stockholders of record on Wednesday, December 27th were paid a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 0.76%. The ex-dividend date was Tuesday, December 26th. Zimmer Biomet’s dividend payout ratio (DPR) is presently 19.63%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Clear Street Markets LLC bought a new position in Zimmer Biomet during the 4th quarter worth approximately $27,000. Horizon Bancorp Inc. IN boosted its stake in Zimmer Biomet by 1,483.3% during the 2nd quarter. Horizon Bancorp Inc. IN now owns 190 shares of the medical equipment provider’s stock worth $28,000 after acquiring an additional 178 shares during the last quarter. Lazard Asset Management LLC boosted its stake in Zimmer Biomet by 70.5% during the 3rd quarter. Lazard Asset Management LLC now owns 283 shares of the medical equipment provider’s stock worth $31,000 after acquiring an additional 117 shares during the last quarter. OLD Point Trust & Financial Services N A bought a new position in Zimmer Biomet during the 2nd quarter worth approximately $32,000. Finally, Naples Money Management LLC bought a new position in Zimmer Biomet during the 4th quarter worth approximately $35,000. Institutional investors own 87.48% of the company’s stock.

About Zimmer Biomet

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Zimmer Biomet Holdings, Inc, together with its subsidiaries, operates as a medical technology company in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company designs, manufactures, and markets orthopaedic 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.

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