Zimmer Biomet (NYSE:ZBH) Price Target Raised to $125.00

Zimmer Biomet (NYSE:ZBH) had its price target hoisted by Royal Bank of Canada from $120.00 to $125.00 in a report issued on Monday morning, Benzinga reports. They currently have an outperform rating on the medical equipment provider’s stock.

A number of other equities research analysts have also recently commented on the company. Wells Fargo & Company raised their price objective on Zimmer Biomet from $110.00 to $117.00 and gave the company an “equal weight” rating in a research note on Thursday, October 31st. Raymond James lowered their price objective on shares of Zimmer Biomet from $128.00 to $123.00 and set an “outperform” rating on the stock in a report on Monday, October 14th. Truist Financial boosted their target price on shares of Zimmer Biomet from $112.00 to $117.00 and gave the stock a “hold” rating in a research report on Friday, November 1st. BTIG Research dropped their price target on shares of Zimmer Biomet from $134.00 to $126.00 and set a “buy” rating on the stock in a research report on Thursday, October 3rd. Finally, TD Cowen lowered their price objective on Zimmer Biomet from $143.00 to $119.00 and set a “hold” rating for the company in a research note on Friday, September 6th. Two investment 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.com, the company currently has an average rating of “Hold” and a consensus target price of $124.11.

Zimmer Biomet Price Performance

Shares of NYSE:ZBH opened at $110.20 on Monday. 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 has a 52 week low of $101.47 and a 52 week high of $133.90. The firm has a market cap of $21.94 billion, a PE ratio of 20.95, a price-to-earnings-growth ratio of 1.99 and a beta of 1.02. The firm’s fifty day moving average is $106.64 and its 200-day moving average is $110.58.

Zimmer Biomet (NYSE:ZBH) last released its earnings results on Wednesday, October 30th. The medical equipment provider reported $1.74 earnings per share for the quarter, meeting analysts’ consensus estimates 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 the consensus estimate of $1.80 billion. During the same quarter in the prior year, the firm posted $1.65 EPS. The company’s revenue for the quarter was up 4.1% compared to the same quarter last year. Sell-side analysts predict that Zimmer Biomet will post 7.99 earnings per share for the current year.

Zimmer Biomet Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Investors 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 yield of 0.87%. 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 stock. Ashton Thomas Securities LLC bought a new position in shares of Zimmer Biomet during the third quarter valued at approximately $28,000. Crewe Advisors LLC bought a new stake in Zimmer Biomet in the first quarter worth $31,000. Bangor Savings Bank purchased a new position in shares of Zimmer Biomet in the 3rd quarter worth about $31,000. Family Firm Inc. bought a new position in shares of Zimmer Biomet in the second quarter worth approximately $33,000. Finally, J.Safra Asset Management Corp grew its holdings 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 last quarter. 88.89% of the stock is owned by hedge funds and other institutional investors.

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.