Brokerages Set Zimmer Biomet Holdings, Inc. (NYSE:ZBH) Price Target at $123.22

Zimmer Biomet Holdings, Inc. (NYSE:ZBH) has earned a consensus recommendation of “Hold” from the twenty brokerages that are currently covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, twelve have given a hold recommendation and six have issued a buy recommendation on the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $123.22.

Several equities research analysts have issued reports on ZBH shares. Raymond James lowered their target price on shares of Zimmer Biomet from $128.00 to $123.00 and set an “outperform” rating on the stock in a research note on Monday, October 14th. Evercore ISI lowered their target price on shares of Zimmer Biomet from $113.00 to $110.00 and set an “in-line” rating on the stock in a research note on Tuesday, October 1st. Needham & Company LLC reaffirmed a “hold” rating on shares of Zimmer Biomet in a research note on Thursday, October 31st. Wolfe Research assumed coverage on shares of Zimmer Biomet in a research report on Tuesday, September 10th. They set a “peer perform” rating on the stock. Finally, Truist Financial boosted their price target on shares of Zimmer Biomet from $112.00 to $117.00 and gave the company a “hold” rating in a research report on Friday, November 1st.

Institutional Trading of Zimmer Biomet

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Toronto Dominion Bank increased its stake in Zimmer Biomet by 14.5% during the third quarter. Toronto Dominion Bank now owns 68,747 shares of the medical equipment provider’s stock worth $7,421,000 after purchasing an additional 8,710 shares during the period. Neo Ivy Capital Management acquired a new position in shares of Zimmer Biomet during the third quarter worth about $150,000. Brown Financial Advisors grew its position in shares of Zimmer Biomet by 16.6% during the third quarter. Brown Financial Advisors now owns 9,566 shares of the medical equipment provider’s stock worth $1,033,000 after buying an additional 1,361 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Zimmer Biomet by 2.6% during the third quarter. Geode Capital Management LLC now owns 4,879,385 shares of the medical equipment provider’s stock worth $524,942,000 after buying an additional 125,852 shares in the last quarter. Finally, M&T Bank Corp grew its position in shares of Zimmer Biomet by 48.4% during the third quarter. M&T Bank Corp now owns 26,719 shares of the medical equipment provider’s stock worth $2,884,000 after buying an additional 8,709 shares in the last quarter. 88.89% of the stock is currently owned by hedge funds and other institutional investors.

Zimmer Biomet Price Performance

Zimmer Biomet stock opened at $113.02 on Friday. The company’s fifty day moving average price is $106.45 and its 200 day moving average price is $109.94. Zimmer Biomet has a 1 year low of $101.47 and a 1 year high of $133.90. The stock has a market capitalization of $22.50 billion, a P/E ratio of 21.49, a P/E/G ratio of 2.07 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 earnings per share (EPS) 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 firm had revenue of $1.82 billion for the quarter, compared to analysts’ expectations of $1.80 billion. During the same quarter last year, the company earned $1.65 EPS. The firm’s revenue for the quarter was up 4.1% compared to the same quarter last year. As a group, equities research analysts anticipate that Zimmer Biomet will post 7.99 earnings per share for the current fiscal year.

Zimmer Biomet Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Monday, September 30th were issued a $0.24 dividend. The ex-dividend date was Monday, September 30th. This represents a $0.96 annualized dividend and a yield of 0.85%. Zimmer Biomet’s dividend payout ratio (DPR) is currently 18.25%.

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.