Truist Financial Issues Positive Forecast for Zimmer Biomet (NYSE:ZBH) Stock Price

Zimmer Biomet (NYSE:ZBH) had its target price raised by Truist Financial from $117.00 to $118.00 in a research report report published on Wednesday morning,Benzinga reports. Truist Financial currently has a hold rating on the medical equipment provider’s stock.

A number of other research firms also recently weighed in on ZBH. Wolfe Research initiated coverage on Zimmer Biomet in a research report on Tuesday, September 10th. They set a “peer perform” rating for the company. Raymond James decreased their target price on shares of Zimmer Biomet from $128.00 to $123.00 and set an “outperform” rating for the company in a research report on Monday, October 14th. Canaccord Genuity Group cut their price target on shares of Zimmer Biomet from $120.00 to $115.00 and set a “hold” rating on the stock in a research report on Tuesday, September 10th. Oppenheimer lowered their target price on Zimmer Biomet from $145.00 to $135.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 15th. Finally, Royal Bank of Canada increased their price target on Zimmer Biomet from $120.00 to $125.00 and gave the company an “outperform” rating in a research report on Monday, November 4th. Two 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 stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $123.33.

Zimmer Biomet Stock Down 2.0 %

Shares of ZBH stock opened at $105.86 on Wednesday. Zimmer Biomet has a 12-month low of $101.47 and a 12-month high of $133.90. The company has a quick ratio of 0.70, a current ratio of 1.36 and a debt-to-equity ratio of 0.38. The firm has a fifty day moving average of $107.95 and a 200-day moving average of $108.53. The company has a market capitalization of $21.07 billion, a price-to-earnings ratio of 20.13, a P/E/G ratio of 1.96 and a beta of 1.02.

Zimmer Biomet (NYSE:ZBH) last released its earnings results on Wednesday, October 30th. The medical equipment provider reported $1.74 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.74. The firm had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $1.80 billion. Zimmer Biomet had a return on equity of 12.95% and a net margin of 14.27%. The company’s revenue was up 4.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.65 EPS. As a group, equities research analysts predict that Zimmer Biomet will post 7.99 earnings per share for the current fiscal year.

Zimmer Biomet Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Monday, December 30th will be issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 0.91%. Zimmer Biomet’s dividend payout ratio (DPR) is currently 18.25%.

Institutional Investors Weigh In On Zimmer Biomet

A number of large investors have recently bought and sold shares of the company. Assenagon Asset Management S.A. increased its position in Zimmer Biomet by 3.5% during the 2nd quarter. Assenagon Asset Management S.A. now owns 24,286 shares of the medical equipment provider’s stock worth $2,636,000 after purchasing an additional 815 shares in the last quarter. Raymond James & Associates boosted its position in Zimmer Biomet by 4.9% during the 2nd quarter. Raymond James & Associates now owns 108,105 shares of the medical equipment provider’s stock worth $11,733,000 after buying an additional 5,039 shares during the period. Atria Wealth Solutions Inc. increased its position in Zimmer Biomet by 4.0% in the 2nd quarter. Atria Wealth Solutions Inc. now owns 16,063 shares of the medical equipment provider’s stock valued at $1,746,000 after acquiring an additional 617 shares during the period. Fifth Third Wealth Advisors LLC bought a new position in shares of Zimmer Biomet during the second quarter valued at $283,000. Finally, &PARTNERS bought a new stake in shares of Zimmer Biomet in the second quarter worth $293,000. 88.89% of the stock is currently 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.