Zimmer Biomet (NYSE:ZBH) Given Hold Rating at Needham & Company LLC

Needham & Company LLC restated their hold rating on shares of Zimmer Biomet (NYSE:ZBH) in a research report sent to investors on Friday,Benzinga reports.

Several other research firms also recently commented on ZBH. Truist Financial upped their price target on shares of Zimmer Biomet from $117.00 to $118.00 and gave the company a “hold” rating in a research report on Wednesday, December 18th. Raymond James decreased their price target on Zimmer Biomet from $128.00 to $123.00 and set an “outperform” rating on the stock in a research note on Monday, October 14th. Wells Fargo & Company upped their target price on shares of Zimmer Biomet from $110.00 to $117.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 31st. Stifel Nicolaus raised their price target on Zimmer Biomet from $130.00 to $138.00 and gave the company a “buy” rating in a research report on Thursday, January 23rd. Finally, Royal Bank of Canada lifted their price objective on Zimmer Biomet from $120.00 to $125.00 and gave the stock an “outperform” rating in a research report on Monday, November 4th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $124.70.

Zimmer Biomet Price Performance

Shares of ZBH opened at $101.01 on Friday. Zimmer Biomet has a twelve month low of $99.93 and a twelve month high of $133.90. The company has a current ratio of 1.91, a quick ratio of 0.70 and a debt-to-equity ratio of 0.43. The firm has a market capitalization of $20.11 billion, a price-to-earnings ratio of 22.70, a PEG ratio of 1.83 and a beta of 1.02. The firm’s fifty day simple moving average is $107.56 and its 200-day simple moving average is $108.16.

Zimmer Biomet (NYSE:ZBH) last released its quarterly earnings data on Thursday, February 6th. The medical equipment provider reported $2.31 earnings per share for the quarter, topping analysts’ consensus estimates of $2.30 by $0.01. Zimmer Biomet had a net margin of 11.77% and a return on equity of 12.99%. During the same quarter in the previous year, the company earned $2.20 EPS. Equities analysts forecast that Zimmer Biomet will post 8.25 EPS for the current fiscal year.

Zimmer Biomet Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Monday, December 30th were issued a $0.24 dividend. The ex-dividend date of this dividend was Monday, December 30th. This represents a $0.96 annualized dividend and a yield of 0.95%. Zimmer Biomet’s payout ratio is 21.57%.

Institutional Investors Weigh In On Zimmer Biomet

Several institutional investors have recently bought and sold shares of ZBH. Geode Capital Management LLC raised its position in Zimmer Biomet by 2.6% in the third quarter. Geode Capital Management LLC now owns 4,879,385 shares of the medical equipment provider’s stock valued at $524,942,000 after purchasing an additional 125,852 shares during the period. M&T Bank Corp increased its stake in 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 valued at $2,884,000 after purchasing an additional 8,709 shares during the last quarter. Peddock Capital Advisors LLC bought a new stake in shares of Zimmer Biomet during the 4th quarter valued at about $654,000. National Pension Service raised its position in shares of Zimmer Biomet by 3.8% during the 3rd quarter. National Pension Service now owns 369,547 shares of the medical equipment provider’s stock worth $39,893,000 after purchasing an additional 13,612 shares during the period. Finally, River Global Investors LLP increased its position in Zimmer Biomet by 31.3% in the third quarter. River Global Investors LLP now owns 21,084 shares of the medical equipment provider’s stock worth $2,276,000 after buying an additional 5,030 shares during the period. 88.89% of the stock is currently owned by hedge funds and other institutional investors.

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.