Zimmer Biomet (NYSE:ZBH) Hits New 12-Month Low – Time to Sell?

Zimmer Biomet Holdings, Inc. (NYSE:ZBH) reached a new 52-week low on Tuesday . The stock traded as low as $97.51 and last traded at $97.68, with a volume of 1152129 shares trading hands. The stock had previously closed at $101.97.

Analysts Set New Price Targets

A number of equities analysts have issued reports on ZBH shares. Barclays decreased their price objective on Zimmer Biomet from $118.00 to $112.00 and set an “underweight” rating for the company in a report on Monday, February 10th. Royal Bank of Canada lowered their price target on shares of Zimmer Biomet from $130.00 to $125.00 and set an “outperform” rating for the company in a research report on Friday, February 7th. Needham & Company LLC reaffirmed a “hold” rating on shares of Zimmer Biomet in a research note on Friday, February 7th. BTIG Research restated a “buy” rating on shares of Zimmer Biomet in a research note on Monday. Finally, Truist Financial reiterated a “hold” rating and set a $113.00 price objective (down previously from $118.00) on shares of Zimmer Biomet in a research note on Monday, February 10th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, Zimmer Biomet has a consensus rating of “Hold” and a consensus price target of $124.15.

Zimmer Biomet Price Performance

The firm has a 50-day moving average of $106.00 and a 200-day moving average of $106.85. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.91 and a quick ratio of 0.99. The stock has a market cap of $19.37 billion, a PE ratio of 22.00, a PEG ratio of 1.95 and a beta of 0.84.

Zimmer Biomet (NYSE:ZBH) last released its quarterly earnings data on Thursday, February 6th. The medical equipment provider reported $2.31 earnings per share (EPS) for the quarter, beating the consensus estimate 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. Research analysts predict that Zimmer Biomet Holdings, Inc. will post 8.22 EPS for the current year.

Zimmer Biomet Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be given a $0.24 dividend. The ex-dividend date is Monday, March 31st. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.98%. Zimmer Biomet’s dividend payout ratio is currently 21.57%.

Insider Activity at Zimmer Biomet

In other Zimmer Biomet news, SVP Lori Winkler sold 1,443 shares of Zimmer Biomet stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $104.40, for a total value of $150,649.20. Following the completion of the transaction, the senior vice president now directly owns 8,768 shares of the company’s stock, valued at $915,379.20. This trade represents a 14.13 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 0.95% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Zimmer Biomet

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ZBH. Dodge & Cox raised its holdings in Zimmer Biomet by 12.0% during the 4th quarter. Dodge & Cox now owns 19,118,436 shares of the medical equipment provider’s stock valued at $2,019,480,000 after buying an additional 2,044,645 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in Zimmer Biomet by 1.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 14,760,444 shares of the medical equipment provider’s stock worth $1,559,147,000 after purchasing an additional 176,337 shares in the last quarter. Van ECK Associates Corp raised its stake in shares of Zimmer Biomet by 5.9% during the 4th quarter. Van ECK Associates Corp now owns 3,955,449 shares of the medical equipment provider’s stock worth $417,814,000 after acquiring an additional 218,688 shares in the last quarter. Franklin Resources Inc. grew its holdings in Zimmer Biomet by 398.7% in the fourth quarter. Franklin Resources Inc. now owns 3,497,764 shares of the medical equipment provider’s stock worth $369,469,000 after purchasing an additional 2,796,372 shares during the last quarter. Finally, Northern Trust Corp lifted its holdings in shares of Zimmer Biomet by 7.6% during the 4th quarter. Northern Trust Corp now owns 2,370,224 shares of the medical equipment provider’s stock valued at $250,367,000 after purchasing an additional 167,435 shares during the last quarter. 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.