Zimmer Biomet (NYSE:ZBH) Price Target Increased to $135.00 by Analysts at Truist Financial

Zimmer Biomet (NYSE:ZBHFree Report) had its target price boosted by Truist Financial from $133.00 to $135.00 in a research note released on Friday morning, Benzinga reports. The brokerage currently has a hold rating on the medical equipment provider’s stock.

Other equities research analysts also recently issued reports about the company. JPMorgan Chase & Co. increased their price target on Zimmer Biomet from $115.00 to $125.00 and gave the stock a neutral rating in a research report on Friday. JMP Securities cut their price target on shares of Zimmer Biomet from $160.00 to $140.00 and set a market outperform rating for the company in a report on Monday, November 13th. Morgan Stanley lifted their target price on shares of Zimmer Biomet from $120.00 to $125.00 and gave the company an equal weight rating in a report on Monday, December 4th. Roth Mkm began coverage on shares of Zimmer Biomet in a research report on Friday, October 20th. They set a neutral rating and a $120.00 price objective for the company. Finally, Royal Bank of Canada reissued an outperform rating and issued a $140.00 price target on shares of Zimmer Biomet in a research report on Friday. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of Hold and an average price target of $138.63.

Check Out Our Latest Report on Zimmer Biomet

Zimmer Biomet Trading Up 2.5 %

ZBH stock opened at $125.85 on Friday. Zimmer Biomet has a 1-year low of $102.00 and a 1-year high of $149.25. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.61 and a quick ratio of 0.78. The company has a market capitalization of $26.30 billion, a price-to-earnings ratio of 25.74, a PEG ratio of 2.23 and a beta of 1.03. The business has a 50 day simple moving average of $121.57 and a two-hundred day simple moving average of $117.25.

Zimmer Biomet (NYSE:ZBHGet Free Report) last released its quarterly earnings results on Thursday, February 8th. The medical equipment provider reported $2.20 earnings per share for the quarter, beating the consensus estimate of $2.15 by $0.05. The company had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.93 billion. Zimmer Biomet had a return on equity of 12.79% and a net margin of 13.85%. Zimmer Biomet’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.88 EPS. Research analysts anticipate that Zimmer Biomet will post 8.03 EPS for the current fiscal year.

Zimmer Biomet Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 31st. Investors of record on Wednesday, December 27th were given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 0.76%. The ex-dividend date was Tuesday, December 26th. Zimmer Biomet’s dividend payout ratio (DPR) is 19.63%.

Institutional Investors Weigh In On Zimmer Biomet

A number of large investors have recently added to or reduced their stakes in ZBH. Vanguard Group Inc. lifted its position in shares of Zimmer Biomet by 19.0% in the 1st quarter. Vanguard Group Inc. now owns 23,102,761 shares of the medical equipment provider’s stock worth $2,954,843,000 after buying an additional 3,695,510 shares during the last quarter. Norges Bank acquired a new position in shares of Zimmer Biomet in the 4th quarter worth approximately $266,896,000. Moneta Group Investment Advisors LLC lifted its holdings in shares of Zimmer Biomet by 92,041.0% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 1,841,898 shares of the medical equipment provider’s stock valued at $234,842,000 after purchasing an additional 1,839,899 shares in the last quarter. Morgan Stanley lifted its stake in Zimmer Biomet by 80.5% in the 4th quarter. Morgan Stanley now owns 3,102,429 shares of the medical equipment provider’s stock worth $395,560,000 after acquiring an additional 1,384,068 shares in the last quarter. Finally, Victory Capital Management Inc. increased its position in Zimmer Biomet by 657.0% in the 4th quarter. Victory Capital Management Inc. now owns 1,393,963 shares of the medical equipment provider’s stock worth $177,730,000 after purchasing an additional 1,209,827 shares during the last quarter. 87.48% of the stock is owned by institutional investors and hedge funds.

About Zimmer Biomet

(Get Free Report)

Zimmer Biomet Holdings, Inc, together with its subsidiaries, operates as a medical technology company in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company designs, manufactures, and markets orthopaedic 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.

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