Zimmer Biomet’s (ZBH) “Hold” Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC reiterated their hold rating on shares of Zimmer Biomet (NYSE:ZBH) in a research note published on Thursday, Benzinga reports.

A number of other equities analysts have also weighed in on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Zimmer Biomet from $115.00 to $125.00 and gave the company a neutral rating in a research report on Friday, February 9th. StockNews.com downgraded Zimmer Biomet from a strong-buy rating to a buy rating in a report on Monday, February 19th. Truist Financial raised their price objective on Zimmer Biomet from $133.00 to $135.00 and gave the stock a hold rating in a report on Friday, February 9th. Citigroup upped their target price on Zimmer Biomet from $134.00 to $140.00 and gave the company a neutral rating in a research note on Wednesday, April 3rd. Finally, TheStreet raised Zimmer Biomet from a c rating to a b- rating in a research note on Thursday, February 8th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, Zimmer Biomet currently has an average rating of Hold and a consensus price target of $135.40.

Zimmer Biomet Price Performance

ZBH traded up $3.20 during midday trading on Thursday, reaching $121.66. 1,847,585 shares of the company’s stock were exchanged, compared to its average volume of 1,304,580. Zimmer Biomet has a 1-year low of $102.00 and a 1-year high of $147.50. The stock has a market capitalization of $25.00 billion, a PE ratio of 26.34, a P/E/G ratio of 2.17 and a beta of 1.03. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.66 and a quick ratio of 0.78. The business’s 50-day moving average price is $125.45 and its 200 day moving average price is $119.90.

Zimmer Biomet (NYSE:ZBH) last released its quarterly earnings results on Thursday, May 2nd. The medical equipment provider reported $1.94 earnings per share for the quarter, topping analysts’ consensus estimates of $1.87 by $0.07. The company had revenue of $1.89 billion during the quarter, compared to analysts’ expectations of $1.87 billion. Zimmer Biomet had a return on equity of 12.70% and a net margin of 12.93%. During the same period in the previous year, the firm posted $1.89 earnings per share. The business’s revenue for the quarter was up 3.2% compared to the same quarter last year. As a group, equities analysts anticipate that Zimmer Biomet will post 8.08 EPS for the current fiscal year.

Zimmer Biomet Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 30th. Shareholders of record on Friday, March 29th were given a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 0.79%. The ex-dividend date of this dividend was Wednesday, March 27th. Zimmer Biomet’s dividend payout ratio (DPR) is presently 20.78%.

Insider Activity at Zimmer Biomet

In other Zimmer Biomet news, VP Chad F. Phipps sold 26,156 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $128.62, for a total transaction of $3,364,184.72. Following the completion of the sale, the vice president now owns 44,145 shares in the company, valued at approximately $5,677,929.90. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 0.95% of the company’s stock.

Institutional Investors Weigh In On Zimmer Biomet

A number of institutional investors have recently modified their holdings of the stock. Norges Bank bought a new stake in Zimmer Biomet in the fourth quarter valued at about $266,896,000. American Century Companies Inc. grew its position in shares of Zimmer Biomet by 21.2% in the 3rd quarter. American Century Companies Inc. now owns 4,863,741 shares of the medical equipment provider’s stock worth $545,809,000 after acquiring an additional 852,186 shares in the last quarter. Boston Partners increased its holdings in shares of Zimmer Biomet by 29.2% in the 3rd quarter. Boston Partners now owns 2,694,832 shares of the medical equipment provider’s stock valued at $302,366,000 after acquiring an additional 608,959 shares during the last quarter. Barclays PLC raised its position in shares of Zimmer Biomet by 129.2% during the 3rd quarter. Barclays PLC now owns 1,072,494 shares of the medical equipment provider’s stock valued at $120,356,000 after acquiring an additional 604,652 shares in the last quarter. Finally, Van ECK Associates Corp lifted its stake in Zimmer Biomet by 23.7% during the fourth quarter. Van ECK Associates Corp now owns 2,838,558 shares of the medical equipment provider’s stock worth $345,452,000 after purchasing an additional 543,344 shares during the last quarter. Institutional investors and hedge funds own 88.89% of the company’s stock.

Zimmer Biomet Company Profile

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.