Zimmer Biomet (NYSE:ZBH) Price Target Lowered to $110.00 at Evercore ISI

Zimmer Biomet (NYSE:ZBH) had its target price cut by Evercore ISI from $113.00 to $110.00 in a report published on Tuesday morning, Benzinga reports. They currently have an in-line rating on the medical equipment provider’s stock.

Several other equities analysts have also commented on the stock. Truist Financial reaffirmed a hold rating and issued a $112.00 price objective (down from $117.00) on shares of Zimmer Biomet in a research report on Friday, September 13th. TD Cowen cut their target price on Zimmer Biomet from $143.00 to $119.00 and set a hold rating on the stock in a research report on Friday, September 6th. Canaccord Genuity Group dropped their price target on Zimmer Biomet from $120.00 to $115.00 and set a hold rating on the stock in a research note on Tuesday, September 10th. UBS Group decreased their target price on Zimmer Biomet from $112.00 to $107.00 and set a sell rating for the company in a report on Thursday, August 8th. Finally, Wolfe Research started coverage on shares of Zimmer Biomet in a report on Tuesday, September 10th. They issued a peer perform rating on the stock. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of Hold and a consensus target price of $125.00.

Zimmer Biomet Stock Performance

ZBH stock opened at $107.34 on Tuesday. Zimmer Biomet has a one year low of $102.00 and a one year high of $133.90. The firm has a market cap of $22.08 billion, a price-to-earnings ratio of 23.23, a PEG ratio of 1.98 and a beta of 1.02. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.63 and a current ratio of 1.29. The firm has a 50-day simple moving average of $109.55 and a two-hundred day simple moving average of $114.44.

Zimmer Biomet (NYSE:ZBH) last posted its earnings results on Wednesday, August 7th. The medical equipment provider reported $2.01 EPS for the quarter, beating analysts’ consensus estimates of $1.99 by $0.02. Zimmer Biomet had a net margin of 13.25% and a return on equity of 12.86%. The company had revenue of $1.94 billion during the quarter, compared to analysts’ expectations of $1.94 billion. During the same quarter in the prior year, the company posted $1.82 earnings per share. Zimmer Biomet’s revenue for the quarter was up 3.9% compared to the same quarter last year. On average, equities analysts forecast that Zimmer Biomet will post 8 EPS for the current fiscal year.

Zimmer Biomet Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 30th will be issued a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 0.89%. The ex-dividend date of this dividend is Monday, September 30th. Zimmer Biomet’s payout ratio is presently 20.78%.

Hedge Funds Weigh In On Zimmer Biomet

A number of large investors have recently added to or reduced their stakes in the stock. California State Teachers Retirement System lifted its position in shares of Zimmer Biomet by 1.7% in the fourth quarter. California State Teachers Retirement System now owns 334,880 shares of the medical equipment provider’s stock valued at $40,755,000 after acquiring an additional 5,672 shares in the last quarter. Campbell & CO Investment Adviser LLC lifted its holdings in Zimmer Biomet by 34.5% in the 4th quarter. Campbell & CO Investment Adviser LLC now owns 9,476 shares of the medical equipment provider’s stock valued at $1,153,000 after purchasing an additional 2,433 shares in the last quarter. Jones Financial Companies Lllp boosted its stake in Zimmer Biomet by 22.3% during the 4th quarter. Jones Financial Companies Lllp now owns 2,348 shares of the medical equipment provider’s stock worth $286,000 after purchasing an additional 428 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of Zimmer Biomet by 18.7% during the fourth quarter. The Manufacturers Life Insurance Company now owns 299,155 shares of the medical equipment provider’s stock worth $36,407,000 after buying an additional 47,047 shares in the last quarter. Finally, NEOS Investment Management LLC raised its position in shares of Zimmer Biomet by 32.6% in the fourth quarter. NEOS Investment Management LLC now owns 2,960 shares of the medical equipment provider’s stock valued at $360,000 after buying an additional 727 shares during the last quarter. 88.89% of the stock is currently owned by institutional investors and hedge funds.

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.