Zimmer Biomet (NYSE:ZBH) Price Target Lowered to $126.00 at BTIG Research

Zimmer Biomet (NYSE:ZBH) had its price target cut by BTIG Research from $134.00 to $126.00 in a research report sent to investors on Thursday, Benzinga reports. They currently have a buy rating on the medical equipment provider’s stock.

A number of other research firms also recently commented on ZBH. Evercore ISI reduced their price objective on shares of Zimmer Biomet from $113.00 to $110.00 and set an in-line rating for the company in a report on Tuesday. Needham & Company LLC restated a hold rating on shares of Zimmer Biomet in a research note on Tuesday, September 17th. Robert W. Baird reduced their price objective on Zimmer Biomet from $155.00 to $145.00 and set an outperform rating on the stock in a report on Thursday, August 8th. JPMorgan Chase & Co. reduced their target price on shares of Zimmer Biomet from $125.00 to $120.00 and set a neutral rating on the stock in a research note on Monday, September 16th. Finally, Truist Financial reaffirmed a hold rating and set a $112.00 price objective (down from $117.00) on shares of Zimmer Biomet in a research note on Friday, September 13th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of Hold and a consensus target price of $125.05.

Zimmer Biomet Stock Down 1.4 %

NYSE:ZBH opened at $104.19 on Thursday. The business’s fifty day moving average price is $109.33 and its 200 day moving average price is $114.30. The company has a current ratio of 1.29, a quick ratio of 0.63 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $21.22 billion, a price-to-earnings ratio of 22.55, a PEG ratio of 1.94 and a beta of 1.02. Zimmer Biomet has a 1-year low of $102.00 and a 1-year high of $133.90.

Zimmer Biomet (NYSE:ZBH) last issued its quarterly earnings data on Wednesday, August 7th. The medical equipment provider reported $2.01 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $1.94 billion during the quarter, compared to analysts’ expectations of $1.94 billion. During the same period in the prior year, the company posted $1.82 earnings per share. Zimmer Biomet’s revenue for the quarter was up 3.9% on a year-over-year basis. On average, sell-side analysts forecast that Zimmer Biomet will post 8 earnings per share for the current fiscal year.

Zimmer Biomet Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 30th will be issued a dividend of $0.24 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $0.96 annualized dividend and a yield of 0.92%. Zimmer Biomet’s payout ratio is presently 20.78%.

Hedge Funds Weigh In On Zimmer Biomet

Several hedge funds and other institutional investors have recently made changes to their positions in the company. OLD Point Trust & Financial Services N A acquired a new position in shares of Zimmer Biomet during the 4th quarter worth about $26,000. Ables Iannone Moore & Associates Inc. bought a new stake in Zimmer Biomet in the fourth quarter valued at approximately $30,000. Crewe Advisors LLC bought a new position in shares of Zimmer Biomet during the 1st quarter worth approximately $31,000. Family Firm Inc. bought a new position in shares of Zimmer Biomet during the 2nd quarter worth approximately $33,000. Finally, J.Safra Asset Management Corp raised its stake in Zimmer Biomet by 712.1% in the 1st quarter. J.Safra Asset Management Corp now owns 268 shares of the medical equipment provider’s stock valued at $35,000 after acquiring an additional 235 shares during the period. 88.89% of the stock is owned by institutional investors.

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.