Needham & Company LLC Reiterates “Hold” Rating for Zimmer Biomet (NYSE:ZBH)

Needham & Company LLC reiterated their hold rating on shares of Zimmer Biomet (NYSE:ZBH) in a report released on Friday morning,Benzinga reports.

Several other brokerages also recently weighed in on ZBH. Royal Bank of Canada lifted their target price on shares of Zimmer Biomet from $120.00 to $125.00 and gave the company an “outperform” rating in a report on Monday, November 4th. JPMorgan Chase & Co. raised Zimmer Biomet from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $125.00 to $128.00 in a report on Tuesday, December 17th. Oppenheimer cut their target price on Zimmer Biomet from $145.00 to $135.00 and set an “outperform” rating for the company in a research note on Tuesday, October 15th. Truist Financial lifted their price target on Zimmer Biomet from $117.00 to $118.00 and gave the company a “hold” rating in a research note on Wednesday, December 18th. Finally, Wells Fargo & Company increased their price objective on Zimmer Biomet from $110.00 to $117.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 31st. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $124.70.

Zimmer Biomet Stock Down 1.6 %

ZBH stock opened at $101.01 on Friday. The company has a market cap of $20.11 billion, a price-to-earnings ratio of 22.70, a price-to-earnings-growth ratio of 1.83 and a beta of 1.02. The company has a fifty day moving average price of $107.34 and a 200 day moving average price of $108.08. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.91 and a quick ratio of 0.70. Zimmer Biomet has a 12 month low of $99.93 and a 12 month high of $133.90.

Zimmer Biomet (NYSE:ZBH) last announced its earnings results on Thursday, February 6th. The medical equipment provider reported $2.31 earnings per share for the quarter, topping 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 prior year, the business earned $2.20 earnings per share. Sell-side analysts expect that Zimmer Biomet will post 8.25 earnings per share for the current year.

Zimmer Biomet Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Monday, December 30th were paid a dividend of $0.24 per share. The ex-dividend date of this dividend was Monday, December 30th. This represents a $0.96 annualized dividend and a yield of 0.95%. Zimmer Biomet’s dividend payout ratio (DPR) is 21.57%.

Institutional Trading of Zimmer Biomet

Several hedge funds have recently made changes to their positions in the stock. Equity Investment Corp bought a new stake in shares of Zimmer Biomet during the third quarter valued at approximately $70,104,000. Hotchkis & Wiley Capital Management LLC raised its stake in Zimmer Biomet by 49.1% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 1,752,298 shares of the medical equipment provider’s stock valued at $189,161,000 after acquiring an additional 577,320 shares in the last quarter. Van ECK Associates Corp boosted its position in Zimmer Biomet by 12.4% during the 3rd quarter. Van ECK Associates Corp now owns 3,736,761 shares of the medical equipment provider’s stock worth $391,239,000 after acquiring an additional 411,163 shares during the period. Thompson Siegel & Walmsley LLC bought a new position in shares of Zimmer Biomet in the third quarter worth $41,588,000. Finally, Raymond James Financial Inc. acquired a new position in shares of Zimmer Biomet during the fourth quarter valued at $21,234,000. Institutional investors 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.