Zimmer Biomet (NYSE:ZBH) Price Target Lowered to $120.00 at Citigroup

Zimmer Biomet (NYSE:ZBH) had its price target reduced by Citigroup from $134.00 to $120.00 in a research note published on Wednesday, Benzinga reports. They currently have a neutral rating on the medical equipment provider’s stock.

Several other analysts have also issued reports on the stock. Argus upgraded shares of Zimmer Biomet from a hold rating to a buy rating and set a $150.00 target price on the stock in a research report on Tuesday, May 21st. Evercore ISI reduced their price target on shares of Zimmer Biomet from $130.00 to $115.00 and set an in-line rating on the stock in a research note on Tuesday, July 2nd. Piper Sandler downgraded shares of Zimmer Biomet from an overweight rating to a neutral rating and reduced their price target for the company from $140.00 to $115.00 in a research note on Monday, July 1st. Oppenheimer upped their target price on shares of Zimmer Biomet from $150.00 to $155.00 and gave the stock an outperform rating in a research note on Friday, May 3rd. Finally, Barclays lowered their price target on shares of Zimmer Biomet from $130.00 to $125.00 and set an underweight rating for the company in a report on Friday, May 31st. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and seven 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 target price of $130.59.

Zimmer Biomet Stock Up 1.1 %

ZBH opened at $106.90 on Wednesday. Zimmer Biomet has a fifty-two week low of $102.00 and a fifty-two week high of $144.13. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.80 and a current ratio of 1.66. The company has a fifty day moving average of $113.06 and a two-hundred day moving average of $120.49. The stock has a market capitalization of $21.99 billion, a price-to-earnings ratio of 23.14, a PEG ratio of 1.91 and a beta of 1.01.

Zimmer Biomet (NYSE:ZBH) last released its quarterly earnings data on Thursday, May 2nd. The medical equipment provider reported $1.94 earnings per share for the quarter, beating analysts’ consensus estimates of $1.87 by $0.07. Zimmer Biomet had a net margin of 12.93% and a return on equity of 12.70%. The company had revenue of $1.89 billion during the quarter, compared to analysts’ expectations of $1.87 billion. During the same quarter in the previous year, the company earned $1.89 earnings per share. The firm’s revenue for the quarter was up 3.2% on a year-over-year basis. On average, research analysts expect that Zimmer Biomet will post 8.1 earnings per share for the current year.

Zimmer Biomet Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Wednesday, June 26th will be given a dividend of $0.24 per share. The ex-dividend date of this dividend is Wednesday, June 26th. This represents a $0.96 dividend on an annualized basis and a yield of 0.90%. Zimmer Biomet’s payout ratio is currently 20.78%.

Hedge Funds Weigh In On Zimmer Biomet

A number of large investors have recently bought and sold shares of ZBH. OLD Point Trust & Financial Services N A purchased a new position in Zimmer Biomet during the 4th quarter worth $26,000. Ables Iannone Moore & Associates Inc. purchased a new position in shares of Zimmer Biomet in the 4th quarter valued at about $30,000. Crewe Advisors LLC purchased a new position in shares of Zimmer Biomet in the 1st quarter valued at about $31,000. Naples Money Management LLC purchased a new position in shares of Zimmer Biomet in the 4th quarter valued at about $35,000. Finally, J.Safra Asset Management Corp increased its holdings in shares of 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 purchasing an additional 235 shares in the last quarter. Hedge funds and other institutional investors own 88.89% of the company’s stock.

About Zimmer Biomet

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.