Zimmer Biomet (NYSE:ZBH) Price Target Lowered to $123.00 at Raymond James

Zimmer Biomet (NYSE:ZBH) had its target price decreased by Raymond James from $128.00 to $123.00 in a research note issued to investors on Monday, Benzinga reports. Raymond James currently has an outperform rating on the medical equipment provider’s stock.

Other analysts also recently issued research reports about the stock. Piper Sandler downgraded shares of Zimmer Biomet from an overweight rating to a neutral rating and decreased their price objective for the stock from $140.00 to $115.00 in a report on Monday, July 1st. Robert W. Baird decreased their target price on shares of Zimmer Biomet from $155.00 to $145.00 and set an outperform rating on the stock in a research report on Thursday, August 8th. Needham & Company LLC reissued a hold rating on shares of Zimmer Biomet in a research note on Tuesday, September 17th. Wolfe Research assumed coverage on shares of Zimmer Biomet in a research note on Tuesday, September 10th. They issued a peer perform rating on the stock. Finally, UBS Group decreased their price objective on shares of Zimmer Biomet from $112.00 to $107.00 and set a sell rating for the company in a research report on Thursday, August 8th. Two investment 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 MarketBeat, Zimmer Biomet currently has a consensus rating of Hold and an average target price of $124.26.

Zimmer Biomet Trading Up 1.3 %

Shares of Zimmer Biomet stock opened at $104.88 on Monday. Zimmer Biomet has a 1-year low of $101.47 and a 1-year high of $133.90. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.29 and a quick ratio of 0.63. The stock has a market cap of $21.58 billion, a P/E ratio of 22.70, a P/E/G ratio of 1.89 and a beta of 1.02. The stock’s 50 day simple moving average is $108.33 and its 200-day simple moving average is $112.88.

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 for 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. Analysts predict that Zimmer Biomet will post 8 EPS for the current fiscal year.

Zimmer Biomet Announces Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend is Monday, September 30th. This represents a $0.96 dividend on an annualized basis and a yield of 0.92%. Zimmer Biomet’s dividend payout ratio is presently 20.78%.

Institutional Investors Weigh In On Zimmer Biomet

Hedge funds and other institutional investors have recently bought and sold shares of the company. Crewe Advisors LLC bought a new position in Zimmer Biomet in the 1st quarter valued at about $31,000. Bangor Savings Bank bought a new stake in Zimmer Biomet in the 3rd quarter valued at $31,000. Family Firm Inc. acquired a new position in Zimmer Biomet in the 2nd quarter valued at $33,000. J.Safra Asset Management Corp increased its position in Zimmer Biomet by 712.1% during the 1st quarter. J.Safra Asset Management Corp now owns 268 shares of the medical equipment provider’s stock worth $35,000 after buying an additional 235 shares during the period. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new stake in shares of Zimmer Biomet during the second quarter worth $43,000. 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.