Zimmer Biomet (NYSE:ZBH) Price Target Raised to $138.00

Zimmer Biomet (NYSE:ZBH) had its target price hoisted by Stifel Nicolaus from $130.00 to $138.00 in a research report sent to investors on Thursday morning,Benzinga reports. The firm currently has a buy rating on the medical equipment provider’s stock.

A number of other research analysts also recently weighed in on ZBH. Wells Fargo & Company raised their price target on Zimmer Biomet from $110.00 to $117.00 and gave the company an “equal weight” rating in a research note on Thursday, October 31st. Royal Bank of Canada raised their target price on shares of Zimmer Biomet from $120.00 to $125.00 and gave the company an “outperform” rating in a research note on Monday, November 4th. Oppenheimer dropped their price target on shares of Zimmer Biomet from $145.00 to $135.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 15th. Raymond James decreased their price objective on shares of Zimmer Biomet from $128.00 to $123.00 and set an “outperform” rating for the company in a research report on Monday, October 14th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Zimmer Biomet in a report on Thursday, October 31st. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and nine have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $124.11.

Zimmer Biomet Stock Down 0.2 %

ZBH stock opened at $110.78 on Thursday. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.36 and a quick ratio of 0.70. The stock has a market capitalization of $22.05 billion, a P/E ratio of 21.06, a P/E/G ratio of 1.88 and a beta of 1.02. Zimmer Biomet has a fifty-two week low of $100.67 and a fifty-two week high of $133.90. The business has a 50-day moving average of $107.86 and a 200-day moving average of $108.12.

Zimmer Biomet (NYSE:ZBH) last released its earnings results on Wednesday, October 30th. The medical equipment provider reported $1.74 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.74. Zimmer Biomet had a net margin of 14.27% and a return on equity of 12.95%. The business had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.80 billion. During the same quarter last year, the firm earned $1.65 earnings per share. The firm’s revenue for the quarter was up 4.1% compared to the same quarter last year. On average, sell-side analysts anticipate that Zimmer Biomet will post 7.99 earnings per share for the current fiscal year.

Zimmer Biomet Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Monday, December 30th will be issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 0.87%. The ex-dividend date is Monday, December 30th. Zimmer Biomet’s dividend payout ratio (DPR) is presently 18.25%.

Hedge Funds Weigh In On Zimmer Biomet

Several institutional investors and hedge funds have recently added to or reduced their stakes in ZBH. Geode Capital Management LLC increased its holdings in shares of Zimmer Biomet by 2.6% during the third quarter. Geode Capital Management LLC now owns 4,879,385 shares of the medical equipment provider’s stock worth $524,942,000 after buying an additional 125,852 shares in the last quarter. Van ECK Associates Corp increased its holdings in Zimmer Biomet by 12.4% in 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 purchasing an additional 411,163 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of Zimmer Biomet by 0.4% during the third quarter. Allspring Global Investments Holdings LLC now owns 2,569,311 shares of the medical equipment provider’s stock valued at $277,357,000 after purchasing an additional 9,990 shares in the last quarter. Hotchkis & Wiley Capital Management LLC grew its holdings in shares of Zimmer Biomet by 49.1% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 1,752,298 shares of the medical equipment provider’s stock worth $189,161,000 after purchasing an additional 577,320 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA increased its stake in shares of Zimmer Biomet by 0.4% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,006,217 shares of the medical equipment provider’s stock valued at $108,621,000 after buying an additional 4,388 shares during the period. 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.