Zimmer Biomet (NYSE:ZBH) Hits New 1-Year Low on Analyst Downgrade

Zimmer Biomet Holdings, Inc. (NYSE:ZBH) shares hit a new 52-week low on Friday after Royal Bank of Canada lowered their price target on the stock from $130.00 to $125.00. Royal Bank of Canada currently has an outperform rating on the stock. Zimmer Biomet traded as low as $99.93 and last traded at $100.63, with a volume of 1883257 shares. The stock had previously closed at $102.69.

Several other research firms have also commented on ZBH. Stifel Nicolaus increased their price target on shares of Zimmer Biomet from $130.00 to $138.00 and gave the company a “buy” rating in a research report on Thursday, January 23rd. Truist Financial increased their price target on shares of Zimmer Biomet from $117.00 to $118.00 and gave the company a “hold” rating in a research report on Wednesday, December 18th. Barclays lowered their price target on shares of Zimmer Biomet from $125.00 to $118.00 and set an “underweight” rating on the stock in a research report on Thursday, December 12th. Oppenheimer lowered 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. Finally, Wells Fargo & Company increased their price target on shares of Zimmer Biomet from $110.00 to $117.00 and gave the company an “equal weight” rating in a research report on Thursday, October 31st. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $124.70.

Hedge Funds Weigh In On Zimmer Biomet

Large investors have recently bought and sold shares of the stock. Dunhill Financial LLC raised its stake in Zimmer Biomet by 1,090.0% during the third quarter. Dunhill Financial LLC now owns 238 shares of the medical equipment provider’s stock worth $26,000 after purchasing an additional 218 shares during the period. Stonebridge Financial Group LLC purchased a new position in Zimmer Biomet during the fourth quarter worth approximately $25,000. Ashton Thomas Securities LLC purchased a new position in Zimmer Biomet during the third quarter worth approximately $28,000. Brooklyn Investment Group purchased a new position in shares of Zimmer Biomet in the 3rd quarter valued at $35,000. Finally, Kentucky Trust Co purchased a new position in shares of Zimmer Biomet in the 4th quarter valued at $39,000. Hedge funds and other institutional investors own 88.89% of the company’s stock.

Zimmer Biomet Stock Performance

The stock’s 50 day moving average price is $107.56 and its 200 day moving average price is $108.16. The company has a current ratio of 1.36, a quick ratio of 0.70 and a debt-to-equity ratio of 0.38. The firm has a market cap of $20.11 billion, a PE ratio of 19.20, a P/E/G ratio of 1.88 and a beta of 1.02.

Zimmer Biomet (NYSE:ZBH) last issued its earnings results on Thursday, February 6th. The medical equipment provider reported $2.31 EPS for the quarter, beating analysts’ consensus estimates of $2.30 by $0.01. Zimmer Biomet had a net margin of 14.27% and a return on equity of 12.95%. During the same period in the prior year, the firm posted $2.20 EPS. As a group, equities analysts forecast that Zimmer Biomet Holdings, Inc. will post 7.99 earnings per share for the current fiscal year.

Zimmer Biomet Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Monday, December 30th were paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.95%. The ex-dividend date of this dividend was Monday, December 30th. Zimmer Biomet’s dividend payout ratio is presently 18.25%.

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.