Zimmer Biomet (NYSE:ZBH) Reaches New 1-Year Low at $102.10

Posted by on Jun 21st, 2022

Zimmer Biomet Holdings, Inc. (NYSE:ZBH – Get Rating) hit a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $102.10 and last traded at $102.16, with a volume of 40531 shares changing hands. The stock had previously closed at $102.65.

Several brokerages recently issued reports on ZBH. Loop Capital downgraded Zimmer Biomet from a “buy” rating to a “hold” rating and set a $130.00 price target for the company. in a report on Wednesday, March 2nd. Truist Financial lowered their price target on Zimmer Biomet from $142.00 to $131.00 in a report on Wednesday, May 4th. Bank of America began coverage on Zimmer Biomet in a report on Tuesday, March 1st. They issued an “underperform” rating and a $120.00 price target for the company. Citigroup lowered their price target on Zimmer Biomet from $135.00 to $125.00 and set a “na” rating for the company in a report on Tuesday, May 17th. Finally, StockNews.com downgraded Zimmer Biomet from a “buy” rating to a “hold” rating in a research note on Thursday, May 12th. Two investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, Zimmer Biomet has a consensus rating of “Hold” and a consensus price target of $141.00.

The stock has a fifty day moving average price of $119.16 and a two-hundred day moving average price of $122.12. The company has a market cap of $21.39 billion, a P/E ratio of 99.66, a PEG ratio of 2.46 and a beta of 1.16. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.69 and a quick ratio of 0.89.

Zimmer Biomet (NYSE:ZBH – Get Rating) last released its quarterly earnings results on Tuesday, May 3rd. The medical equipment provider reported $1.61 earnings per share for the quarter, beating analysts’ consensus estimates of $1.40 by $0.21. The company had revenue of $1.66 billion for the quarter, compared to analysts’ expectations of $1.59 billion. Zimmer Biomet had a return on equity of 12.23% and a net margin of 2.85%. The business’s revenue for the quarter was up 3.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.71 earnings per share. As a group, analysts forecast that Zimmer Biomet Holdings, Inc. will post 6.72 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 29th. Stockholders of record on Monday, June 27th will be issued a dividend of $0.24 per share. The ex-dividend date of this dividend is Friday, June 24th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.94%. Zimmer Biomet’s dividend payout ratio (DPR) is presently 93.20%.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Amplius Wealth Advisors LLC acquired a new position in shares of Zimmer Biomet during the fourth quarter valued at approximately $26,000. Motco acquired a new position in shares of Zimmer Biomet during the first quarter valued at approximately $26,000. Cyrus J. Lawrence LLC acquired a new position in shares of Zimmer Biomet during the first quarter valued at approximately $27,000. Widmann Financial Services Inc. acquired a new position in shares of Zimmer Biomet during the fourth quarter valued at approximately $28,000. Finally, HHM Wealth Advisors LLC increased its stake in shares of Zimmer Biomet by 84.0% during the first quarter. HHM Wealth Advisors LLC now owns 219 shares of the medical equipment provider’s stock valued at $28,000 after acquiring an additional 100 shares during the period. Institutional investors and hedge funds own 90.34% of the company’s stock.

About Zimmer Biomet (NYSE:ZBH)

Zimmer Biomet Holdings, Inc, together with its subsidiaries, operates in the musculoskeletal healthcare business in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company designs, manufactures, and markets orthopaedic reconstructive products, such as knee and hip products; S.E.T.

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