Zimmer Biomet (NYSE:ZBH – Free Report) had its target price increased by Truist Financial from $133.00 to $135.00 in a report released on Friday morning, Benzinga reports. Truist Financial currently has a hold rating on the medical equipment provider’s stock.
Several other research analysts have also recently issued reports on the company. Raymond James raised their price objective on Zimmer Biomet from $133.00 to $137.00 and gave the stock an outperform rating in a research note on Wednesday, January 3rd. Morgan Stanley lifted their price target on Zimmer Biomet from $120.00 to $125.00 and gave the company an equal weight rating in a research report on Monday, December 4th. Evercore ISI cut Zimmer Biomet from an outperform rating to an inline rating and reduced their price target for the company from $135.00 to $125.00 in a research report on Thursday, January 4th. Royal Bank of Canada reiterated an outperform rating and set a $140.00 price target on shares of Zimmer Biomet in a research report on Friday. Finally, JPMorgan Chase & Co. lifted their price target on Zimmer Biomet from $115.00 to $125.00 and gave the company a neutral rating in a research report on Friday. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Zimmer Biomet currently has an average rating of Hold and a consensus price target of $138.11.
Zimmer Biomet Trading Down 0.2 %
Zimmer Biomet (NYSE:ZBH – Get Free Report) last announced its quarterly earnings data on Thursday, February 8th. The medical equipment provider reported $2.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.15 by $0.05. Zimmer Biomet had a return on equity of 12.79% and a net margin of 13.85%. The firm had revenue of $1.94 billion during the quarter, compared to analysts’ expectations of $1.93 billion. During the same period last year, the business posted $1.88 earnings per share. The company’s revenue for the quarter was up 6.3% compared to the same quarter last year. Equities analysts predict that Zimmer Biomet will post 8.03 EPS for the current year.
Zimmer Biomet Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Wednesday, January 31st. Stockholders of record on Wednesday, December 27th were paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.78%. The ex-dividend date of this dividend was Tuesday, December 26th. Zimmer Biomet’s dividend payout ratio is presently 19.63%.
Institutional Trading of Zimmer Biomet
A number of institutional investors have recently made changes to their positions in ZBH. Clear Street Markets LLC acquired a new stake in shares of Zimmer Biomet in the fourth quarter worth approximately $27,000. Horizon Bancorp Inc. IN boosted its stake in shares of Zimmer Biomet by 1,483.3% in the second quarter. Horizon Bancorp Inc. IN now owns 190 shares of the medical equipment provider’s stock worth $28,000 after acquiring an additional 178 shares during the last quarter. Lazard Asset Management LLC boosted its stake in shares of Zimmer Biomet by 70.5% in the third quarter. Lazard Asset Management LLC now owns 283 shares of the medical equipment provider’s stock worth $31,000 after acquiring an additional 117 shares during the last quarter. OLD Point Trust & Financial Services N A acquired a new stake in shares of Zimmer Biomet in the second quarter worth approximately $32,000. Finally, Naples Money Management LLC acquired a new position in Zimmer Biomet during the fourth quarter worth $35,000. 87.48% of the stock is owned by institutional investors and hedge funds.
Zimmer Biomet Company Profile
Zimmer Biomet Holdings, Inc, together with its subsidiaries, operates as a medical technology company 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. 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.
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