Zimmer Biomet’s (ZBH) “Hold” Rating Reiterated at Needham & Company LLC

Needham & Company LLC reissued their hold rating on shares of Zimmer Biomet (NYSE:ZBH) in a research note released on Thursday morning, Benzinga reports.

Other research analysts also recently issued research reports about the company. StockNews.com downgraded Zimmer Biomet from a strong-buy rating to a buy rating in a report on Monday, February 19th. Citigroup lifted their price objective on Zimmer Biomet from $134.00 to $140.00 and gave the stock a neutral rating in a research report on Wednesday, April 3rd. Raymond James upped their target price on shares of Zimmer Biomet from $133.00 to $137.00 and gave the company an outperform rating in a research report on Wednesday, January 3rd. Evercore ISI lifted their price target on shares of Zimmer Biomet from $125.00 to $130.00 and gave the stock an in-line rating in a research report on Thursday, April 4th. Finally, Truist Financial increased their price objective on shares of Zimmer Biomet from $133.00 to $135.00 and gave the company a hold rating in a report on Friday, February 9th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, Zimmer Biomet currently has a consensus rating of Hold and an average target price of $135.40.

Zimmer Biomet Stock Performance

NYSE:ZBH opened at $121.66 on Thursday. Zimmer Biomet has a 12-month low of $102.00 and a 12-month high of $147.50. The firm has a market capitalization of $25.00 billion, a PE ratio of 26.33, a price-to-earnings-growth ratio of 2.23 and a beta of 1.03. The firm has a 50-day moving average price of $125.30 and a 200 day moving average price of $120.21. The company has a quick ratio of 0.78, a current ratio of 1.66 and a debt-to-equity ratio of 0.38.

Zimmer Biomet (NYSE:ZBH) last issued its earnings results on Thursday, May 2nd. The medical equipment provider reported $1.94 EPS for the quarter, beating the consensus estimate of $1.87 by $0.07. Zimmer Biomet had a net margin of 12.93% and a return on equity of 12.70%. The company had revenue of $1.89 billion for the quarter, compared to the consensus estimate of $1.87 billion. During the same quarter in the previous year, the company earned $1.89 EPS. The firm’s revenue for the quarter was up 3.2% compared to the same quarter last year. Research analysts anticipate that Zimmer Biomet will post 8.1 earnings per share for the current fiscal year.

Zimmer Biomet Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 30th. Shareholders of record on Friday, March 29th were given a dividend of $0.24 per share. The ex-dividend date was Wednesday, March 27th. This represents a $0.96 dividend on an annualized basis and a yield of 0.79%. Zimmer Biomet’s dividend payout ratio (DPR) is 20.78%.

Insider Buying and Selling

In other Zimmer Biomet news, VP Chad F. Phipps sold 26,156 shares of the stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $128.62, for a total transaction of $3,364,184.72. Following the transaction, the vice president now owns 44,145 shares in the company, valued at approximately $5,677,929.90. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.95% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Commonwealth Equity Services LLC grew its stake in shares of Zimmer Biomet by 0.5% during the third quarter. Commonwealth Equity Services LLC now owns 67,751 shares of the medical equipment provider’s stock worth $7,603,000 after buying an additional 324 shares during the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund grew its position in Zimmer Biomet by 5.7% during the 3rd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 40,516 shares of the medical equipment provider’s stock worth $4,547,000 after acquiring an additional 2,200 shares during the last quarter. SVB Wealth LLC increased its holdings in Zimmer Biomet by 5.2% in the 3rd quarter. SVB Wealth LLC now owns 10,146 shares of the medical equipment provider’s stock worth $1,139,000 after purchasing an additional 498 shares in the last quarter. Xponance Inc. raised its position in Zimmer Biomet by 2.6% in the third quarter. Xponance Inc. now owns 26,749 shares of the medical equipment provider’s stock valued at $3,002,000 after purchasing an additional 677 shares during the last quarter. Finally, Pinnacle Associates Ltd. boosted its stake in shares of Zimmer Biomet by 5.0% during the third quarter. Pinnacle Associates Ltd. now owns 2,020 shares of the medical equipment provider’s stock valued at $227,000 after purchasing an additional 97 shares in the last quarter. 88.89% of the stock is owned by institutional investors.

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.