Zimmer Biomet (NYSE:ZBH) Given New $115.00 Price Target at Evercore ISI

Zimmer Biomet (NYSE:ZBH) had its price objective reduced by Evercore ISI from $130.00 to $115.00 in a research note published on Tuesday morning, Benzinga reports. They currently have an in-line rating on the medical equipment provider’s stock.

A number of other equities research analysts also recently weighed in on the company. Oppenheimer boosted their price target on Zimmer Biomet from $150.00 to $155.00 and gave the company an outperform rating in a report on Friday, May 3rd. Argus upgraded Zimmer Biomet from a hold rating to a buy rating and set a $150.00 price objective for the company in a research note on Tuesday, May 21st. Needham & Company LLC restated a hold rating on shares of Zimmer Biomet in a research note on Thursday, May 30th. The Goldman Sachs Group started coverage on Zimmer Biomet in a research note on Thursday, May 30th. They set a neutral rating and a $129.00 price objective for the company. Finally, Barclays lowered their price objective on Zimmer Biomet from $130.00 to $125.00 and set an underweight rating for the company in a research note on Friday, May 31st. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of Hold and a consensus price target of $131.76.

Zimmer Biomet Stock Performance

NYSE ZBH opened at $106.27 on Tuesday. The firm has a market capitalization of $21.86 billion, a P/E ratio of 23.00, a P/E/G ratio of 1.95 and a beta of 1.01. Zimmer Biomet has a 1-year low of $102.00 and a 1-year high of $144.80. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.66 and a quick ratio of 0.80. The business’s 50-day simple moving average is $115.00 and its 200-day simple moving average is $121.14.

Zimmer Biomet (NYSE:ZBH) last released its quarterly earnings results on Thursday, May 2nd. The medical equipment provider reported $1.94 EPS for the quarter, topping the consensus estimate of $1.87 by $0.07. The firm had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.87 billion. Zimmer Biomet had a return on equity of 12.70% and a net margin of 12.93%. Zimmer Biomet’s revenue for the quarter was up 3.2% on a year-over-year basis. During the same period in the previous year, the company posted $1.89 EPS. Equities analysts predict that Zimmer Biomet will post 8.1 EPS for the current year.

Zimmer Biomet Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Wednesday, June 26th will be issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 0.90%. The ex-dividend date of this dividend is Wednesday, June 26th. Zimmer Biomet’s dividend payout ratio (DPR) is currently 20.78%.

Institutional Trading of Zimmer Biomet

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. OLD Point Trust & Financial Services N A acquired a new stake in shares of Zimmer Biomet during the 4th quarter worth approximately $26,000. Ables Iannone Moore & Associates Inc. acquired a new stake in shares of Zimmer Biomet during the 4th quarter worth approximately $30,000. Crewe Advisors LLC acquired a new stake in shares of Zimmer Biomet during the 1st quarter worth approximately $31,000. Naples Money Management LLC acquired a new stake in shares of Zimmer Biomet during the 4th quarter worth approximately $35,000. Finally, J.Safra Asset Management Corp grew its holdings in shares of Zimmer Biomet by 712.1% during the 1st quarter. J.Safra Asset Management Corp now owns 268 shares of the medical equipment provider’s stock worth $35,000 after purchasing an additional 235 shares in the last quarter. Institutional investors and hedge funds 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.