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

Zimmer Biomet Holdings, Inc. (NYSE:ZBH)’s stock price reached a new 52-week low during trading 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 traded. The stock had previously closed at $102.69.

A number of other equities analysts also recently commented on the stock. JMP Securities reiterated a “market outperform” rating and set a $140.00 target price on shares of Zimmer Biomet in a research note on Friday. Stifel Nicolaus boosted their target price on shares of Zimmer Biomet from $130.00 to $138.00 and gave the stock a “buy” rating in a research note on Thursday, January 23rd. Raymond James lowered their target price on shares of Zimmer Biomet from $126.00 to $119.00 and set an “outperform” rating for the company in a research note on Friday. JPMorgan Chase & Co. upgraded shares of Zimmer Biomet from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $125.00 to $128.00 in a research note on Tuesday, December 17th. Finally, Barclays lowered their target price on shares of Zimmer Biomet from $125.00 to $118.00 and set an “underweight” rating for the company in a research note on Thursday, December 12th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $124.70.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in ZBH. Park Avenue Securities LLC increased its stake in shares of Zimmer Biomet by 158.6% during the third quarter. Park Avenue Securities LLC now owns 5,249 shares of the medical equipment provider’s stock worth $567,000 after acquiring an additional 3,219 shares during the period. Czech National Bank increased its stake in shares of Zimmer Biomet by 5.8% during the third quarter. Czech National Bank now owns 41,486 shares of the medical equipment provider’s stock worth $4,478,000 after acquiring an additional 2,282 shares during the period. GAMMA Investing LLC increased its stake in shares of Zimmer Biomet by 39.0% during the third quarter. GAMMA Investing LLC now owns 1,371 shares of the medical equipment provider’s stock worth $148,000 after acquiring an additional 385 shares during the period. Brookstone Capital Management increased its stake in shares of Zimmer Biomet by 5.3% during the third quarter. Brookstone Capital Management now owns 6,388 shares of the medical equipment provider’s stock worth $690,000 after acquiring an additional 322 shares during the period. Finally, CWM LLC increased its stake in shares of Zimmer Biomet by 7.4% during the third quarter. CWM LLC now owns 6,966 shares of the medical equipment provider’s stock worth $752,000 after acquiring an additional 481 shares during the period. 88.89% of the stock is currently owned by institutional investors and hedge funds.

Zimmer Biomet Trading Down 1.6 %

The company has a debt-to-equity ratio of 0.38, a current ratio of 1.36 and a quick ratio of 0.70. The business’s 50 day moving average price is $107.56 and its 200-day moving average price is $108.16. The firm has a market capitalization of $20.11 billion, a price-to-earnings ratio of 19.20, a price-to-earnings-growth 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 earnings per share for the quarter, topping the consensus estimate 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 quarter last year, the company earned $2.20 EPS. Equities analysts forecast that Zimmer Biomet Holdings, Inc. will post 7.99 EPS for the current fiscal year.

Zimmer Biomet Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Monday, December 30th were given a dividend of $0.24 per share. The ex-dividend date was Monday, December 30th. This represents a $0.96 annualized dividend and a yield of 0.95%. Zimmer Biomet’s payout ratio is currently 18.25%.

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.