Zimmer Biomet (NYSE:ZBH) Given “Hold” Rating at Truist Financial

Truist Financial reissued their hold rating on shares of Zimmer Biomet (NYSE:ZBH) in a report published on Monday morning,Benzinga reports. They currently have a $113.00 target price on the medical equipment provider’s stock, down from their prior target price of $118.00.

A number of other brokerages have also commented on ZBH. Raymond James dropped their price target on Zimmer Biomet from $126.00 to $119.00 and set an “outperform” rating on the stock in a report on Friday. Needham & Company LLC reiterated a “hold” rating on shares of Zimmer Biomet in a research note on Friday. JPMorgan Chase & Co. upgraded shares of Zimmer Biomet from a “neutral” rating to an “overweight” rating and increased their price target for the company from $125.00 to $128.00 in a research report on Tuesday, December 17th. Wells Fargo & Company lifted their price objective on shares of Zimmer Biomet from $110.00 to $117.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 31st. Finally, Royal Bank of Canada reduced their target price on shares of Zimmer Biomet from $130.00 to $125.00 and set an “outperform” rating for the company in a research report on Friday. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $124.15.

Zimmer Biomet Price Performance

Shares of ZBH opened at $100.40 on Monday. The business’s fifty day moving average is $107.34 and its 200 day moving average is $108.07. Zimmer Biomet has a 12-month low of $99.67 and a 12-month high of $133.90. The company has a quick ratio of 0.70, a current ratio of 1.91 and a debt-to-equity ratio of 0.43. The stock has a market cap of $19.99 billion, a P/E ratio of 22.56, a P/E/G ratio of 1.83 and a beta of 1.02.

Zimmer Biomet (NYSE:ZBH) last issued its quarterly earnings data on Thursday, February 6th. The medical equipment provider reported $2.31 EPS for the quarter, topping the consensus estimate of $2.30 by $0.01. Zimmer Biomet had a return on equity of 12.99% and a net margin of 11.77%. During the same period in the prior year, the firm earned $2.20 earnings per share. Sell-side analysts anticipate that Zimmer Biomet will post 8.25 earnings per share for the current fiscal year.

Zimmer Biomet Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Monday, December 30th were paid a $0.24 dividend. The ex-dividend date was Monday, December 30th. This represents a $0.96 dividend on an annualized basis and a yield of 0.96%. Zimmer Biomet’s dividend payout ratio is currently 21.57%.

Institutional Trading of Zimmer Biomet

Large investors have recently modified their holdings of the business. Geode Capital Management LLC increased its stake in Zimmer Biomet by 2.6% in the third quarter. Geode Capital Management LLC now owns 4,879,385 shares of the medical equipment provider’s stock valued at $524,942,000 after acquiring an additional 125,852 shares during the last quarter. M&T Bank Corp increased its position in shares of Zimmer Biomet by 48.4% during the 3rd quarter. M&T Bank Corp now owns 26,719 shares of the medical equipment provider’s stock valued at $2,884,000 after purchasing an additional 8,709 shares during the last quarter. Peddock Capital Advisors LLC purchased a new position in shares of Zimmer Biomet during the 4th quarter valued at about $654,000. National Pension Service lifted its position in Zimmer Biomet by 3.8% in the 3rd quarter. National Pension Service now owns 369,547 shares of the medical equipment provider’s stock worth $39,893,000 after buying an additional 13,612 shares during the last quarter. Finally, River Global Investors LLP boosted its stake in Zimmer Biomet by 31.3% in the third quarter. River Global Investors LLP now owns 21,084 shares of the medical equipment provider’s stock worth $2,276,000 after buying an additional 5,030 shares in the last quarter. Institutional investors own 88.89% of the company’s stock.

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.