Zimmer Biomet Holdings, Inc. (NYSE:ZBH) Receives $123.94 Consensus Price Target from Brokerages

Zimmer Biomet Holdings, Inc. (NYSE:ZBH) has earned a consensus recommendation of “Hold” from the twenty ratings firms that are covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a sell recommendation, eleven have assigned a hold recommendation and seven have assigned a buy recommendation to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $123.94.

ZBH has been the topic of several research reports. Morgan Stanley dropped their price objective on shares of Zimmer Biomet from $130.00 to $120.00 and set an “equal weight” rating on the stock in a report on Monday, July 15th. JPMorgan Chase & Co. cut their price target on Zimmer Biomet from $125.00 to $120.00 and set a “neutral” rating on the stock in a report on Monday, September 16th. Raymond James decreased their price objective on Zimmer Biomet from $128.00 to $123.00 and set an “outperform” rating for the company in a report on Monday, October 14th. TD Cowen cut their target price on Zimmer Biomet from $143.00 to $119.00 and set a “hold” rating on the stock in a report on Friday, September 6th. Finally, Evercore ISI decreased their price target on shares of Zimmer Biomet from $113.00 to $110.00 and set an “in-line” rating for the company in a research note on Tuesday, October 1st.

Zimmer Biomet Stock Performance

Shares of Zimmer Biomet stock opened at $104.00 on Tuesday. The business has a 50-day moving average price of $107.89 and a two-hundred day moving average price of $111.82. Zimmer Biomet has a 1-year low of $101.47 and a 1-year high of $133.90. The company has a current ratio of 1.29, a quick ratio of 0.63 and a debt-to-equity ratio of 0.31. The company has a market cap of $21.40 billion, a P/E ratio of 22.51, a PEG ratio of 1.92 and a beta of 1.02.

Zimmer Biomet (NYSE:ZBH) last issued its earnings results on Wednesday, August 7th. The medical equipment provider reported $2.01 earnings per share for the quarter, topping analysts’ consensus estimates of $1.99 by $0.02. The business had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.94 billion. Zimmer Biomet had a return on equity of 12.86% and a net margin of 13.25%. The firm’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same period in the previous year, the company posted $1.82 earnings per share. As a group, analysts anticipate that Zimmer Biomet will post 7.97 EPS for the current year.

Zimmer Biomet Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 30th will be paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.92%. The ex-dividend date is Monday, September 30th. Zimmer Biomet’s payout ratio is 20.78%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Crewe Advisors LLC bought a new position in shares of Zimmer Biomet during the 1st quarter worth $31,000. Bangor Savings Bank bought a new position in Zimmer Biomet during the third quarter worth about $31,000. Family Firm Inc. purchased a new position in shares of Zimmer Biomet in the second quarter worth about $33,000. J.Safra Asset Management Corp raised its position in shares of Zimmer Biomet by 712.1% in the first quarter. J.Safra Asset Management Corp now owns 268 shares of the medical equipment provider’s stock valued at $35,000 after purchasing an additional 235 shares during the period. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new stake in shares of Zimmer Biomet during the 2nd quarter valued at approximately $43,000. 88.89% of the stock is currently owned by hedge funds and other 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.