Royal Bank of Canada Cuts Zimmer Biomet (NYSE:ZBH) Price Target to $125.00

Zimmer Biomet (NYSE:ZBH) had its target price trimmed by Royal Bank of Canada from $130.00 to $125.00 in a report published on Friday morning,Benzinga reports. The firm currently has an outperform rating on the medical equipment provider’s stock.

A number of other equities analysts also recently issued reports on ZBH. JMP Securities reiterated a “market outperform” rating and set a $140.00 price objective on shares of Zimmer Biomet in a research note on Friday. Truist Financial upped their target price on Zimmer Biomet from $117.00 to $118.00 and gave the company a “hold” rating in a research report on Wednesday, December 18th. Barclays decreased their price target on shares of Zimmer Biomet from $125.00 to $118.00 and set an “underweight” rating for the company in a report on Thursday, December 12th. JPMorgan Chase & Co. upgraded Zimmer Biomet from a “neutral” rating to an “overweight” rating and upped their target price for the company from $125.00 to $128.00 in a research report on Tuesday, December 17th. Finally, Raymond James cut their price objective on shares of Zimmer Biomet from $126.00 to $119.00 and set an “outperform” rating on the stock in a research note on Friday. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $124.70.

Zimmer Biomet Trading Down 1.6 %

Shares of ZBH opened at $101.01 on Friday. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.91 and a quick ratio of 0.70. The firm has a market capitalization of $20.11 billion, a price-to-earnings ratio of 22.70, a PEG ratio of 1.83 and a beta of 1.02. The company has a 50-day moving average of $107.34 and a 200 day moving average of $108.08. Zimmer Biomet has a 1-year low of $99.93 and a 1-year high of $133.90.

Zimmer Biomet (NYSE:ZBH) last announced its quarterly earnings results on Thursday, February 6th. The medical equipment provider reported $2.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 last year, the business earned $2.20 earnings per share. On average, research analysts expect that Zimmer Biomet will post 8.25 EPS for the current year.

Zimmer Biomet Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Monday, December 30th were paid a dividend of $0.24 per share. The ex-dividend date was Monday, December 30th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.95%. Zimmer Biomet’s dividend payout ratio is currently 21.57%.

Hedge Funds Weigh In On Zimmer Biomet

Hedge funds have recently made changes to their positions in the company. Stonebridge Financial Group LLC purchased a new position in shares of Zimmer Biomet in the fourth quarter worth about $25,000. Dunhill Financial LLC raised its holdings in Zimmer Biomet by 1,090.0% in the 3rd quarter. Dunhill Financial LLC now owns 238 shares of the medical equipment provider’s stock valued at $26,000 after acquiring an additional 218 shares during the last quarter. Ashton Thomas Securities LLC purchased a new position in Zimmer Biomet in the 3rd quarter worth approximately $28,000. Brooklyn Investment Group acquired a new position in shares of Zimmer Biomet during the 3rd quarter worth approximately $35,000. Finally, Kentucky Trust Co purchased a new stake in shares of Zimmer Biomet in the fourth quarter valued at approximately $39,000. 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.