Royal Bank of Canada Issues Positive Forecast for Zimmer Biomet (NYSE:ZBH) Stock Price

Zimmer Biomet (NYSE:ZBH) had its target price hoisted by Royal Bank of Canada from $120.00 to $125.00 in a research note issued to investors on Monday, Benzinga reports. Royal Bank of Canada currently has an outperform rating on the medical equipment provider’s stock.

Several other research analysts have also recently issued reports on ZBH. Morgan Stanley lowered their target price on shares of Zimmer Biomet from $130.00 to $120.00 and set an “equal weight” rating for the company in a report on Monday, July 15th. Raymond James dropped their price objective on Zimmer Biomet from $128.00 to $123.00 and set an “outperform” rating on the stock in a report on Monday, October 14th. JPMorgan Chase & Co. cut their target price on Zimmer Biomet from $125.00 to $120.00 and set a “neutral” rating on the stock in a research report on Monday, September 16th. Needham & Company LLC reissued a “hold” rating on shares of Zimmer Biomet in a research report on Thursday, October 31st. Finally, Robert W. Baird cut their price target on Zimmer Biomet from $155.00 to $145.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $124.11.

Zimmer Biomet Stock Down 0.7 %

NYSE:ZBH traded down $0.72 during mid-day trading on Monday, hitting $107.69. The stock had a trading volume of 27,665 shares, compared to its average volume of 1,484,300. Zimmer Biomet has a twelve month low of $101.47 and a twelve month high of $133.90. The stock has a 50-day simple moving average of $106.83 and a two-hundred day simple moving average of $110.66. The company has a current ratio of 1.36, a quick ratio of 0.70 and a debt-to-equity ratio of 0.38. The company has a market capitalization of $21.44 billion, a PE ratio of 20.61, a PEG ratio of 1.97 and a beta of 1.02.

Zimmer Biomet (NYSE:ZBH) last announced its quarterly earnings data on Wednesday, October 30th. The medical equipment provider reported $1.74 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.74. The business had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.80 billion. Zimmer Biomet had a net margin of 14.27% and a return on equity of 12.95%. The company’s revenue was up 4.1% on a year-over-year basis. During the same period last year, the business earned $1.65 EPS. On average, equities research analysts anticipate that Zimmer Biomet will post 7.99 EPS for the current year.

Zimmer Biomet Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, September 30th were issued a $0.24 dividend. The ex-dividend date was Monday, September 30th. This represents a $0.96 annualized dividend and a dividend yield of 0.89%. Zimmer Biomet’s dividend payout ratio is currently 18.25%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of ZBH. Private Advisor Group LLC lifted its position in shares of Zimmer Biomet by 2.2% during the 1st quarter. Private Advisor Group LLC now owns 10,846 shares of the medical equipment provider’s stock valued at $1,431,000 after acquiring an additional 236 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its position in Zimmer Biomet by 7.6% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 52,214 shares of the medical equipment provider’s stock worth $6,668,000 after purchasing an additional 3,682 shares in the last quarter. Fidelis Capital Partners LLC acquired a new stake in Zimmer Biomet in the first quarter valued at $69,000. Nordea Investment Management AB increased its position in shares of Zimmer Biomet by 11.4% in the first quarter. Nordea Investment Management AB now owns 15,154 shares of the medical equipment provider’s stock valued at $2,006,000 after buying an additional 1,551 shares in the last quarter. Finally, Financial Counselors Inc. increased its position in shares of Zimmer Biomet by 5.6% in the first quarter. Financial Counselors Inc. now owns 5,006 shares of the medical equipment provider’s stock valued at $661,000 after buying an additional 264 shares in the last quarter. Hedge funds and other institutional investors 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.