JMP Securities Reiterates “Market Outperform” Rating for Zimmer Biomet (NYSE:ZBH)

JMP Securities restated their market outperform rating on shares of Zimmer Biomet (NYSE:ZBH) in a research report released on Friday morning,Benzinga reports. JMP Securities currently has a $140.00 price objective on the medical equipment provider’s stock.

Other research analysts have also recently issued research reports about the company. Royal Bank of Canada lifted their target price on Zimmer Biomet from $120.00 to $125.00 and gave the company an “outperform” rating in a report on Monday, November 4th. Stifel Nicolaus boosted their target price on Zimmer Biomet from $130.00 to $138.00 and gave the stock a “buy” rating in a report on Thursday, January 23rd. Wells Fargo & Company raised their price target on shares of Zimmer Biomet from $110.00 to $117.00 and gave the company an “equal weight” rating in a report on Thursday, October 31st. JPMorgan Chase & Co. raised shares of Zimmer Biomet from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $125.00 to $128.00 in a research report on Tuesday, December 17th. Finally, Truist Financial lifted their target price on shares of Zimmer Biomet from $117.00 to $118.00 and gave the company a “hold” rating in a report on Wednesday, December 18th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $124.70.

Zimmer Biomet Stock Down 1.6 %

Shares of NYSE:ZBH opened at $101.01 on Friday. Zimmer Biomet has a 12-month low of $99.93 and a 12-month high of $133.90. The stock’s 50-day moving average price is $107.56 and its two-hundred day moving average price is $108.16. The company has a current ratio of 1.91, a quick ratio of 0.70 and a debt-to-equity ratio of 0.43. The firm has a market cap of $20.11 billion, a price-to-earnings ratio of 22.70, a PEG ratio of 1.83 and a beta of 1.02.

Zimmer Biomet (NYSE:ZBH) last released its earnings results on Thursday, February 6th. The medical equipment provider reported $2.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.30 by $0.01. Zimmer Biomet had a net margin of 11.77% and a return on equity of 12.99%. During the same period in the previous year, the firm earned $2.20 EPS. On average, research analysts forecast that Zimmer Biomet will post 8.25 EPS for the current year.

Zimmer Biomet Announces Dividend

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

Institutional Investors Weigh In On Zimmer Biomet

Several institutional investors and hedge funds have recently made changes to their positions in ZBH. Equity Investment Corp bought a new stake in Zimmer Biomet during the third quarter valued at $70,104,000. Hotchkis & Wiley Capital Management LLC boosted its holdings in shares of Zimmer Biomet by 49.1% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 1,752,298 shares of the medical equipment provider’s stock valued at $189,161,000 after buying an additional 577,320 shares during the period. Van ECK Associates Corp grew its position in shares of Zimmer Biomet by 12.4% during the 3rd quarter. Van ECK Associates Corp now owns 3,736,761 shares of the medical equipment provider’s stock valued at $391,239,000 after buying an additional 411,163 shares during the last quarter. Thompson Siegel & Walmsley LLC bought a new position in Zimmer Biomet in the third quarter worth about $41,588,000. Finally, Raymond James Financial Inc. acquired a new position in Zimmer Biomet in the fourth quarter valued at approximately $21,234,000. 88.89% of the stock is owned by institutional investors and hedge funds.

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.