Zimmer Biomet Holdings, Inc. (NYSE:ZBH) Given Average Recommendation of “Hold” by Brokerages

Zimmer Biomet Holdings, Inc. (NYSE:ZBH) has received a consensus recommendation of “Hold” from the twenty-two brokerages that are currently covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and nine have issued a buy rating on the company. The average 12 month price objective among brokers that have covered the stock in the last year is $124.15.

ZBH has been the subject of a number of research reports. Needham & Company LLC reaffirmed a “hold” rating on shares of Zimmer Biomet in a research note on Friday, February 7th. Royal Bank of Canada dropped their target price on Zimmer Biomet from $130.00 to $125.00 and set an “outperform” rating for the company in a research report on Friday, February 7th. JPMorgan Chase & Co. upgraded shares of Zimmer Biomet from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $125.00 to $128.00 in a research note on Tuesday, December 17th. Raymond James lowered their price objective on shares of Zimmer Biomet from $126.00 to $119.00 and set an “outperform” rating for the company in a research note on Friday, February 7th. Finally, Truist Financial reaffirmed a “hold” rating and set a $113.00 target price (down from $118.00) on shares of Zimmer Biomet in a research note on Monday, February 10th.

Zimmer Biomet Trading Up 1.4 %

NYSE ZBH opened at $112.20 on Friday. Zimmer Biomet has a 12 month low of $97.69 and a 12 month high of $133.90. The stock has a market capitalization of $22.34 billion, a P/E ratio of 25.21, a PEG ratio of 1.95 and a beta of 1.04. The firm’s 50-day moving average is $107.13 and its two-hundred day moving average is $106.96. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.91 and a quick ratio of 0.99.

Zimmer Biomet (NYSE:ZBH) last posted its quarterly earnings data on Thursday, February 6th. The medical equipment provider reported $2.31 earnings per share for the quarter, topping analysts’ consensus estimates 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 quarter in the previous year, the company posted $2.20 earnings per share. On average, sell-side analysts anticipate that Zimmer Biomet will post 8.22 earnings per share for the current year.

Zimmer Biomet Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be issued a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 0.86%. The ex-dividend date of this dividend is Monday, March 31st. Zimmer Biomet’s payout ratio is 21.57%.

Insider Buying and Selling

In related news, SVP Lori Winkler sold 1,443 shares of the firm’s stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $104.40, for a total transaction of $150,649.20. Following the transaction, the senior vice president now owns 8,768 shares in the company, valued at $915,379.20. This trade represents a 14.13 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.95% of the stock is owned by company insiders.

Institutional Investors Weigh In On Zimmer Biomet

Large investors have recently modified their holdings of the company. California State Teachers Retirement System raised its position in Zimmer Biomet by 7.9% in the 4th quarter. California State Teachers Retirement System now owns 367,390 shares of the medical equipment provider’s stock valued at $38,807,000 after purchasing an additional 26,934 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in Zimmer Biomet by 25.1% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 18,353 shares of the medical equipment provider’s stock valued at $1,939,000 after purchasing an additional 3,681 shares during the period. Lansforsakringar Fondforvaltning AB publ purchased a new stake in shares of Zimmer Biomet in the fourth quarter valued at about $7,206,000. Mattson Financial Services LLC boosted its stake in shares of Zimmer Biomet by 22.8% during the fourth quarter. Mattson Financial Services LLC now owns 18,020 shares of the medical equipment provider’s stock worth $1,945,000 after buying an additional 3,350 shares during the period. Finally, Siemens Fonds Invest GmbH grew its holdings in shares of Zimmer Biomet by 561.8% during the fourth quarter. Siemens Fonds Invest GmbH now owns 15,002 shares of the medical equipment provider’s stock worth $1,585,000 after buying an additional 12,735 shares during the last quarter. 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.