Zimmer Biomet (NYSE:ZBH) Earns “Hold” Rating from Needham & Company LLC

Needham & Company LLC reiterated their hold rating on shares of Zimmer Biomet (NYSE:ZBH) in a report published on Tuesday, Benzinga reports.

Other equities research analysts have also recently issued reports about the stock. Raymond James cut their price objective on shares of Zimmer Biomet from $138.00 to $128.00 and set an outperform rating on the stock in a research report on Thursday, August 8th. Wolfe Research assumed coverage on Zimmer Biomet in a report on Tuesday, September 10th. They set a peer perform rating for the company. Citigroup dropped their target price on Zimmer Biomet from $134.00 to $120.00 and set a neutral rating on the stock in a research report on Wednesday, July 10th. Piper Sandler downgraded Zimmer Biomet from an overweight rating to a neutral rating and reduced their price target for the stock from $140.00 to $115.00 in a research report on Monday, July 1st. Finally, Morgan Stanley lowered 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. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of Hold and a consensus target price of $125.17.

Zimmer Biomet Stock Up 0.1 %

Shares of NYSE:ZBH opened at $106.42 on Tuesday. The company has a 50 day moving average price of $109.83 and a two-hundred day moving average price of $115.52. The company has a market capitalization of $21.67 billion, a PE ratio of 23.03, a PEG ratio of 1.96 and a beta of 1.02. Zimmer Biomet has a 52 week low of $102.00 and a 52 week high of $133.90. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.63 and a current ratio of 1.29.

Zimmer Biomet (NYSE:ZBH) last issued its quarterly earnings data on Wednesday, August 7th. The medical equipment provider reported $2.01 EPS for the quarter, topping the consensus estimate of $1.99 by $0.02. The business had revenue of $1.94 billion for 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 was up 3.9% compared to the same quarter last year. During the same quarter last year, the business posted $1.82 EPS. Analysts forecast that Zimmer Biomet will post 8.02 earnings per share for the current year.

Zimmer Biomet Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 30th will be paid a $0.24 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $0.96 dividend on an annualized basis and a yield of 0.90%. Zimmer Biomet’s dividend payout ratio (DPR) is currently 20.78%.

Institutional Trading of Zimmer Biomet

Several institutional investors have recently added to or reduced their stakes in the company. OLD Point Trust & Financial Services N A acquired a new position in Zimmer Biomet in the 4th quarter valued at $26,000. Crewe Advisors LLC bought a new stake in Zimmer Biomet during the first quarter worth $31,000. Ables Iannone Moore & Associates Inc. acquired a new position in shares of Zimmer Biomet during the 4th quarter worth $30,000. J.Safra Asset Management Corp lifted its position in shares of Zimmer Biomet by 712.1% during the 1st quarter. J.Safra Asset Management Corp now owns 268 shares of the medical equipment provider’s stock worth $35,000 after buying an additional 235 shares during the last quarter. Finally, Family Firm Inc. acquired a new stake in Zimmer Biomet in the second quarter valued at about $33,000. 88.89% of the stock is currently owned by institutional investors.

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.