Evercore ISI Cuts Zimmer Biomet (NYSE:ZBH) Price Target to $115.00

Zimmer Biomet (NYSE:ZBH) had its price objective cut by Evercore ISI from $130.00 to $115.00 in a report issued on Tuesday, Benzinga reports. They currently have an in-line rating on the medical equipment provider’s stock.

ZBH has been the subject of several other reports. Argus raised shares of Zimmer Biomet from a hold rating to a buy rating and set a $150.00 price objective for the company in a research note on Tuesday, May 21st. The Goldman Sachs Group began coverage on shares of Zimmer Biomet in a research note on Thursday, May 30th. They set a neutral rating and a $129.00 price objective for the company. Barclays lowered their price objective on shares of Zimmer Biomet from $130.00 to $125.00 and set an underweight rating for the company in a research note on Friday, May 31st. Citigroup upped their price objective on shares of Zimmer Biomet from $134.00 to $140.00 and gave the company a neutral rating in a research note on Wednesday, April 3rd. Finally, Needham & Company LLC reiterated a hold rating on shares of Zimmer Biomet in a research report on Thursday, May 30th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of Hold and a consensus price target of $131.76.

Zimmer Biomet Stock Performance

Zimmer Biomet stock opened at $106.58 on Tuesday. The company has a quick ratio of 0.80, a current ratio of 1.66 and a debt-to-equity ratio of 0.38. The company has a market capitalization of $21.93 billion, a PE ratio of 23.07, a P/E/G ratio of 1.91 and a beta of 1.01. The firm has a fifty day simple moving average of $114.40 and a two-hundred day simple moving average of $120.95. Zimmer Biomet has a twelve month low of $102.00 and a twelve month high of $144.13.

Zimmer Biomet (NYSE:ZBH) last posted its quarterly earnings results on Thursday, May 2nd. The medical equipment provider reported $1.94 earnings per share for the quarter, topping the consensus estimate of $1.87 by $0.07. The business had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.87 billion. Zimmer Biomet had a net margin of 12.93% and a return on equity of 12.70%. The firm’s revenue for the quarter was up 3.2% on a year-over-year basis. During the same period in the previous year, the firm posted $1.89 earnings per share. Research analysts expect that Zimmer Biomet will post 8.1 EPS for the current year.

Zimmer Biomet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Wednesday, June 26th will be issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 0.90%. The ex-dividend date is Wednesday, June 26th. Zimmer Biomet’s dividend payout ratio (DPR) is presently 20.78%.

Institutional Investors Weigh In On Zimmer Biomet

A number of institutional investors have recently made changes to their positions in ZBH. OLD Point Trust & Financial Services N A purchased a new stake in shares of Zimmer Biomet during the fourth quarter valued at approximately $26,000. Ables Iannone Moore & Associates Inc. purchased a new stake in shares of Zimmer Biomet during the fourth quarter valued at approximately $30,000. Crewe Advisors LLC purchased a new stake in shares of Zimmer Biomet during the first quarter valued at approximately $31,000. Naples Money Management LLC purchased a new stake in shares of Zimmer Biomet during the fourth quarter valued at approximately $35,000. Finally, J.Safra Asset Management Corp grew its holdings in shares of Zimmer Biomet by 712.1% during the first quarter. J.Safra Asset Management Corp now owns 268 shares of the medical equipment provider’s stock valued at $35,000 after buying an additional 235 shares during the last quarter. Hedge funds and other institutional investors own 88.89% of the company’s stock.

Zimmer Biomet Company Profile

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.