Zimmer Biomet (NYSE:ZBH) Earns “In-Line” Rating from Evercore ISI

Evercore ISI restated their in-line rating on shares of Zimmer Biomet (NYSE:ZBH) in a research note issued to investors on Thursday morning, Benzinga reports. The firm currently has a $113.00 price target on the medical equipment provider’s stock.

Other research analysts have also issued reports about the company. Raymond James decreased their price objective on Zimmer Biomet from $138.00 to $128.00 and set an outperform rating on the stock in a research report on Thursday, August 8th. Canaccord Genuity Group lowered their price objective on Zimmer Biomet from $130.00 to $120.00 and set a hold rating for the company in a research report on Tuesday, August 20th. Barclays cut their target price on shares of Zimmer Biomet from $130.00 to $125.00 and set an underweight rating on the stock in a research report on Friday, May 31st. Oppenheimer lowered their price target on shares of Zimmer Biomet from $155.00 to $145.00 and set an outperform rating for the company in a research report on Thursday, August 8th. Finally, UBS Group cut their price objective on shares of Zimmer Biomet from $112.00 to $107.00 and set a sell rating on the stock in a report on Thursday, August 8th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of Hold and an average target price of $126.00.

Zimmer Biomet Stock Performance

Zimmer Biomet stock opened at $104.81 on Thursday. The stock has a 50-day simple moving average of $110.04 and a 200 day simple moving average of $116.88. The stock has a market capitalization of $21.34 billion, a price-to-earnings ratio of 22.69, a P/E/G ratio of 2.04 and a beta of 1.02. The company has a quick ratio of 0.63, a current ratio of 1.29 and a debt-to-equity ratio of 0.31. Zimmer Biomet has a 12-month low of $102.00 and a 12-month high of $133.90.

Zimmer Biomet (NYSE:ZBH) last announced its earnings results on Wednesday, August 7th. The medical equipment provider reported $2.01 earnings per share for the quarter, topping analysts’ consensus estimates of $1.99 by $0.02. Zimmer Biomet had a net margin of 13.25% and a return on equity of 12.86%. The company had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.94 billion. During the same period in the previous year, the firm posted $1.82 earnings per share. The company’s revenue was up 3.9% on a year-over-year basis. On average, research analysts anticipate that Zimmer Biomet will post 8.06 earnings per share for the current fiscal year.

Zimmer Biomet Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 30th will be paid a dividend of $0.24 per share. The ex-dividend date is Monday, September 30th. This represents a $0.96 annualized dividend and a dividend yield of 0.92%. Zimmer Biomet’s dividend payout ratio is currently 20.78%.

Institutional Trading of Zimmer Biomet

Institutional investors and hedge funds have recently bought and sold shares of the stock. TD Asset Management Inc grew its holdings in Zimmer Biomet by 10.1% during the fourth quarter. TD Asset Management Inc now owns 169,595 shares of the medical equipment provider’s stock worth $20,640,000 after purchasing an additional 15,552 shares during the period. Bank of Nova Scotia lifted its position in shares of Zimmer Biomet by 499.0% in the fourth quarter. Bank of Nova Scotia now owns 134,729 shares of the medical equipment provider’s stock valued at $16,397,000 after buying an additional 112,237 shares during the last quarter. Speece Thorson Capital Group Inc. boosted its stake in shares of Zimmer Biomet by 13.8% during the 4th quarter. Speece Thorson Capital Group Inc. now owns 158,202 shares of the medical equipment provider’s stock worth $19,253,000 after acquiring an additional 19,144 shares during the period. APG Asset Management US Inc. acquired a new position in shares of Zimmer Biomet during the 4th quarter worth approximately $14,530,000. Finally, M&G Plc bought a new stake in Zimmer Biomet in the 1st quarter valued at $7,397,000. 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.