Zimmer Biomet (NYSE:ZBH) Rating Reiterated by Truist Financial

Truist Financial reissued their hold rating on shares of Zimmer Biomet (NYSE:ZBH) in a research note issued to investors on Friday, Benzinga reports. The firm currently has a $112.00 price objective on the medical equipment provider’s stock, down from their prior price objective of $117.00.

ZBH has been the topic of several other reports. Citigroup dropped their price target on Zimmer Biomet from $134.00 to $120.00 and set a neutral rating on the stock in a research note on Wednesday, July 10th. Royal Bank of Canada cut their target price on shares of Zimmer Biomet from $140.00 to $130.00 and set an outperform rating on the stock in a research note on Thursday, August 8th. UBS Group reduced their price target on shares of Zimmer Biomet from $112.00 to $107.00 and set a sell rating for the company in a report on Thursday, August 8th. The Goldman Sachs Group assumed coverage on shares of Zimmer Biomet in a research report on Thursday, May 30th. They set a neutral rating and a $129.00 price objective on the stock. Finally, Morgan Stanley decreased their target price on Zimmer Biomet from $130.00 to $120.00 and set an equal weight rating for the company in a research report on Monday, July 15th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, Zimmer Biomet currently has an average rating of Hold and a consensus price target of $125.44.

Zimmer Biomet Trading Up 1.1 %

NYSE:ZBH opened at $106.26 on Friday. 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. The firm’s fifty day moving average is $109.90 and its 200-day moving average is $116.16. The firm has a market cap of $21.64 billion, a P/E ratio of 23.00, a P/E/G ratio of 1.92 and a beta of 1.02.

Zimmer Biomet (NYSE:ZBH) last issued its quarterly earnings results on Wednesday, August 7th. The medical equipment provider reported $2.01 EPS for the quarter, beating 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 business had revenue of $1.94 billion for the quarter, compared to analysts’ expectations of $1.94 billion. During the same quarter in the prior year, the firm posted $1.82 earnings per share. The business’s quarterly revenue was up 3.9% compared to the same quarter last year. Equities analysts expect 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. Stockholders of record on Monday, September 30th will be paid a dividend of $0.24 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $0.96 annualized dividend and a dividend yield of 0.90%. Zimmer Biomet’s payout ratio is currently 20.78%.

Hedge Funds Weigh In On Zimmer Biomet

Several large investors have recently modified their holdings of ZBH. OLD Point Trust & Financial Services N A purchased a new stake in Zimmer Biomet during the 4th quarter worth about $26,000. Ables Iannone Moore & Associates Inc. bought a new stake in shares of Zimmer Biomet during the fourth quarter valued at about $30,000. Crewe Advisors LLC purchased a new stake in Zimmer Biomet in the 1st quarter worth approximately $31,000. Family Firm Inc. purchased a new position in shares of Zimmer Biomet during the 2nd quarter valued at $33,000. Finally, J.Safra Asset Management Corp raised its position in shares of Zimmer Biomet by 712.1% in the first 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 in 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.