Zimmer Biomet (NYSE:ZBH) Hits New 1-Year Low – Here’s What Happened

Zimmer Biomet Holdings, Inc. (NYSE:ZBH)’s share price reached a new 52-week low during mid-day trading on Wednesday . The company traded as low as $101.04 and last traded at $101.72, with a volume of 79557 shares trading hands. The stock had previously closed at $103.13.

Analyst Ratings Changes

Several brokerages recently issued reports on ZBH. Canaccord Genuity Group cut their target price on shares of Zimmer Biomet from $120.00 to $115.00 and set a “hold” rating for the company in a research report on Tuesday, September 10th. BTIG Research reduced their price objective on Zimmer Biomet from $134.00 to $126.00 and set a “buy” rating for the company in a research note on Thursday, October 3rd. Wells Fargo & Company lifted their target price on Zimmer Biomet from $110.00 to $117.00 and gave the company an “equal weight” rating in a research report on Thursday, October 31st. Oppenheimer reduced their price target on Zimmer Biomet from $145.00 to $135.00 and set an “outperform” rating for the company in a research report on Tuesday, October 15th. Finally, Barclays lowered their price objective on Zimmer Biomet from $125.00 to $118.00 and set an “underweight” rating on the stock in a research report on Thursday, December 12th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $123.33.

Zimmer Biomet Stock Performance

The company has a market capitalization of $20.32 billion, a P/E ratio of 19.40, a price-to-earnings-growth ratio of 1.96 and a beta of 1.02. The business has a 50 day moving average of $108.36 and a 200 day moving average of $108.14. The company has a quick ratio of 0.70, a current ratio of 1.36 and a debt-to-equity ratio of 0.38.

Zimmer Biomet (NYSE:ZBH) last released its quarterly earnings results on Wednesday, October 30th. The medical equipment provider reported $1.74 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.74. Zimmer Biomet had a net margin of 14.27% and a return on equity of 12.95%. The company had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.80 billion. During the same quarter in the prior year, the firm earned $1.65 earnings per share. Zimmer Biomet’s revenue was up 4.1% on a year-over-year basis. On average, sell-side analysts predict that Zimmer Biomet Holdings, Inc. will post 7.99 earnings per share for the current year.

Zimmer Biomet Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Monday, December 30th will be paid a dividend of $0.24 per share. The ex-dividend date of this dividend is Monday, December 30th. This represents a $0.96 annualized dividend and a yield of 0.94%. Zimmer Biomet’s payout ratio is currently 18.25%.

Institutional Investors Weigh In On Zimmer Biomet

Several institutional investors have recently modified their holdings of the stock. Dunhill Financial LLC increased its position in shares of Zimmer Biomet by 1,090.0% during the 3rd quarter. Dunhill Financial LLC now owns 238 shares of the medical equipment provider’s stock valued at $26,000 after purchasing an additional 218 shares during the last quarter. Ashton Thomas Securities LLC bought a new position in Zimmer Biomet during the third quarter valued at $28,000. Bangor Savings Bank bought a new position in Zimmer Biomet during the third quarter valued at $31,000. Brooklyn Investment Group purchased a new stake in shares of Zimmer Biomet in the third quarter valued at $35,000. Finally, Quarry LP purchased a new position in shares of Zimmer Biomet during the 2nd quarter worth about $53,000. 88.89% of the stock is owned by institutional investors.

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.