BTIG Research Trims Zimmer Biomet (NYSE:ZBH) Target Price to $126.00

by · The Markets Daily

Zimmer Biomet (NYSE:ZBH – Free Report) had its price objective decreased by BTIG Research from $134.00 to $126.00 in a research report sent to investors on Thursday morning, Benzinga reports. BTIG Research currently has a buy rating on the medical equipment provider’s stock.

ZBH has been the topic of a number of other research reports. Truist Financial reiterated a hold rating and issued a $112.00 price objective (down previously from $117.00) on shares of Zimmer Biomet in a report on Friday, September 13th. Evercore ISI cut their price objective on shares of Zimmer Biomet from $113.00 to $110.00 and set an in-line rating on the stock in a report on Tuesday, October 1st. Oppenheimer cut their price objective on shares of Zimmer Biomet from $155.00 to $145.00 and set an outperform rating on the stock in a report on Thursday, August 8th. Citigroup cut their price objective on shares of Zimmer Biomet from $134.00 to $120.00 and set a neutral rating on the stock in a report on Wednesday, July 10th. Finally, Needham & Company LLC reiterated a hold rating on shares of Zimmer Biomet in a report on Tuesday, September 17th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of Hold and a consensus price target of $125.05.

View Our Latest Stock Report on ZBH

Zimmer Biomet Stock Performance

Shares of ZBH stock opened at $104.68 on Thursday. The company’s fifty day simple moving average is $109.19 and its 200-day simple moving average is $114.07. Zimmer Biomet has a 52 week low of $102.00 and a 52 week high of $133.90. The company has a current ratio of 1.29, a quick ratio of 0.63 and a debt-to-equity ratio of 0.31. The company has a market cap of $21.54 billion, a PE ratio of 22.66, a P/E/G ratio of 1.94 and a beta of 1.02.

Zimmer Biomet (NYSE:ZBH – Get Free Report) last issued its 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 the consensus estimate of $1.94 billion. During the same quarter last year, the firm posted $1.82 EPS. The business’s revenue for the quarter was up 3.9% compared to the same quarter last year. As a group, equities research analysts anticipate that Zimmer Biomet will post 8 EPS for the current year.

Zimmer Biomet Announces Dividend

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

Institutional Investors Weigh In On Zimmer Biomet

Institutional investors have recently modified their holdings of the business. The Manufacturers Life Insurance Company grew its position in Zimmer Biomet by 18.7% in the 4th quarter. The Manufacturers Life Insurance Company now owns 299,155 shares of the medical equipment provider’s stock worth $36,407,000 after purchasing an additional 47,047 shares during the last quarter. NEOS Investment Management LLC grew its position in Zimmer Biomet by 32.6% in the 4th quarter. NEOS Investment Management LLC now owns 2,960 shares of the medical equipment provider’s stock worth $360,000 after purchasing an additional 727 shares during the last quarter. CIBC Private Wealth Group LLC grew its position in Zimmer Biomet by 7.5% in the 4th quarter. CIBC Private Wealth Group LLC now owns 18,024 shares of the medical equipment provider’s stock worth $2,194,000 after purchasing an additional 1,259 shares during the last quarter. Royal London Asset Management Ltd. lifted its stake in shares of Zimmer Biomet by 3.6% in the 4th quarter. Royal London Asset Management Ltd. now owns 82,959 shares of the medical equipment provider’s stock worth $10,096,000 after acquiring an additional 2,915 shares during the period. Finally, Tower Research Capital LLC TRC lifted its stake in shares of Zimmer Biomet by 210.6% in the 4th quarter. Tower Research Capital LLC TRC now owns 26,577 shares of the medical equipment provider’s stock worth $3,234,000 after acquiring an additional 18,019 shares during the period. Institutional investors own 88.89% of the company’s stock.

About Zimmer Biomet

(Get Free Report)

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.

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