Truist Financial Reaffirms Hold Rating for Zimmer Biomet (NYSE:ZBH)

Truist Financial reaffirmed their hold rating on shares of Zimmer Biomet (NYSE:ZBH) in a report published on Thursday, Benzinga reports. They currently have a $117.00 price target on the medical equipment provider’s stock.

Other equities research analysts also recently issued reports about the stock. Raymond James reduced their price target on shares of Zimmer Biomet from $138.00 to $128.00 and set an outperform rating for the company in a research report on Thursday, August 8th. Needham & Company LLC restated a hold rating on shares of Zimmer Biomet in a report on Thursday, August 8th. Morgan Stanley reduced their price target on shares of Zimmer Biomet from $130.00 to $120.00 and set an equal weight rating on the stock in a report on Monday, July 15th. Evercore ISI dropped their price objective on shares of Zimmer Biomet from $115.00 to $113.00 and set an in-line rating for the company in a research note on Thursday, August 8th. Finally, Oppenheimer reduced their target price on Zimmer Biomet from $155.00 to $145.00 and set an outperform rating on the stock in a research note on Thursday, August 8th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, Zimmer Biomet currently has an average rating of Hold and an average price target of $126.00.

Zimmer Biomet Trading Up 0.3 %

Shares of Zimmer Biomet stock opened at $104.81 on Thursday. The company’s fifty day moving average is $110.04 and its two-hundred day moving average is $116.88. Zimmer Biomet has a 1 year low of $102.00 and a 1 year 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 company has a market capitalization of $21.34 billion, a P/E ratio of 22.69, a PEG ratio of 2.04 and a beta of 1.02.

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

Zimmer Biomet Announces Dividend

The company also recently disclosed 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 dividend on an annualized basis and a dividend yield of 0.92%. Zimmer Biomet’s dividend payout ratio is currently 20.78%.

Institutional Trading of Zimmer Biomet

Large investors have recently modified their holdings of the business. OLD Point Trust & Financial Services N A acquired a new stake in shares of Zimmer Biomet during the fourth quarter worth approximately $26,000. Crewe Advisors LLC acquired a new position in Zimmer Biomet during the 1st quarter worth $31,000. Ables Iannone Moore & Associates Inc. bought a new stake in shares of Zimmer Biomet in the 4th quarter worth about $30,000. J.Safra Asset Management Corp raised its stake in shares of Zimmer Biomet by 712.1% in the 1st quarter. J.Safra Asset Management Corp now owns 268 shares of the medical equipment provider’s stock valued at $35,000 after purchasing an additional 235 shares in the last quarter. Finally, Family Firm Inc. bought a new position in shares of Zimmer Biomet during the second quarter worth about $33,000. 88.89% of the stock is currently owned by institutional investors and hedge funds.

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.