Evercore ISI Lowers Zimmer Biomet (NYSE:ZBH) Price Target to $110.00

Zimmer Biomet (NYSE:ZBH) had its price objective lowered by Evercore ISI from $113.00 to $110.00 in a report published on Tuesday, Benzinga reports. The firm currently has an in-line rating on the medical equipment provider’s stock.

A number of other equities analysts have also recently commented on the company. Wolfe Research initiated coverage on Zimmer Biomet in a report on Tuesday, September 10th. They set a peer perform rating for the company. TD Cowen reduced their price objective on shares of Zimmer Biomet from $143.00 to $119.00 and set a hold rating on the stock in a research note on Friday, September 6th. Piper Sandler lowered shares of Zimmer Biomet from an overweight rating to a neutral rating and dropped their target price for the company from $140.00 to $115.00 in a report on Monday, July 1st. UBS Group dropped 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. Finally, Truist Financial reaffirmed a hold rating and issued a $112.00 price objective (down from $117.00) on shares of Zimmer Biomet in a research report on Friday, September 13th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, Zimmer Biomet has an average rating of Hold and a consensus price target of $125.05.

Zimmer Biomet Stock Up 0.5 %

NYSE:ZBH opened at $104.68 on Tuesday. The stock’s fifty day moving average price is $109.19 and its two-hundred day moving average price is $114.16. 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 cap of $21.54 billion, a price-to-earnings ratio of 22.66, a P/E/G ratio of 1.94 and a beta of 1.02. Zimmer Biomet has a 52-week low of $102.00 and a 52-week high of $133.90.

Zimmer Biomet (NYSE:ZBH) last released its earnings results on Wednesday, August 7th. The medical equipment provider reported $2.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.99 by $0.02. The firm had revenue of $1.94 billion during the quarter, compared to analysts’ expectations of $1.94 billion. Zimmer Biomet had a return on equity of 12.86% and a net margin of 13.25%. The company’s revenue was up 3.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.82 EPS. On average, analysts anticipate that Zimmer Biomet will post 8 EPS for the current year.

Zimmer Biomet Dividend Announcement

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

Hedge Funds Weigh In On Zimmer Biomet

Several institutional investors and hedge funds have recently made changes to their positions in ZBH. Chicago Partners Investment Group LLC grew its stake in shares of Zimmer Biomet by 3.3% during the 4th quarter. Chicago Partners Investment Group LLC now owns 2,894 shares of the medical equipment provider’s stock valued at $349,000 after acquiring an additional 92 shares during the period. North Star Investment Management Corp. boosted its position in shares of Zimmer Biomet by 16.6% during the 1st quarter. North Star Investment Management Corp. now owns 669 shares of the medical equipment provider’s stock valued at $88,000 after acquiring an additional 95 shares during the last quarter. Ballentine Partners LLC boosted its position in shares of Zimmer Biomet by 2.6% during the 1st quarter. Ballentine Partners LLC now owns 3,957 shares of the medical equipment provider’s stock valued at $522,000 after acquiring an additional 100 shares during the last quarter. First Bancorp Inc ME raised its holdings in Zimmer Biomet by 5.3% during the 1st quarter. First Bancorp Inc ME now owns 1,970 shares of the medical equipment provider’s stock valued at $260,000 after buying an additional 100 shares during the period. Finally, Romano Brothers AND Company raised its holdings in Zimmer Biomet by 1.1% during the 1st quarter. Romano Brothers AND Company now owns 9,514 shares of the medical equipment provider’s stock valued at $1,256,000 after buying an additional 100 shares during the period. 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.