Zimmer Biomet (NYSE:ZBH) Price Target Raised to $117.00

Zimmer Biomet (NYSE:ZBH) had its price objective raised by Wells Fargo & Company from $110.00 to $117.00 in a research note released on Thursday morning, Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the medical equipment provider’s stock.

A number of other research firms also recently weighed in on ZBH. Royal Bank of Canada reduced their target price on Zimmer Biomet from $130.00 to $120.00 and set an “outperform” rating on the stock in a report on Tuesday, October 8th. Canaccord Genuity Group decreased their price target on shares of Zimmer Biomet from $120.00 to $115.00 and set a “hold” rating for the company in a research note on Tuesday, September 10th. UBS Group cut 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. Citigroup reduced their price objective on Zimmer Biomet from $134.00 to $120.00 and set a “neutral” rating for the company in a research report on Wednesday, July 10th. Finally, Evercore ISI reduced their price target on Zimmer Biomet from $113.00 to $110.00 and set an “in-line” rating for the company in a report on Tuesday, October 1st. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, Zimmer Biomet has an average rating of “Hold” and a consensus price target of $123.84.

Zimmer Biomet Stock Up 0.3 %

NYSE ZBH opened at $107.27 on Thursday. The business’s 50-day moving average is $106.96 and its 200 day moving average is $110.81. The stock has a market capitalization of $21.35 billion, a PE ratio of 20.39, a PEG ratio of 1.96 and a beta of 1.02. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.36 and a quick ratio of 0.63. Zimmer Biomet has a 1 year low of $101.47 and a 1 year high of $133.90.

Zimmer Biomet (NYSE:ZBH) last announced its quarterly earnings results on Wednesday, October 30th. The medical equipment provider reported $1.74 EPS for the quarter, missing analysts’ consensus estimates of $1.75 by ($0.01). Zimmer Biomet had a return on equity of 12.95% and a net margin of 14.27%. The business had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $1.80 billion. During the same period in the previous year, the business earned $1.65 EPS. The business’s revenue was up 4.1% compared to the same quarter last year. Sell-side analysts forecast that Zimmer Biomet will post 7.99 earnings per share for the current year.

Zimmer Biomet Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, September 30th were issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 0.89%. The ex-dividend date of this dividend was Monday, September 30th. Zimmer Biomet’s dividend payout ratio (DPR) is presently 18.25%.

Institutional Investors Weigh In On Zimmer Biomet

A number of hedge funds have recently made changes to their positions in the company. Crewe Advisors LLC purchased a new stake in shares of Zimmer Biomet during the 1st quarter worth approximately $31,000. J.Safra Asset Management Corp increased its holdings 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 worth $35,000 after buying an additional 235 shares during the last quarter. Bangor Savings Bank purchased a new stake in shares of Zimmer Biomet during the 3rd quarter valued at about $31,000. Family Firm Inc. bought a new stake in Zimmer Biomet during the second quarter worth approximately $33,000. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new stake in shares of Zimmer Biomet in the 2nd quarter valued at approximately $43,000. 88.89% of the stock is currently owned by hedge funds and other 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.