Zimmer Biomet’s (ZBH) Hold Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC restated their hold rating on shares of Zimmer Biomet (NYSE:ZBH) in a research report sent to investors on Thursday, Benzinga reports.

A number of other research firms have also recently issued reports on ZBH. Raymond James cut their price objective on Zimmer Biomet from $128.00 to $123.00 and set an “outperform” rating for the company in a report on Monday, October 14th. Citigroup reduced their price target on shares of Zimmer Biomet from $134.00 to $120.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 10th. Canaccord Genuity Group lowered their price objective on shares of Zimmer Biomet from $120.00 to $115.00 and set a “hold” rating for the company in a report on Tuesday, September 10th. Evercore ISI cut their price objective on shares of Zimmer Biomet from $113.00 to $110.00 and set an “in-line” rating for the company in a research note on Tuesday, October 1st. Finally, Truist Financial reiterated a “hold” rating and issued a $112.00 target price (down previously from $117.00) on shares of Zimmer Biomet in a research report on Friday, September 13th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and eight have given a buy rating to the company. According to MarketBeat, Zimmer Biomet currently has a consensus rating of “Hold” and an average target price of $123.84.

Zimmer Biomet Stock Performance

NYSE:ZBH opened at $107.27 on Thursday. Zimmer Biomet has a twelve month low of $101.47 and a twelve month high of $133.90. The company has a quick ratio of 0.63, a current ratio of 1.36 and a debt-to-equity ratio of 0.38. The stock has a market cap of $21.35 billion, a P/E ratio of 20.39, a PEG ratio of 1.96 and a beta of 1.02. The business’s 50-day moving average price is $106.96 and its two-hundred day moving average price is $110.73.

Zimmer Biomet (NYSE:ZBH) last announced its earnings results on Wednesday, October 30th. The medical equipment provider reported $1.74 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.74. The business had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.80 billion. Zimmer Biomet had a net margin of 14.27% and a return on equity of 12.95%. Zimmer Biomet’s revenue for the quarter was up 4.1% on a year-over-year basis. During the same period in the previous year, the business posted $1.65 earnings per share. As a group, equities analysts predict that Zimmer Biomet will post 7.99 EPS for the current fiscal year.

Zimmer Biomet Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Monday, September 30th were given 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 is currently 18.25%.

Institutional Trading of Zimmer Biomet

Institutional investors and hedge funds have recently bought and sold shares of the stock. BLB&B Advisors LLC raised its position in shares of Zimmer Biomet by 2.1% in the 3rd quarter. BLB&B Advisors LLC now owns 4,900 shares of the medical equipment provider’s stock worth $529,000 after acquiring an additional 100 shares in the last quarter. Financial Advocates Investment Management increased its stake in shares of Zimmer Biomet by 3.5% in the 3rd quarter. Financial Advocates Investment Management now owns 3,053 shares of the medical equipment provider’s stock worth $330,000 after acquiring an additional 103 shares in the last quarter. PFG Advisors boosted its stake in Zimmer Biomet by 5.5% during the first quarter. PFG Advisors now owns 2,004 shares of the medical equipment provider’s stock worth $265,000 after acquiring an additional 105 shares in the last quarter. M&R Capital Management Inc. increased its stake in shares of Zimmer Biomet by 14.1% during the third quarter. M&R Capital Management Inc. now owns 852 shares of the medical equipment provider’s stock valued at $92,000 after purchasing an additional 105 shares in the last quarter. Finally, Mill Creek Capital Advisors LLC raised its stake in Zimmer Biomet by 5.1% during the second quarter. Mill Creek Capital Advisors LLC now owns 2,195 shares of the medical equipment provider’s stock valued at $238,000 after buying an additional 106 shares during the last quarter. 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.