Truist Financial Issues Positive Forecast for Zimmer Biomet (NYSE:ZBH) Stock Price

Zimmer Biomet (NYSE:ZBH) had its price target boosted by Truist Financial from $112.00 to $117.00 in a research report released on Friday morning, Benzinga reports. Truist Financial currently has a hold rating on the medical equipment provider’s stock.

A number of other research firms have also recently issued reports on ZBH. Evercore ISI reduced their target price 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. Morgan Stanley reduced their target price on shares of Zimmer Biomet from $130.00 to $120.00 and set an “equal weight” rating for the company in a research note on Monday, July 15th. Robert W. Baird reduced their target price on shares of Zimmer Biomet from $155.00 to $145.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Raymond James reduced their target price on shares of Zimmer Biomet from $128.00 to $123.00 and set an “outperform” rating for the company in a research note on Monday, October 14th. Finally, Wells Fargo & Company boosted their price objective on shares of Zimmer Biomet from $110.00 to $117.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 31st. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $124.11.

Zimmer Biomet Stock Performance

Zimmer Biomet stock opened at $108.41 on Friday. The firm’s 50 day simple moving average is $106.83 and its 200-day simple moving average is $110.66. The company has a market cap of $21.58 billion, a P/E ratio of 20.61, a price-to-earnings-growth 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 fifty-two week low of $101.47 and a fifty-two week high of $133.90.

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

Zimmer Biomet Dividend Announcement

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

Institutional Investors Weigh In On Zimmer Biomet

Several institutional investors and hedge funds have recently bought and sold shares of the business. Versor Investments LP increased its holdings in Zimmer Biomet by 93.4% in the 3rd quarter. Versor Investments LP now owns 18,565 shares of the medical equipment provider’s stock valued at $2,004,000 after buying an additional 8,965 shares during the period. Ashton Thomas Securities LLC acquired a new stake in shares of Zimmer Biomet in the 3rd quarter valued at $28,000. River Global Investors LLP boosted its stake in shares of Zimmer Biomet by 31.3% in the 3rd quarter. River Global Investors LLP now owns 21,084 shares of the medical equipment provider’s stock valued at $2,276,000 after purchasing an additional 5,030 shares in the last quarter. Covestor Ltd boosted its stake in shares of Zimmer Biomet by 36.3% in the 3rd quarter. Covestor Ltd now owns 1,088 shares of the medical equipment provider’s stock valued at $117,000 after purchasing an additional 290 shares in the last quarter. Finally, Mesirow Financial Investment Management Inc. boosted its stake in shares of Zimmer Biomet by 95.2% in the 3rd quarter. Mesirow Financial Investment Management Inc. now owns 5,254 shares of the medical equipment provider’s stock valued at $567,000 after purchasing an additional 2,563 shares in the last quarter. 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.