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

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

Other equities analysts also recently issued research reports about the stock. Canaccord Genuity Group reduced their price target 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. Citigroup decreased their price objective on shares of Zimmer Biomet from $134.00 to $120.00 and set a neutral rating for the company in a report on Wednesday, July 10th. Truist Financial reissued a hold rating and set a $112.00 target price (down previously from $117.00) on shares of Zimmer Biomet in a report on Friday, September 13th. Robert W. Baird cut their price objective on Zimmer Biomet from $155.00 to $145.00 and set an outperform rating for the company in a report on Thursday, August 8th. Finally, The Goldman Sachs Group initiated coverage on Zimmer Biomet in a report on Thursday, May 30th. They set a neutral rating and a $129.00 target price on the stock. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of Hold and a consensus target price of $125.17.

Zimmer Biomet Price Performance

Shares of ZBH stock opened at $106.42 on Tuesday. The company has a current ratio of 1.29, a quick ratio of 0.63 and a debt-to-equity ratio of 0.31. The firm has a fifty day simple moving average of $109.83 and a 200-day simple moving average of $115.52. The company has a market capitalization of $21.67 billion, a PE ratio of 23.03, a price-to-earnings-growth ratio of 1.96 and a beta of 1.02. Zimmer Biomet has a twelve month low of $102.00 and a twelve month high of $133.90.

Zimmer Biomet (NYSE:ZBH) last announced its quarterly earnings data on Wednesday, August 7th. The medical equipment provider reported $2.01 earnings per share for the quarter, topping the consensus estimate of $1.99 by $0.02. The company had revenue of $1.94 billion during the quarter, compared to analyst estimates of $1.94 billion. Zimmer Biomet had a net margin of 13.25% and a return on equity of 12.86%. The firm’s revenue for the quarter was up 3.9% compared to the same quarter last year. During the same period last year, the business earned $1.82 EPS. Equities research analysts anticipate that Zimmer Biomet will post 8.02 earnings per share for the current fiscal year.

Zimmer Biomet Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 30th will be issued a $0.24 dividend. The ex-dividend date is Monday, September 30th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.90%. Zimmer Biomet’s dividend payout ratio is 20.78%.

Institutional Investors Weigh In On Zimmer Biomet

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ZBH. Norges Bank bought a new stake in shares of Zimmer Biomet during the fourth quarter worth $266,896,000. Price T Rowe Associates Inc. MD lifted its position in Zimmer Biomet by 12.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 10,642,801 shares of the medical equipment provider’s stock valued at $1,404,638,000 after purchasing an additional 1,215,935 shares during the period. American Century Companies Inc. boosted its stake in shares of Zimmer Biomet by 12.6% in the 2nd quarter. American Century Companies Inc. now owns 6,463,845 shares of the medical equipment provider’s stock valued at $701,521,000 after purchasing an additional 722,041 shares during the last quarter. Boston Partners grew its position in shares of Zimmer Biomet by 26.3% during the 1st quarter. Boston Partners now owns 3,314,939 shares of the medical equipment provider’s stock worth $437,413,000 after buying an additional 691,191 shares during the period. Finally, Magnetar Financial LLC raised its stake in shares of Zimmer Biomet by 58.7% during the second quarter. Magnetar Financial LLC now owns 1,310,265 shares of the medical equipment provider’s stock worth $142,203,000 after buying an additional 484,816 shares during the last quarter. Institutional investors and hedge funds 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.