Zimmer Biomet (NYSE:ZBH) Downgraded by Piper Sandler

Piper Sandler lowered shares of Zimmer Biomet (NYSE:ZBH) from an overweight rating to a neutral rating in a report released on Monday, Marketbeat reports. The firm currently has $115.00 price objective on the medical equipment provider’s stock, down from their previous price objective of $140.00.

Other equities analysts have also issued reports about the stock. Citigroup raised their price objective on shares of Zimmer Biomet from $134.00 to $140.00 and gave the company a neutral rating in a research report on Wednesday, April 3rd. Barclays decreased their price target on shares of Zimmer Biomet from $130.00 to $125.00 and set an underweight rating on the stock in a report on Friday, May 31st. Argus upgraded Zimmer Biomet from a hold rating to a buy rating and set a $150.00 target price on the stock in a research note on Tuesday, May 21st. The Goldman Sachs Group initiated coverage on Zimmer Biomet in a research report on Thursday, May 30th. They set a neutral rating and a $129.00 price target for the company. Finally, Evercore ISI upped their price objective on shares of Zimmer Biomet from $125.00 to $130.00 and gave the stock an in-line rating in a research report on Thursday, April 4th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of Hold and an average price target of $131.76.

Zimmer Biomet Stock Up 0.3 %

Shares of NYSE ZBH opened at $106.57 on Monday. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.66 and a quick ratio of 0.80. The stock has a market capitalization of $21.92 billion, a PE ratio of 23.07, a P/E/G ratio of 1.95 and a beta of 1.01. Zimmer Biomet has a one year low of $102.00 and a one year high of $144.13. The business’s fifty day moving average price is $114.69 and its 200-day moving average price is $121.05.

Zimmer Biomet (NYSE:ZBH) last issued its earnings results on Thursday, May 2nd. The medical equipment provider reported $1.94 earnings per share for the quarter, topping analysts’ consensus estimates of $1.87 by $0.07. The firm had revenue of $1.89 billion during the quarter, compared to analyst estimates of $1.87 billion. Zimmer Biomet had a net margin of 12.93% and a return on equity of 12.70%. The company’s quarterly revenue was up 3.2% on a year-over-year basis. During the same quarter last year, the business earned $1.89 earnings per share. On average, equities research analysts anticipate that Zimmer Biomet will post 8.1 EPS for the current year.

Zimmer Biomet Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Wednesday, June 26th will be given a $0.24 dividend. The ex-dividend date is Wednesday, June 26th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.90%. Zimmer Biomet’s dividend payout ratio is currently 20.78%.

Institutional Investors Weigh In On Zimmer Biomet

A number of institutional investors have recently modified their holdings of ZBH. OLD Point Trust & Financial Services N A purchased a new stake in Zimmer Biomet during the 4th quarter valued at about $26,000. Ables Iannone Moore & Associates Inc. purchased a new stake in shares of Zimmer Biomet during the fourth quarter valued at approximately $30,000. Crewe Advisors LLC bought a new stake in shares of Zimmer Biomet during the first quarter valued at approximately $31,000. Naples Money Management LLC purchased a new position in Zimmer Biomet in the 4th quarter worth approximately $35,000. Finally, J.Safra Asset Management Corp boosted its stake in Zimmer Biomet by 712.1% during the 1st quarter. J.Safra Asset Management Corp now owns 268 shares of the medical equipment provider’s stock valued at $35,000 after purchasing an additional 235 shares during the last quarter. 88.89% of the stock is 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.