Zimmer Biomet (NYSE:ZBH) Price Target Cut to $130.00 by Analysts at Royal Bank of Canada

Zimmer Biomet (NYSE:ZBH) had its price target lowered by Royal Bank of Canada from $140.00 to $130.00 in a research note released on Thursday, Benzinga reports. Royal Bank of Canada currently has an outperform rating on the medical equipment provider’s stock.

Other equities research analysts have also issued reports about the stock. Raymond James lowered their price target on shares of Zimmer Biomet from $138.00 to $128.00 and set an outperform rating for the company in a report on Thursday. Truist Financial decreased their price objective on shares of Zimmer Biomet from $130.00 to $117.00 and set a hold rating for the company in a report on Tuesday, July 16th. Argus raised shares of Zimmer Biomet from a hold rating to a buy rating and set a $150.00 price objective for the company in a report on Tuesday, May 21st. Piper Sandler lowered shares of Zimmer Biomet from an overweight rating to a neutral rating and decreased their price objective for the stock from $140.00 to $115.00 in a report on Monday, July 1st. Finally, Robert W. Baird decreased their price objective on shares of Zimmer Biomet from $155.00 to $145.00 and set an outperform rating for the company in a report on Thursday. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, Zimmer Biomet presently has an average rating of Hold and a consensus target price of $127.67.

Zimmer Biomet Trading Down 0.6 %

NYSE:ZBH traded down $0.62 during trading hours on Thursday, reaching $108.08. 1,161,469 shares of the company were exchanged, compared to its average volume of 1,502,015. 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 firm has a market cap of $22.24 billion, a price-to-earnings ratio of 23.39, a PEG ratio of 1.97 and a beta of 1.01. Zimmer Biomet has a 52-week low of $102.00 and a 52-week high of $133.90. The stock has a 50 day simple moving average of $109.12 and a 200 day simple moving average of $118.71.

Zimmer Biomet (NYSE:ZBH) last issued its earnings results on Wednesday, August 7th. The medical equipment provider reported $2.01 EPS for the quarter, beating analysts’ consensus estimates of $1.99 by $0.02. Zimmer Biomet had a net margin of 12.93% and a return on equity of 12.70%. The business had revenue of $1.94 billion for the quarter, compared to the consensus estimate of $1.94 billion. During the same quarter last year, the firm posted $1.82 EPS. The business’s revenue for the quarter was up 3.9% compared to the same quarter last year. As a group, analysts predict that Zimmer Biomet will post 8.1 EPS for the current year.

Zimmer Biomet Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 31st. Investors of record on Wednesday, June 26th were paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 0.89%. The ex-dividend date of this dividend was Wednesday, June 26th. Zimmer Biomet’s dividend payout ratio is presently 20.78%.

Institutional Investors Weigh In On Zimmer Biomet

A number of large investors have recently made changes to their positions in ZBH. International Assets Investment Management LLC raised its holdings in shares of Zimmer Biomet by 11,244.9% during the fourth quarter. International Assets Investment Management LLC now owns 66,935 shares of the medical equipment provider’s stock valued at $8,146,000 after acquiring an additional 66,345 shares during the period. Stratos Wealth Partners LTD. raised its holdings in shares of Zimmer Biomet by 4.2% during the fourth quarter. Stratos Wealth Partners LTD. now owns 9,880 shares of the medical equipment provider’s stock valued at $1,202,000 after acquiring an additional 402 shares during the period. Meeder Advisory Services Inc. acquired a new stake in shares of Zimmer Biomet during the fourth quarter valued at approximately $230,000. Impax Asset Management Group plc increased its stake in Zimmer Biomet by 6.9% in the 4th quarter. Impax Asset Management Group plc now owns 4,601 shares of the medical equipment provider’s stock valued at $560,000 after buying an additional 297 shares during the period. Finally, Cerity Partners LLC increased its stake in Zimmer Biomet by 40.8% in the 4th quarter. Cerity Partners LLC now owns 17,344 shares of the medical equipment provider’s stock valued at $2,112,000 after buying an additional 5,024 shares during the period. 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.