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

Zimmer Biomet (NYSE:ZBH) had its price objective increased by Truist Financial from $112.00 to $117.00 in a research note issued to investors on Friday morning, Benzinga reports. The firm currently has a hold rating on the medical equipment provider’s stock.

A number of other analysts have also recently commented on ZBH. TD Cowen lowered their target price on shares of Zimmer Biomet from $143.00 to $119.00 and set a “hold” rating for the company in a research note on Friday, September 6th. Wolfe Research assumed coverage on Zimmer Biomet in a research report on Tuesday, September 10th. They issued a “peer perform” rating on the stock. Raymond James dropped their price target on Zimmer Biomet from $128.00 to $123.00 and set an “outperform” rating on the stock in a research note on Monday, October 14th. Robert W. Baird decreased their target price 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, Evercore ISI dropped their price objective on shares of Zimmer Biomet from $113.00 to $110.00 and set an “in-line” rating on the stock in a report on Tuesday, October 1st. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, Zimmer Biomet has an average rating of “Hold” and an average price target of $123.84.

Zimmer Biomet Stock Up 0.3 %

Shares of NYSE:ZBH traded up $0.35 during trading hours on Friday, hitting $107.27. The company’s stock had a trading volume of 1,905,699 shares, compared to its average volume of 1,409,299. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.36 and a quick ratio of 0.63. The company has a market capitalization of $21.35 billion, a price-to-earnings ratio of 20.39, a P/E/G ratio of 1.96 and a beta of 1.02. The firm’s fifty day moving average price is $106.96 and its 200 day moving average price is $110.89. Zimmer Biomet has a 52 week low of $101.47 and a 52 week high of $133.90.

Zimmer Biomet (NYSE:ZBH) last announced its earnings results on Wednesday, October 30th. The medical equipment provider reported $1.74 EPS for the quarter, missing analysts’ consensus estimates of $1.75 by ($0.01). The firm had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.80 billion. Zimmer Biomet had a return on equity of 12.95% and a net margin of 14.27%. The business’s revenue for the quarter was up 4.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.65 earnings per share. As a group, research analysts expect that Zimmer Biomet will post 7.99 EPS for the current year.

Zimmer Biomet Dividend Announcement

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

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC grew its position in shares of Zimmer Biomet by 22.5% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 15,346 shares of the medical equipment provider’s stock valued at $2,025,000 after purchasing an additional 2,820 shares in the last quarter. First Trust Direct Indexing L.P. boosted its position in shares of Zimmer Biomet by 2.5% during the 1st quarter. First Trust Direct Indexing L.P. now owns 7,523 shares of the medical equipment provider’s stock valued at $993,000 after acquiring an additional 184 shares during the last quarter. Maryland State Retirement & Pension System increased its position in Zimmer Biomet by 2.8% during the first quarter. Maryland State Retirement & Pension System now owns 16,479 shares of the medical equipment provider’s stock worth $1,996,000 after purchasing an additional 445 shares during the last quarter. Ashton Thomas Private Wealth LLC raised its stake in Zimmer Biomet by 3.8% during the first quarter. Ashton Thomas Private Wealth LLC now owns 5,514 shares of the medical equipment provider’s stock worth $728,000 after purchasing an additional 200 shares during the period. Finally, Private Advisor Group LLC grew its stake in shares of Zimmer Biomet by 2.2% in the 1st quarter. Private Advisor Group LLC now owns 10,846 shares of the medical equipment provider’s stock valued at $1,431,000 after buying an additional 236 shares during the period. 88.89% of the stock is owned by institutional investors and hedge funds.

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.