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

Zimmer Biomet (NYSE:ZBH) had its target price upped by Truist Financial from $117.00 to $118.00 in a research report sent to investors on Wednesday morning,Benzinga reports. The firm currently has a hold rating on the medical equipment provider’s stock.

Other equities research analysts also recently issued research reports about the stock. Oppenheimer decreased their price target on shares of Zimmer Biomet from $145.00 to $135.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 15th. Wells Fargo & Company upped their target price on shares of Zimmer Biomet from $110.00 to $117.00 and gave the company an “equal weight” rating in a research note on Thursday, October 31st. Needham & Company LLC restated a “hold” rating on shares of Zimmer Biomet in a research note on Thursday, October 31st. Wolfe Research began coverage on Zimmer Biomet in a report on Tuesday, September 10th. They set a “peer perform” rating on the stock. Finally, Canaccord Genuity Group dropped their target price on Zimmer Biomet from $120.00 to $115.00 and set a “hold” rating for the company in a report on Tuesday, September 10th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $123.33.

Zimmer Biomet Stock Performance

NYSE:ZBH opened at $105.86 on Wednesday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.70 and a current ratio of 1.36. The firm’s 50-day moving average is $107.95 and its 200-day moving average is $108.53. Zimmer Biomet has a 52-week low of $101.47 and a 52-week high of $133.90. The company has a market cap of $21.07 billion, a price-to-earnings ratio of 20.13, a PEG ratio of 1.96 and a beta of 1.02.

Zimmer Biomet (NYSE:ZBH) last posted its quarterly earnings results on Wednesday, October 30th. The medical equipment provider reported $1.74 EPS for the quarter, meeting the consensus estimate of $1.74. Zimmer Biomet had a return on equity of 12.95% and a net margin of 14.27%. The firm had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $1.80 billion. During the same quarter in the prior year, the firm posted $1.65 EPS. The company’s revenue for the quarter was up 4.1% on a year-over-year basis. Equities research analysts anticipate that Zimmer Biomet will post 7.99 earnings per share for the current year.

Zimmer Biomet Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Monday, December 30th will be given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 0.91%. Zimmer Biomet’s payout ratio is 18.25%.

Institutional Investors Weigh In On Zimmer Biomet

Institutional investors and hedge funds have recently modified their holdings of the business. Dunhill Financial LLC raised its position in shares of Zimmer Biomet by 1,090.0% during the 3rd quarter. Dunhill Financial LLC now owns 238 shares of the medical equipment provider’s stock valued at $26,000 after acquiring an additional 218 shares during the last quarter. Ashton Thomas Securities LLC bought a new stake in Zimmer Biomet in the third quarter valued at about $28,000. Bangor Savings Bank acquired a new position in Zimmer Biomet in the third quarter valued at about $31,000. Family Firm Inc. bought a new position in Zimmer Biomet during the second quarter worth about $33,000. Finally, Brooklyn Investment Group acquired a new position in shares of Zimmer Biomet during the 3rd quarter worth about $35,000. 88.89% of the stock is owned by institutional investors.

About Zimmer Biomet

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.