Zimmer Biomet (NYSE:ZBH) Given New $138.00 Price Target at Stifel Nicolaus

Zimmer Biomet (NYSE:ZBH) had its price target upped by Stifel Nicolaus from $130.00 to $138.00 in a research note published on Thursday morning,Benzinga reports. They currently have a buy rating on the medical equipment provider’s stock.

ZBH has been the topic of a number of other reports. Barclays decreased their target price on Zimmer Biomet from $125.00 to $118.00 and set an “underweight” rating on the stock in a report on Thursday, December 12th. Oppenheimer reduced their price objective on shares of Zimmer Biomet from $145.00 to $135.00 and set an “outperform” rating for the company in a research note on Tuesday, October 15th. JPMorgan Chase & Co. raised shares of Zimmer Biomet from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $125.00 to $128.00 in a research report on Tuesday, December 17th. Royal Bank of Canada upped their price target on shares of Zimmer Biomet from $120.00 to $125.00 and gave the company an “outperform” rating in a research report on Monday, November 4th. Finally, Truist Financial lifted their price objective on shares of Zimmer Biomet from $117.00 to $118.00 and gave the stock a “hold” rating in a research report on Wednesday, December 18th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, Zimmer Biomet has a consensus rating of “Hold” and an average price target of $124.11.

Zimmer Biomet Price Performance

NYSE:ZBH opened at $110.93 on Thursday. Zimmer Biomet has a 52-week low of $100.67 and a 52-week high of $133.90. The company has a quick ratio of 0.70, a current ratio of 1.36 and a debt-to-equity ratio of 0.38. The firm has a market cap of $22.08 billion, a P/E ratio of 21.09, a PEG ratio of 1.89 and a beta of 1.02. The business’s 50-day moving average price is $107.85 and its 200 day moving average price is $108.07.

Zimmer Biomet (NYSE:ZBH) last released its earnings results on Wednesday, October 30th. The medical equipment provider reported $1.74 EPS for the quarter, hitting analysts’ consensus estimates of $1.74. The business had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.80 billion. Zimmer Biomet had a net margin of 14.27% and a return on equity of 12.95%. The business’s revenue for the quarter was up 4.1% on a year-over-year basis. During the same period in the previous year, the firm earned $1.65 EPS. As a group, sell-side analysts predict that Zimmer Biomet will post 7.99 earnings per share for the current fiscal year.

Zimmer Biomet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Monday, December 30th will be paid a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 0.87%. The ex-dividend date is Monday, December 30th. Zimmer Biomet’s payout ratio is presently 18.25%.

Hedge Funds Weigh In On Zimmer Biomet

Several hedge funds have recently bought and sold shares of ZBH. Pacer Advisors Inc. increased its holdings in shares of Zimmer Biomet by 6.9% during the 2nd quarter. Pacer Advisors Inc. now owns 17,590 shares of the medical equipment provider’s stock valued at $1,909,000 after acquiring an additional 1,135 shares during the last quarter. Ensign Peak Advisors Inc grew its holdings in Zimmer Biomet by 247.2% during the second quarter. Ensign Peak Advisors Inc now owns 54,173 shares of the medical equipment provider’s stock valued at $5,879,000 after purchasing an additional 38,568 shares during the last quarter. ProShare Advisors LLC raised its position in shares of Zimmer Biomet by 6.1% in the second quarter. ProShare Advisors LLC now owns 29,927 shares of the medical equipment provider’s stock valued at $3,248,000 after purchasing an additional 1,722 shares during the period. 1832 Asset Management L.P. lifted its stake in shares of Zimmer Biomet by 16.6% in the second quarter. 1832 Asset Management L.P. now owns 16,340 shares of the medical equipment provider’s stock worth $1,773,000 after buying an additional 2,324 shares during the last quarter. Finally, Public Sector Pension Investment Board boosted its holdings in shares of Zimmer Biomet by 74.5% during the 2nd quarter. Public Sector Pension Investment Board now owns 8,020 shares of the medical equipment provider’s stock worth $870,000 after buying an additional 3,423 shares during the period. 88.89% of the stock is owned by institutional investors and hedge funds.

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.