Zimmer Biomet (NYSE:ZBH) PT Lowered to $120.00 at JPMorgan Chase & Co.

Zimmer Biomet (NYSE:ZBH) had its price target decreased by JPMorgan Chase & Co. from $125.00 to $120.00 in a research note issued to investors on Monday, Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the medical equipment provider’s stock.

Several other research analysts have also commented on the stock. The Goldman Sachs Group began coverage on shares of Zimmer Biomet in a research note on Thursday, May 30th. They issued a neutral rating and a $129.00 price objective for the company. UBS Group cut their price target on Zimmer Biomet from $112.00 to $107.00 and set a sell rating on the stock in a report on Thursday, August 8th. Raymond James reduced their price target on Zimmer Biomet from $138.00 to $128.00 and set an outperform rating on the stock in a research report on Thursday, August 8th. Evercore ISI reissued an in-line rating and set a $113.00 price objective on shares of Zimmer Biomet in a research report on Thursday, September 5th. Finally, Truist Financial reaffirmed a hold rating and issued a $112.00 target price (down previously from $117.00) on shares of Zimmer Biomet in a report on Friday, September 13th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of Hold and a consensus price target of $125.17.

Zimmer Biomet Stock Performance

Shares of Zimmer Biomet stock opened at $106.32 on Monday. The business’s fifty day simple moving average is $109.88 and its 200-day simple moving average is $115.65. The company has a quick ratio of 0.63, a current ratio of 1.29 and a debt-to-equity ratio of 0.31. The firm has a market cap of $21.65 billion, a PE ratio of 23.01, a price-to-earnings-growth ratio of 1.96 and a beta of 1.02. Zimmer Biomet has a 52 week low of $102.00 and a 52 week high of $133.90.

Zimmer Biomet (NYSE:ZBH) last posted 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 13.25% and a return on equity of 12.86%. The company had revenue of $1.94 billion for the quarter, compared to analysts’ expectations of $1.94 billion. During the same quarter in the prior year, the company posted $1.82 earnings per share. Zimmer Biomet’s revenue for the quarter was up 3.9% compared to the same quarter last year. Equities analysts forecast that Zimmer Biomet will post 8.02 earnings per share for the current year.

Zimmer Biomet Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 30th will be issued a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 0.90%. The ex-dividend date of this dividend is Monday, September 30th. Zimmer Biomet’s payout ratio is currently 20.78%.

Institutional Investors Weigh In On Zimmer Biomet

Several large investors have recently modified their holdings of ZBH. Chicago Partners Investment Group LLC raised its position in Zimmer Biomet by 3.3% in the 4th quarter. Chicago Partners Investment Group LLC now owns 2,894 shares of the medical equipment provider’s stock valued at $349,000 after purchasing an additional 92 shares during the last quarter. North Star Investment Management Corp. boosted its stake in shares of Zimmer Biomet by 16.6% during the first quarter. North Star Investment Management Corp. now owns 669 shares of the medical equipment provider’s stock worth $88,000 after buying an additional 95 shares during the period. First Bancorp Inc ME boosted its stake in shares of Zimmer Biomet by 5.3% during the first quarter. First Bancorp Inc ME now owns 1,970 shares of the medical equipment provider’s stock worth $260,000 after buying an additional 100 shares during the period. Ballentine Partners LLC grew its holdings in shares of Zimmer Biomet by 2.6% during the first quarter. Ballentine Partners LLC now owns 3,957 shares of the medical equipment provider’s stock worth $522,000 after buying an additional 100 shares during the last quarter. Finally, Romano Brothers AND Company raised its stake in Zimmer Biomet by 1.1% during the 1st quarter. Romano Brothers AND Company now owns 9,514 shares of the medical equipment provider’s stock valued at $1,256,000 after acquiring an additional 100 shares during the last quarter. 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.