Truist Financial Reaffirms Hold Rating for Zimmer Biomet (NYSE:ZBH)

Truist Financial reaffirmed their hold rating on shares of Zimmer Biomet (NYSE:ZBH) in a research report released on Monday,Benzinga reports. They currently have a $113.00 price target on the medical equipment provider’s stock, down from their prior price target of $118.00.

A number of other analysts have also recently commented on ZBH. Needham & Company LLC reiterated a “hold” rating on shares of Zimmer Biomet in a research report on Friday, February 7th. Royal Bank of Canada reduced their price target on shares of Zimmer Biomet from $130.00 to $125.00 and set an “outperform” rating for the company in a research report on Friday, February 7th. Wells Fargo & Company raised their price objective on shares of Zimmer Biomet from $110.00 to $117.00 and gave the stock an “equal weight” rating in a report on Thursday, October 31st. Stifel Nicolaus upped their target price on shares of Zimmer Biomet from $130.00 to $138.00 and gave the company a “buy” rating in a report on Thursday, January 23rd. Finally, Raymond James decreased their price target on shares of Zimmer Biomet from $126.00 to $119.00 and set an “outperform” rating on the stock in a research report on Friday, February 7th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $124.15.

Zimmer Biomet Price Performance

Zimmer Biomet stock opened at $98.98 on Monday. The firm has a market cap of $19.70 billion, a price-to-earnings ratio of 22.24, a PEG ratio of 1.83 and a beta of 1.02. The company has a current ratio of 1.91, a quick ratio of 0.70 and a debt-to-equity ratio of 0.43. Zimmer Biomet has a 12 month low of $97.69 and a 12 month high of $133.90. The stock has a fifty day simple moving average of $106.91 and a two-hundred day simple moving average of $107.91.

Zimmer Biomet (NYSE:ZBH) last announced its quarterly earnings results on Thursday, February 6th. The medical equipment provider reported $2.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.30 by $0.01. Zimmer Biomet had a net margin of 11.77% and a return on equity of 12.99%. During the same quarter in the prior year, the firm posted $2.20 EPS. Equities analysts predict that Zimmer Biomet will post 8.25 EPS for the current fiscal year.

Zimmer Biomet Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Monday, December 30th were issued a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 0.97%. The ex-dividend date of this dividend was Monday, December 30th. Zimmer Biomet’s dividend payout ratio (DPR) is presently 21.57%.

Hedge Funds Weigh In On Zimmer Biomet

Several institutional investors have recently bought and sold shares of the stock. Atlas Capital Advisors Inc. grew its holdings in Zimmer Biomet by 2,385.5% during the 4th quarter. Atlas Capital Advisors Inc. now owns 4,126 shares of the medical equipment provider’s stock valued at $436,000 after buying an additional 3,960 shares in the last quarter. Magellan Asset Management Ltd boosted its position in shares of Zimmer Biomet by 43.7% during the 4th quarter. Magellan Asset Management Ltd now owns 394,374 shares of the medical equipment provider’s stock valued at $41,658,000 after acquiring an additional 119,869 shares during the last quarter. ExodusPoint Capital Management LP grew its holdings in shares of Zimmer Biomet by 22.0% in the fourth quarter. ExodusPoint Capital Management LP now owns 183,395 shares of the medical equipment provider’s stock valued at $19,372,000 after purchasing an additional 33,086 shares in the last quarter. Cinctive Capital Management LP bought a new stake in Zimmer Biomet in the fourth quarter worth $4,412,000. Finally, Huntington National Bank raised its stake in Zimmer Biomet by 17.2% during the fourth quarter. Huntington National Bank now owns 7,013 shares of the medical equipment provider’s stock valued at $741,000 after purchasing an additional 1,027 shares in the last quarter. 88.89% of the stock is owned by hedge funds and other institutional investors.

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.