Zimmer Biomet (NYSE:ZBH) Given Hold Rating at Needham & Company LLC

Needham & Company LLC reissued their hold rating on shares of Zimmer Biomet (NYSE:ZBH) in a research note published on Thursday, Benzinga reports.

Other equities research analysts have also recently issued research reports about the stock. Royal Bank of Canada reissued an outperform rating and set a $140.00 target price on shares of Zimmer Biomet in a report on Friday, February 9th. Barclays increased their price objective on Zimmer Biomet from $120.00 to $130.00 and gave the stock an underweight rating in a report on Monday, February 12th. Truist Financial lifted their target price on Zimmer Biomet from $133.00 to $135.00 and gave the company a hold rating in a report on Friday, February 9th. StockNews.com downgraded shares of Zimmer Biomet from a strong-buy rating to a buy rating in a report on Monday, February 19th. Finally, Evercore ISI boosted their price objective on shares of Zimmer Biomet from $125.00 to $130.00 and gave the company an in-line rating in a research note on Thursday, April 4th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of Hold and a consensus price target of $135.40.

Zimmer Biomet Stock Performance

Shares of NYSE ZBH traded up $3.20 during trading on Thursday, reaching $121.66. 1,847,585 shares of the stock traded hands, compared to its average volume of 1,304,580. The company has a 50-day moving average of $125.45 and a 200-day moving average of $119.90. Zimmer Biomet has a 52-week low of $102.00 and a 52-week high of $147.50. The stock has a market capitalization of $25.00 billion, a P/E ratio of 26.34, a price-to-earnings-growth ratio of 2.17 and a beta of 1.03. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.66 and a quick ratio of 0.78.

Zimmer Biomet (NYSE:ZBH) last released its quarterly earnings data on Thursday, May 2nd. The medical equipment provider reported $1.94 EPS for the quarter, beating the consensus estimate of $1.87 by $0.07. The business had revenue of $1.89 billion for the quarter, compared to the consensus estimate of $1.87 billion. Zimmer Biomet had a net margin of 12.93% and a return on equity of 12.70%. The company’s revenue was up 3.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.89 earnings per share. Analysts forecast that Zimmer Biomet will post 8.08 EPS for the current fiscal year.

Zimmer Biomet Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 30th. Shareholders of record on Friday, March 29th were paid a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 0.79%. The ex-dividend date was Wednesday, March 27th. Zimmer Biomet’s dividend payout ratio is presently 20.78%.

Insider Activity

In other Zimmer Biomet news, VP Chad F. Phipps sold 26,156 shares of Zimmer Biomet stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $128.62, for a total value of $3,364,184.72. Following the transaction, the vice president now directly owns 44,145 shares of the company’s stock, valued at approximately $5,677,929.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.95% of the company’s stock.

Hedge Funds Weigh In On Zimmer Biomet

Hedge funds and other institutional investors have recently modified their holdings of the company. OLD Point Trust & Financial Services N A purchased a new stake in Zimmer Biomet in the fourth quarter worth $26,000. Ables Iannone Moore & Associates Inc. bought a new position in Zimmer Biomet in the 4th quarter worth $30,000. Naples Money Management LLC purchased a new stake in shares of Zimmer Biomet in the 4th quarter worth about $35,000. Activest Wealth Management boosted its stake in shares of Zimmer Biomet by 410.4% during the 4th quarter. Activest Wealth Management now owns 342 shares of the medical equipment provider’s stock valued at $42,000 after purchasing an additional 275 shares in the last quarter. Finally, Peoples Bank KS purchased a new position in shares of Zimmer Biomet during the third quarter valued at about $48,000. 88.89% of the stock is owned by 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.