Morgan Stanley Raises Zimmer Biomet (NYSE:ZBH) Price Target to $120.00

Zimmer Biomet (NYSE:ZBHGet Rating) had its price objective increased by Morgan Stanley from $115.00 to $120.00 in a research report sent to investors on Wednesday, MarketBeat reports. Morgan Stanley currently has an equal weight rating on the medical equipment provider’s stock.

Several other research analysts have also recently commented on the stock. Stifel Nicolaus lowered their target price on shares of Zimmer Biomet from $140.00 to $120.00 in a report on Monday, July 18th. StockNews.com cut shares of Zimmer Biomet from a buy rating to a hold rating in a report on Thursday, May 12th. Truist Financial lowered their target price on shares of Zimmer Biomet to $115.00 in a report on Friday, July 22nd. Needham & Company LLC cut shares of Zimmer Biomet from a buy rating to a hold rating in a report on Friday, May 27th. Finally, Citigroup raised their target price on shares of Zimmer Biomet from $114.00 to $119.00 in a report on Wednesday. Two investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of Hold and a consensus target price of $133.50.

Zimmer Biomet Stock Down 0.1 %

Zimmer Biomet stock opened at $113.26 on Wednesday. The stock has a market cap of $23.74 billion, a P/E ratio of 103.91, a P/E/G ratio of 2.62 and a beta of 1.15. The company has a quick ratio of 0.89, a current ratio of 1.81 and a debt-to-equity ratio of 0.43. Zimmer Biomet has a twelve month low of $100.39 and a twelve month high of $153.76. The company’s 50-day moving average price is $109.35 and its two-hundred day moving average price is $117.72.

Zimmer Biomet (NYSE:ZBHGet Rating) last released its quarterly earnings results on Tuesday, August 2nd. The medical equipment provider reported $1.82 earnings per share for the quarter, beating the consensus estimate of $1.65 by $0.17. The firm had revenue of $1.78 billion for the quarter, compared to analysts’ expectations of $1.72 billion. Zimmer Biomet had a net margin of 3.10% and a return on equity of 12.20%. The business’s revenue was up 1.0% on a year-over-year basis. During the same period in the prior year, the firm earned $1.90 EPS. As a group, analysts expect that Zimmer Biomet will post 6.79 EPS for the current year.

Zimmer Biomet Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, July 29th. Stockholders of record on Monday, June 27th were issued a dividend of $0.24 per share. The ex-dividend date of this dividend was Friday, June 24th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.85%. Zimmer Biomet’s dividend payout ratio (DPR) is presently 88.07%.

Insider Transactions at Zimmer Biomet

In other news, insider Zuilen Wilfred Van sold 531 shares of Zimmer Biomet stock in a transaction on Tuesday, July 5th. The shares were sold at an average price of $105.22, for a total transaction of $55,871.82. Following the transaction, the insider now owns 2,240 shares in the company, valued at $235,692.80. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.73% of the stock is owned by company insiders.

Hedge Funds Weigh In On Zimmer Biomet

Several hedge funds and other institutional investors have recently bought and sold shares of ZBH. National Asset Management Inc. lifted its holdings in Zimmer Biomet by 13.3% in the fourth quarter. National Asset Management Inc. now owns 3,765 shares of the medical equipment provider’s stock valued at $478,000 after buying an additional 443 shares during the period. Yousif Capital Management LLC acquired a new position in Zimmer Biomet in the fourth quarter valued at $4,423,000. CWM LLC acquired a new position in Zimmer Biomet in the fourth quarter valued at $1,184,000. Xponance Inc. increased its stake in Zimmer Biomet by 24.2% in the fourth quarter. Xponance Inc. now owns 13,153 shares of the medical equipment provider’s stock valued at $1,671,000 after purchasing an additional 2,561 shares in the last quarter. Finally, Ieq Capital LLC increased its stake in Zimmer Biomet by 23.1% in the fourth quarter. Ieq Capital LLC now owns 2,496 shares of the medical equipment provider’s stock valued at $317,000 after purchasing an additional 469 shares in the last quarter. Institutional investors and hedge funds own 90.34% of the company’s stock.

Zimmer Biomet Company Profile

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Zimmer Biomet Holdings, Inc, together with its subsidiaries, operates in the musculoskeletal healthcare business in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company designs, manufactures, and markets orthopaedic reconstructive products, such as knee and hip products; S.E.T.

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