Truist Financial Lowers Zimmer Biomet (NYSE:ZBH) Price Target to $130.00

Zimmer Biomet (NYSE:ZBH) had its price target reduced by Truist Financial from $137.00 to $130.00 in a research note published on Friday morning, Benzinga reports. Truist Financial currently has a hold rating on the medical equipment provider’s stock.

ZBH has been the topic of several other research reports. Oppenheimer upped their price target on shares of Zimmer Biomet from $150.00 to $155.00 and gave the stock an outperform rating in a research report on Friday. JPMorgan Chase & Co. boosted their price objective on shares of Zimmer Biomet from $115.00 to $125.00 and gave the stock a neutral rating in a research report on Friday, February 9th. TheStreet upgraded Zimmer Biomet from a c rating to a b- rating in a research report on Thursday, February 8th. Royal Bank of Canada reaffirmed an outperform rating and set a $140.00 price target on shares of Zimmer Biomet in a research note on Friday, February 9th. Finally, Evercore ISI boosted their price objective on Zimmer Biomet from $125.00 to $130.00 and gave the stock an in-line rating in a report on Thursday, April 4th. One investment 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.com, Zimmer Biomet presently has a consensus rating of Hold and an average price target of $135.40.

Zimmer Biomet Price Performance

Shares of Zimmer Biomet stock traded up $3.20 during mid-day trading on Friday, reaching $121.66. 1,847,585 shares of the stock were exchanged, compared to its average volume of 1,304,580. Zimmer Biomet has a fifty-two week low of $102.00 and a fifty-two week high of $147.50. The company has a market cap of $25.00 billion, a price-to-earnings ratio of 26.34, a price-to-earnings-growth ratio of 2.17 and a beta of 1.03. The firm has a 50-day simple moving average of $125.45 and a 200 day simple moving average of $119.90. The company has a current ratio of 1.66, a quick ratio of 0.78 and a debt-to-equity ratio of 0.38.

Zimmer Biomet (NYSE:ZBH) last posted its earnings results on Thursday, May 2nd. The medical equipment provider reported $1.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.87 by $0.07. Zimmer Biomet had a net margin of 12.93% and a return on equity of 12.70%. The company had revenue of $1.89 billion during the quarter, compared to analysts’ expectations of $1.87 billion. During the same quarter in the previous year, the company posted $1.89 earnings per share. Zimmer Biomet’s quarterly revenue was up 3.2% compared to the same quarter last year. On average, sell-side analysts predict that Zimmer Biomet will post 8.08 EPS for the current fiscal year.

Zimmer Biomet Announces Dividend

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

Insider Buying and Selling

In other Zimmer Biomet news, VP Chad F. Phipps sold 26,156 shares of the business’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $128.62, for a total transaction of $3,364,184.72. Following the sale, 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 at this link. 0.95% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Zimmer Biomet

Several large investors have recently made changes to their positions in the stock. Schechter Investment Advisors LLC boosted its stake in shares of Zimmer Biomet by 21.6% during the 3rd quarter. Schechter Investment Advisors LLC now owns 4,241 shares of the medical equipment provider’s stock worth $476,000 after acquiring an additional 752 shares during the period. Atria Wealth Solutions Inc. grew its stake in Zimmer Biomet by 5.9% in the 3rd quarter. Atria Wealth Solutions Inc. now owns 20,566 shares of the medical equipment provider’s stock valued at $2,312,000 after buying an additional 1,144 shares during the last quarter. International Assets Investment Management LLC lifted its position in Zimmer Biomet by 11,244.9% during the fourth quarter. International Assets Investment Management LLC now owns 66,935 shares of the medical equipment provider’s stock worth $8,146,000 after acquiring an additional 66,345 shares during the last quarter. Amalgamated Bank boosted its holdings in shares of Zimmer Biomet by 3.0% during the third quarter. Amalgamated Bank now owns 56,166 shares of the medical equipment provider’s stock worth $6,303,000 after acquiring an additional 1,631 shares during the period. Finally, Sequoia Financial Advisors LLC increased its stake in shares of Zimmer Biomet by 37.5% during the fourth quarter. Sequoia Financial Advisors LLC now owns 155,965 shares of the medical equipment provider’s stock worth $18,981,000 after purchasing an additional 42,539 shares during the period. Institutional investors and hedge funds own 88.89% of the company’s stock.

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.