Zimmer Biomet’s (ZBH) “Hold” Rating Reaffirmed at Truist Financial

Truist Financial reaffirmed their hold rating on shares of Zimmer Biomet (NYSE:ZBH) in a research note released on Friday morning, Benzinga reports. They currently have a $112.00 target price on the medical equipment provider’s stock, down from their previous target price of $117.00.

Other analysts have also recently issued reports about the company. Needham & Company LLC reissued a hold rating on shares of Zimmer Biomet in a report on Thursday, August 8th. Canaccord Genuity Group dropped their target price on Zimmer Biomet from $120.00 to $115.00 and set a hold rating for the company in a report on Tuesday. Robert W. Baird reduced their target price on shares of Zimmer Biomet from $155.00 to $145.00 and set an outperform rating for the company in a research report on Thursday, August 8th. Morgan Stanley dropped their price objective on shares of Zimmer Biomet from $130.00 to $120.00 and set an equal weight rating for the company in a research note on Monday, July 15th. Finally, Piper Sandler downgraded shares of Zimmer Biomet from an overweight rating to a neutral rating and cut their price objective for the company from $140.00 to $115.00 in a report on Monday, July 1st. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, Zimmer Biomet currently has a consensus rating of Hold and an average target price of $125.44.

Zimmer Biomet Stock Performance

Shares of NYSE ZBH opened at $106.26 on Friday. Zimmer Biomet has a 12 month low of $102.00 and a 12 month high of $133.90. The stock has a 50 day moving average of $109.90 and a 200-day moving average of $116.16. The company has a current ratio of 1.29, a quick ratio of 0.63 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $21.64 billion, a P/E ratio of 23.00, a P/E/G ratio of 1.92 and a beta of 1.02.

Zimmer Biomet (NYSE:ZBH) last issued its quarterly earnings data on Wednesday, August 7th. The medical equipment provider reported $2.01 earnings per share for the quarter, beating the consensus estimate 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 analyst estimates of $1.94 billion. During the same period in the prior year, the firm earned $1.82 earnings per share. The company’s revenue was up 3.9% on a year-over-year basis. As a group, equities research analysts predict that Zimmer Biomet will post 8.02 EPS for the current year.

Zimmer Biomet Dividend Announcement

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

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of ZBH. Norges Bank bought a new stake in shares of Zimmer Biomet during the fourth quarter worth about $266,896,000. Price T Rowe Associates Inc. MD grew its holdings in Zimmer Biomet by 12.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 10,642,801 shares of the medical equipment provider’s stock worth $1,404,638,000 after acquiring an additional 1,215,935 shares during the last quarter. American Century Companies Inc. raised its stake in shares of Zimmer Biomet by 12.6% during the second quarter. American Century Companies Inc. now owns 6,463,845 shares of the medical equipment provider’s stock valued at $701,521,000 after acquiring an additional 722,041 shares during the last quarter. Boston Partners lifted its holdings in shares of Zimmer Biomet by 26.3% during the first quarter. Boston Partners now owns 3,314,939 shares of the medical equipment provider’s stock worth $437,413,000 after purchasing an additional 691,191 shares during the period. Finally, Magnetar Financial LLC grew its stake in shares of Zimmer Biomet by 58.7% in the second quarter. Magnetar Financial LLC now owns 1,310,265 shares of the medical equipment provider’s stock worth $142,203,000 after purchasing an additional 484,816 shares during the last quarter. 88.89% of the stock is currently 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.