Zimmer Biomet (NYSE:ZBH) Price Target Cut to $115.00 by Analysts at Robert W. Baird

Zimmer Biomet (NYSE:ZBH) had its target price cut by Robert W. Baird from $130.00 to $115.00 in a research report report published on Tuesday morning,Benzinga reports. They currently have an outperform rating on the medical equipment provider’s stock.

Other research analysts have also recently issued research reports about the company. Needham & Company LLC restated a “hold” rating on shares of Zimmer Biomet in a research note on Friday, February 7th. Stifel Nicolaus raised their price objective on Zimmer Biomet from $130.00 to $138.00 and gave the company a “buy” rating in a research report on Thursday, January 23rd. Truist Financial reaffirmed a “hold” rating and issued a $113.00 target price (down from $118.00) on shares of Zimmer Biomet in a research report on Monday, February 10th. Raymond James lowered their price target on shares of Zimmer Biomet from $126.00 to $119.00 and set an “outperform” rating for the company in a research report on Friday, February 7th. Finally, Royal Bank of Canada cut their price objective on shares of Zimmer Biomet from $130.00 to $125.00 and set an “outperform” rating on the stock in a report on Friday, February 7th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, Zimmer Biomet has a consensus rating of “Hold” and an average price target of $115.50.

Zimmer Biomet Stock Performance

NYSE:ZBH opened at $92.44 on Tuesday. The company has a quick ratio of 0.99, a current ratio of 1.91 and a debt-to-equity ratio of 0.43. The firm’s fifty day simple moving average is $105.01 and its 200 day simple moving average is $106.32. The stock has a market cap of $18.29 billion, a P/E ratio of 20.77, a price-to-earnings-growth ratio of 1.95 and a beta of 0.78. Zimmer Biomet has a twelve month low of $89.92 and a twelve month high of $122.25.

Zimmer Biomet (NYSE:ZBH) last announced its earnings results on Monday, May 5th. The medical equipment provider reported $1.81 earnings per share for the quarter, beating analysts’ consensus estimates of $1.77 by $0.04. Zimmer Biomet had a net margin of 11.77% and a return on equity of 12.99%. The firm had revenue of $1.91 billion for the quarter, compared to analyst estimates of $1.89 billion. During the same quarter in the previous year, the firm posted $1.94 EPS. The company’s revenue for the quarter was up 1.1% compared to the same quarter last year. As a group, research analysts predict that Zimmer Biomet will post 8.22 EPS for the current year.

Zimmer Biomet Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st were given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 1.04%. The ex-dividend date of this dividend was Monday, March 31st. Zimmer Biomet’s payout ratio is currently 21.57%.

Insider Buying and Selling

In other Zimmer Biomet news, SVP Lori Winkler sold 1,443 shares of the stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $104.40, for a total value of $150,649.20. Following the transaction, the senior vice president now directly owns 8,768 shares in the company, valued at approximately $915,379.20. This trade represents a 14.13 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.95% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Zimmer Biomet

Hedge funds and other institutional investors have recently modified their holdings of the stock. Roman Butler Fullerton & Co. purchased a new stake in Zimmer Biomet in the fourth quarter worth about $473,000. KLCM Advisors Inc. bought a new position in shares of Zimmer Biomet during the 4th quarter valued at approximately $7,825,000. Peddock Capital Advisors LLC purchased a new stake in Zimmer Biomet in the 4th quarter worth approximately $654,000. Van ECK Associates Corp raised its stake in Zimmer Biomet by 5.9% during the 4th quarter. Van ECK Associates Corp now owns 3,955,449 shares of the medical equipment provider’s stock worth $417,814,000 after acquiring an additional 218,688 shares during the period. Finally, Reinhart Partners LLC. lifted its holdings in Zimmer Biomet by 34.4% during the fourth quarter. Reinhart Partners LLC. now owns 86,755 shares of the medical equipment provider’s stock valued at $9,164,000 after purchasing an additional 22,220 shares in the last quarter. 88.89% of the stock is currently owned by hedge funds and other institutional investors.

About Zimmer Biomet

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.