Zimmer Biomet (NYSE:ZBH) PT Lowered to $120.00

Zimmer Biomet (NYSE:ZBHGet Rating) had its price target trimmed by Piper Sandler from $130.00 to $120.00 in a report released on Tuesday, The Fly reports.

ZBH has been the topic of a number of other reports. Needham & Company LLC cut Zimmer Biomet from a buy rating to a hold rating in a report on Friday, May 27th. Stifel Nicolaus cut their price target on Zimmer Biomet from $140.00 to $120.00 in a report on Monday, July 18th. StockNews.com cut Zimmer Biomet from a buy rating to a hold rating in a report on Thursday, May 12th. Truist Financial cut their price target on Zimmer Biomet to $115.00 in a report on Friday, July 22nd. Finally, Morgan Stanley cut their price target on Zimmer Biomet from $132.00 to $115.00 and set an equal weight rating on the stock in a report on Friday, July 15th. Two analysts have rated the stock with a sell rating, fifteen have given a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of Hold and an average price target of $133.50.

Zimmer Biomet Stock Performance

Zimmer Biomet stock opened at $113.26 on Tuesday. The business has a 50 day moving average of $109.35 and a 200-day moving average of $117.72. Zimmer Biomet has a 1 year low of $100.39 and a 1 year high of $153.76. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.81 and a quick ratio of 0.89. The company has a market capitalization 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.

Zimmer Biomet (NYSE:ZBHGet Rating) last released its earnings results on Tuesday, August 2nd. The medical equipment provider reported $1.82 earnings per share for the quarter, beating analysts’ consensus estimates of $1.65 by $0.17. The business had revenue of $1.78 billion during the quarter, compared to the consensus estimate of $1.72 billion. Zimmer Biomet had a net margin of 3.10% and a return on equity of 12.20%. The company’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.90 EPS. On average, equities research analysts predict that Zimmer Biomet will post 6.79 earnings per share for the current year.

Zimmer Biomet Announces Dividend

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

Insider Buying and Selling

In related news, insider Zuilen Wilfred Van sold 531 shares of Zimmer Biomet stock in a transaction dated Tuesday, July 5th. The stock was sold at an average price of $105.22, for a total value of $55,871.82. Following the completion of the sale, the insider now owns 2,240 shares of the company’s stock, valued at approximately $235,692.80. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.73% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in Zimmer Biomet by 19.0% in the 1st quarter. Vanguard Group Inc. now owns 23,102,761 shares of the medical equipment provider’s stock worth $2,954,843,000 after purchasing an additional 3,695,510 shares during the period. BlackRock Inc. boosted its position in shares of Zimmer Biomet by 0.9% during the 4th quarter. BlackRock Inc. now owns 21,761,864 shares of the medical equipment provider’s stock valued at $2,764,628,000 after acquiring an additional 196,353 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of Zimmer Biomet by 11.5% during the 1st quarter. JPMorgan Chase & Co. now owns 12,772,584 shares of the medical equipment provider’s stock valued at $1,633,612,000 after acquiring an additional 1,321,955 shares during the last quarter. State Street Corp boosted its position in shares of Zimmer Biomet by 3.3% during the 4th quarter. State Street Corp now owns 9,029,019 shares of the medical equipment provider’s stock valued at $1,149,182,000 after acquiring an additional 290,402 shares during the last quarter. Finally, American Century Companies Inc. boosted its position in shares of Zimmer Biomet by 4.9% during the 1st quarter. American Century Companies Inc. now owns 5,837,756 shares of the medical equipment provider’s stock valued at $746,649,000 after acquiring an additional 272,469 shares during the last quarter. Institutional investors 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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