Zimmer Biomet (NYSE:ZBH) Given Outperform Rating at Royal Bank of Canada

Royal Bank of Canada reaffirmed their outperform rating on shares of Zimmer Biomet (NYSE:ZBHFree Report) in a research note published on Friday morning, Benzinga reports. The brokerage currently has a $140.00 target price on the medical equipment provider’s stock.

A number of other equities analysts have also commented on the company. Truist Financial increased their price target on Zimmer Biomet from $115.00 to $133.00 and gave the company a hold rating in a research note on Friday, December 22nd. JPMorgan Chase & Co. lowered their price objective on Zimmer Biomet from $146.00 to $115.00 and set a neutral rating for the company in a research note on Wednesday, November 8th. JMP Securities lowered their price objective on Zimmer Biomet from $160.00 to $140.00 and set a market outperform rating for the company in a research note on Monday, November 13th. Evercore ISI lowered Zimmer Biomet from an outperform rating to an inline rating and lowered their price objective for the company from $135.00 to $125.00 in a research note on Thursday, January 4th. Finally, Raymond James raised their price objective on Zimmer Biomet from $133.00 to $137.00 and gave the company an outperform rating in a research note on Wednesday, January 3rd. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of Hold and an average target price of $138.63.

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Zimmer Biomet Stock Performance

NYSE ZBH opened at $125.85 on Friday. The firm has a market cap of $26.30 billion, a price-to-earnings ratio of 25.74, a price-to-earnings-growth ratio of 2.23 and a beta of 1.03. The company has a quick ratio of 0.78, a current ratio of 1.61 and a debt-to-equity ratio of 0.39. The business has a 50-day moving average price of $121.57 and a 200-day moving average price of $117.25. Zimmer Biomet has a twelve month low of $102.00 and a twelve month high of $149.25.

Zimmer Biomet (NYSE:ZBHGet Free Report) last announced its quarterly earnings results on Thursday, February 8th. The medical equipment provider reported $2.20 EPS for the quarter, beating analysts’ consensus estimates of $2.15 by $0.05. Zimmer Biomet had a return on equity of 12.79% and a net margin of 13.85%. The company had revenue of $1.94 billion during the quarter, compared to analyst estimates of $1.93 billion. During the same period in the prior year, the company earned $1.88 earnings per share. The firm’s revenue was up 6.3% on a year-over-year basis. As a group, equities research analysts predict that Zimmer Biomet will post 8.03 EPS for the current fiscal year.

Zimmer Biomet Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 31st. Shareholders of record on Wednesday, December 27th were paid a dividend of $0.24 per share. The ex-dividend date of this dividend was Tuesday, December 26th. This represents a $0.96 annualized dividend and a yield of 0.76%. Zimmer Biomet’s payout ratio is presently 19.63%.

Institutional Trading of Zimmer Biomet

Several large investors have recently added to or reduced their stakes in ZBH. Clear Street Markets LLC purchased a new stake in Zimmer Biomet during the 4th quarter valued at about $27,000. Horizon Bancorp Inc. IN boosted its stake in shares of Zimmer Biomet by 1,483.3% in the second quarter. Horizon Bancorp Inc. IN now owns 190 shares of the medical equipment provider’s stock worth $28,000 after buying an additional 178 shares during the last quarter. Lazard Asset Management LLC boosted its stake in shares of Zimmer Biomet by 70.5% in the third quarter. Lazard Asset Management LLC now owns 283 shares of the medical equipment provider’s stock worth $31,000 after buying an additional 117 shares during the last quarter. OLD Point Trust & Financial Services N A purchased a new stake in shares of Zimmer Biomet in the second quarter worth about $32,000. Finally, Naples Money Management LLC purchased a new stake in shares of Zimmer Biomet in the fourth quarter worth about $35,000. Hedge funds and other institutional investors own 87.48% of the company’s stock.

Zimmer Biomet Company Profile

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Zimmer Biomet Holdings, Inc, together with its subsidiaries, operates as a medical technology company 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. 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.

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