Zimmer Biomet (NYSE:ZBH) Price Target Raised to $155.00

Zimmer Biomet (NYSE:ZBH) had its price objective boosted by Oppenheimer from $150.00 to $155.00 in a report released on Friday morning, Benzinga reports. They currently have an outperform rating on the medical equipment provider’s stock.

Several other analysts have also recently commented on ZBH. Needham & Company LLC restated a hold rating on shares of Zimmer Biomet in a research note on Thursday. Evercore ISI boosted their price target on Zimmer Biomet from $125.00 to $130.00 and gave the stock an in-line rating in a research report on Thursday, April 4th. StockNews.com lowered Zimmer Biomet from a strong-buy rating to a buy rating in a report on Monday, February 19th. Truist Financial boosted their target price on Zimmer Biomet from $133.00 to $135.00 and gave the stock a hold rating in a report on Friday, February 9th. Finally, Citigroup raised their price target on shares of Zimmer Biomet from $134.00 to $140.00 and gave the stock a neutral rating in a report on Wednesday, April 3rd. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of Hold and a consensus target price of $135.40.

Zimmer Biomet Trading Up 2.7 %

NYSE ZBH traded up $3.20 during trading on Friday, hitting $121.66. The stock had a trading volume of 1,847,585 shares, compared to its average volume of 1,304,580. The stock has a 50 day simple moving average of $125.45 and a 200 day simple moving average of $119.90. Zimmer Biomet has a one year low of $102.00 and a one year high of $147.50. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.78 and a current ratio of 1.66. The stock has a market capitalization of $25.00 billion, a price-to-earnings ratio of 26.34, a P/E/G ratio of 2.17 and a beta of 1.03.

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

Zimmer Biomet Dividend Announcement

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

Insiders Place Their Bets

In other 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 value of $3,364,184.72. Following the completion of the sale, the vice president now owns 44,145 shares of the company’s stock, valued at approximately $5,677,929.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.95% of the stock is owned by company insiders.

Institutional Investors Weigh In On Zimmer Biomet

A number of hedge funds have recently made changes to their positions in ZBH. Norges Bank acquired a new position in shares of Zimmer Biomet in the fourth quarter worth about $266,896,000. American Century Companies Inc. boosted its position in Zimmer Biomet by 21.2% during the third quarter. American Century Companies Inc. now owns 4,863,741 shares of the medical equipment provider’s stock valued at $545,809,000 after purchasing an additional 852,186 shares during the last quarter. Boston Partners grew its stake in Zimmer Biomet by 29.2% in the third quarter. Boston Partners now owns 2,694,832 shares of the medical equipment provider’s stock valued at $302,366,000 after purchasing an additional 608,959 shares in the last quarter. Barclays PLC lifted its stake in Zimmer Biomet by 129.2% in the third quarter. Barclays PLC now owns 1,072,494 shares of the medical equipment provider’s stock valued at $120,356,000 after acquiring an additional 604,652 shares during the last quarter. Finally, Van ECK Associates Corp lifted its position in Zimmer Biomet by 23.7% during the 4th quarter. Van ECK Associates Corp now owns 2,838,558 shares of the medical equipment provider’s stock worth $345,452,000 after acquiring an additional 543,344 shares during the last quarter. Institutional investors 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.