Zimmer Biomet’s (ZBH) Hold Rating Reiterated at Needham & Company LLC

Needham & Company LLC reiterated their hold rating on shares of Zimmer Biomet (NYSE:ZBH) in a research report released on Tuesday morning, Benzinga reports.

Several other research analysts also recently weighed in on ZBH. Robert W. Baird dropped their price target on Zimmer Biomet from $155.00 to $145.00 and set an outperform rating for the company in a research note on Thursday, August 8th. Wolfe Research started coverage on Zimmer Biomet in a research report on Tuesday, September 10th. They set a peer perform rating for the company. Citigroup decreased their target price on Zimmer Biomet from $134.00 to $120.00 and set a neutral rating on the stock in a research report on Wednesday, July 10th. Morgan Stanley cut their price target on Zimmer Biomet from $130.00 to $120.00 and set an equal weight rating for the company in a report on Monday, July 15th. Finally, Piper Sandler cut Zimmer Biomet from an overweight rating to a neutral rating and decreased their price objective for the stock 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 assigned a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, Zimmer Biomet has an average rating of Hold and an average price target of $125.17.

Zimmer Biomet Price Performance

NYSE ZBH opened at $106.32 on Tuesday. The business’s fifty day moving average is $109.88 and its 200 day moving average is $115.65. Zimmer Biomet has a fifty-two week low of $102.00 and a fifty-two week high of $133.90. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.63 and a current ratio of 1.29. The company has a market capitalization of $21.65 billion, a PE ratio of 23.01, a price-to-earnings-growth ratio of 1.96 and a beta of 1.02.

Zimmer Biomet (NYSE:ZBH) last posted its quarterly earnings data on Wednesday, August 7th. The medical equipment provider reported $2.01 earnings per share for the quarter, beating analysts’ consensus estimates of $1.99 by $0.02. Zimmer Biomet had a return on equity of 12.86% and a net margin of 13.25%. The firm had revenue of $1.94 billion for the quarter, compared to analysts’ expectations of $1.94 billion. During the same period in the previous year, the firm earned $1.82 EPS. The business’s quarterly revenue was up 3.9% on a year-over-year basis. Sell-side analysts predict that Zimmer Biomet will post 8.02 earnings per share for the current year.

Zimmer Biomet Announces Dividend

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

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in ZBH. OLD Point Trust & Financial Services N A bought a new position in shares of Zimmer Biomet in the 4th quarter worth $26,000. Ables Iannone Moore & Associates Inc. bought a new position in Zimmer Biomet in the fourth quarter worth about $30,000. Crewe Advisors LLC purchased a new stake in shares of Zimmer Biomet during the first quarter valued at about $31,000. Family Firm Inc. bought a new stake in shares of Zimmer Biomet in the 2nd quarter valued at about $33,000. Finally, J.Safra Asset Management Corp grew its position in shares of Zimmer Biomet by 712.1% in the 1st quarter. J.Safra Asset Management Corp now owns 268 shares of the medical equipment provider’s stock worth $35,000 after buying an additional 235 shares during the last quarter. Hedge funds and other 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.