Zimmer Biomet (NYSE:ZBH) Price Target Lowered to $145.00 at Robert W. Baird

Zimmer Biomet (NYSE:ZBH) had its price target reduced by Robert W. Baird from $155.00 to $145.00 in a research report released on Thursday, Benzinga reports. They currently have an outperform rating on the medical equipment provider’s stock.

ZBH has been the topic of a number of other research reports. Argus upgraded shares of Zimmer Biomet from a hold rating to a buy rating and set a $150.00 price objective on the stock in a research note on Tuesday, May 21st. Citigroup decreased their price target on shares of Zimmer Biomet from $134.00 to $120.00 and set a neutral rating on the stock in a research note on Wednesday, July 10th. Oppenheimer lowered their target price on shares of Zimmer Biomet from $155.00 to $145.00 and set an outperform rating on the stock in a research note on Thursday. Morgan Stanley dropped their price target on Zimmer Biomet from $130.00 to $120.00 and set an equal weight rating for the company in a research report on Monday, July 15th. Finally, Piper Sandler lowered shares of Zimmer Biomet from an overweight rating to a neutral rating and dropped their price objective for the company from $140.00 to $115.00 in a report on Monday, July 1st. Two analysts have rated the stock with a sell rating, ten have given a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of Hold and an average target price of $127.67.

Zimmer Biomet Trading Down 0.6 %

Shares of ZBH stock traded down $0.62 on Thursday, reaching $108.08. 1,161,469 shares of the company’s stock were exchanged, compared to its average volume of 1,502,015. The stock has a market capitalization of $22.24 billion, a PE ratio of 23.39, a P/E/G ratio of 1.97 and a beta of 1.01. Zimmer Biomet has a 52 week low of $102.00 and a 52 week high of $133.90. The company has a current ratio of 1.66, a quick ratio of 0.80 and a debt-to-equity ratio of 0.38. The company’s fifty day simple moving average is $109.12 and its 200 day simple moving average is $118.71.

Zimmer Biomet (NYSE:ZBH) last posted its earnings results on Wednesday, August 7th. The medical equipment provider reported $2.01 earnings per share for the quarter, topping analysts’ consensus estimates of $1.99 by $0.02. The company had revenue of $1.94 billion during the quarter, compared to analyst estimates of $1.94 billion. Zimmer Biomet had a return on equity of 12.70% and a net margin of 12.93%. Zimmer Biomet’s revenue was up 3.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.82 earnings per share. As a group, analysts forecast that Zimmer Biomet will post 8.1 EPS for the current year.

Zimmer Biomet Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Wednesday, June 26th were given a dividend of $0.24 per share. The ex-dividend date of this dividend was Wednesday, June 26th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.89%. Zimmer Biomet’s dividend payout ratio (DPR) is 20.78%.

Hedge Funds Weigh In On Zimmer Biomet

Several large investors have recently made changes to their positions in the business. Chicago Partners Investment Group LLC raised its holdings in shares of Zimmer Biomet by 3.3% during the fourth quarter. Chicago Partners Investment Group LLC now owns 2,894 shares of the medical equipment provider’s stock valued at $349,000 after acquiring an additional 92 shares during the period. North Star Investment Management Corp. lifted its position in shares of Zimmer Biomet by 16.6% in the first quarter. North Star Investment Management Corp. now owns 669 shares of the medical equipment provider’s stock worth $88,000 after buying an additional 95 shares during the last quarter. First Bancorp Inc ME lifted its holdings in Zimmer Biomet by 5.3% in the 1st quarter. First Bancorp Inc ME now owns 1,970 shares of the medical equipment provider’s stock worth $260,000 after purchasing an additional 100 shares during the last quarter. Ballentine Partners LLC boosted its holdings in shares of Zimmer Biomet by 2.6% during the 1st quarter. Ballentine Partners LLC now owns 3,957 shares of the medical equipment provider’s stock worth $522,000 after buying an additional 100 shares during the period. Finally, Romano Brothers AND Company boosted its holdings in Zimmer Biomet by 1.1% during the first quarter. Romano Brothers AND Company now owns 9,514 shares of the medical equipment provider’s stock valued at $1,256,000 after acquiring an additional 100 shares during the period. 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.