A number of other research firms also recently weighed in on ZBH. Royal Bank of Canada reaffirmed an outperform rating and set a $140.00 price target on shares of Zimmer Biomet in a research note on Friday. TheStreet raised Zimmer Biomet from a c rating to a b- rating in a research note on Thursday. Truist Financial raised their target price on Zimmer Biomet from $133.00 to $135.00 and gave the stock a hold rating in a research note on Friday. Evercore ISI lowered shares of Zimmer Biomet from an outperform rating to an inline rating and lowered their target price for the company from $135.00 to $125.00 in a report on Thursday, January 4th. Finally, JMP Securities lowered their target price on shares of Zimmer Biomet from $160.00 to $140.00 and set a market outperform rating for the company in a report on Monday, November 13th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of Hold and an average price target of $138.63.
Zimmer Biomet Trading Up 2.5 %
Zimmer Biomet (NYSE:ZBH – Get Free Report) last released 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 firm had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.93 billion. During the same quarter in the previous year, the company posted $1.88 EPS. The business’s revenue was up 6.3% on a year-over-year basis. As a group, sell-side analysts predict that Zimmer Biomet will post 8.03 EPS for the current fiscal year.
Zimmer Biomet Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 31st. Investors of record on Wednesday, December 27th were issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 0.76%. The ex-dividend date of this dividend was Tuesday, December 26th. Zimmer Biomet’s payout ratio is 19.63%.
Hedge Funds Weigh In On Zimmer Biomet
Several institutional investors have recently bought and sold shares of ZBH. Clear Street Markets LLC purchased a new position in Zimmer Biomet during the fourth quarter valued at approximately $27,000. Horizon Bancorp Inc. IN lifted its stake in shares of Zimmer Biomet by 1,483.3% during 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 period. Lazard Asset Management LLC lifted its position in Zimmer Biomet by 70.5% during the third quarter. Lazard Asset Management LLC now owns 283 shares of the medical equipment provider’s stock valued at $31,000 after purchasing an additional 117 shares during the period. OLD Point Trust & Financial Services N A purchased a new position in Zimmer Biomet in the second quarter valued at $32,000. Finally, Naples Money Management LLC purchased a new stake in shares of Zimmer Biomet during the fourth quarter worth about $35,000. 87.48% of the stock is owned by hedge funds and other institutional investors.
Zimmer Biomet Company Profile
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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