Truist Financial Lowers Zimmer Biomet (NYSE:ZBH) Price Target to $130.00

Zimmer Biomet (NYSE:ZBH) had its target price reduced by Truist Financial from $137.00 to $130.00 in a report issued on Friday morning, Benzinga reports. Truist Financial currently has a hold rating on the medical equipment provider’s stock.

Several other analysts have also recently weighed in on ZBH. Citigroup lifted their price target on Zimmer Biomet from $134.00 to $140.00 and gave the stock a neutral rating in a report on Wednesday, April 3rd. Evercore ISI boosted their price target on Zimmer Biomet from $125.00 to $130.00 and gave the company an in-line rating in a research note on Thursday, April 4th. Canaccord Genuity Group reaffirmed a hold rating and issued a $130.00 price objective on shares of Zimmer Biomet in a report on Friday, February 23rd. Oppenheimer raised their price target on Zimmer Biomet from $150.00 to $155.00 and gave the stock an outperform rating in a research report on Friday. Finally, Needham & Company LLC reiterated a hold rating on shares of Zimmer Biomet in a research note on Thursday, May 2nd. One analyst has rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Hold and an average target price of $135.40.

Zimmer Biomet Price Performance

Shares of ZBH opened at $120.57 on Friday. The company has a quick ratio of 0.80, a current ratio of 1.66 and a debt-to-equity ratio of 0.38. Zimmer Biomet has a twelve month low of $102.00 and a twelve month high of $147.50. The stock has a market capitalization of $24.80 billion, a P/E ratio of 26.10, a P/E/G ratio of 2.23 and a beta of 1.03. The company has a 50 day moving average of $125.17 and a 200-day moving average of $120.32.

Zimmer Biomet (NYSE:ZBH) last posted its quarterly earnings results on Thursday, May 2nd. The medical equipment provider reported $1.94 earnings per share for the quarter, beating analysts’ consensus estimates of $1.87 by $0.07. The firm had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.87 billion. Zimmer Biomet had a return on equity of 12.70% and a net margin of 12.93%. The business’s revenue was up 3.2% compared to the same quarter last year. During the same period last year, the company earned $1.89 earnings per share. As a group, equities research analysts forecast that Zimmer Biomet will post 8.1 EPS for the current fiscal year.

Zimmer Biomet Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 30th. Shareholders of record on Friday, March 29th were issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 0.80%. The ex-dividend date of this dividend was Wednesday, March 27th. Zimmer Biomet’s dividend payout ratio is 20.78%.

Insider Activity at Zimmer Biomet

In related news, VP Chad F. Phipps sold 26,156 shares of the stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $128.62, for a total transaction of $3,364,184.72. Following the completion of the sale, the vice president now directly owns 44,145 shares of the company’s stock, valued at $5,677,929.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.70% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in ZBH. OLD Point Trust & Financial Services N A purchased a new stake in shares of Zimmer Biomet during the fourth quarter worth $26,000. Ables Iannone Moore & Associates Inc. bought a new position in Zimmer Biomet in the 4th quarter worth about $30,000. Naples Money Management LLC purchased a new position in Zimmer Biomet during the 4th quarter valued at about $35,000. Activest Wealth Management increased its position in shares of Zimmer Biomet by 410.4% during the fourth quarter. Activest Wealth Management now owns 342 shares of the medical equipment provider’s stock valued at $42,000 after buying an additional 275 shares during the period. Finally, Peoples Bank KS purchased a new stake in shares of Zimmer Biomet in the third quarter worth about $48,000. Institutional investors own 88.89% of the company’s stock.

About Zimmer Biomet

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.