Zimmer Biomet (NYSE:ZBH) Upgraded at Argus

Argus upgraded shares of Zimmer Biomet (NYSE:ZBH) from a hold rating to a buy rating in a research report report published on Tuesday, MarketBeat Ratings reports. The brokerage currently has $150.00 price target on the medical equipment provider’s stock.

Other analysts also recently issued research reports about the company. Canaccord Genuity Group reiterated a hold rating and set a $130.00 price target on shares of Zimmer Biomet in a research note on Friday, February 23rd. Evercore ISI raised their price target on shares of Zimmer Biomet from $125.00 to $130.00 and gave the stock an in-line rating in a research report on Thursday, April 4th. Barclays increased their price objective on shares of Zimmer Biomet from $120.00 to $130.00 and gave the stock an underweight rating in a research note on Monday, February 12th. Needham & Company LLC restated a hold rating on shares of Zimmer Biomet in a research report on Friday, May 17th. Finally, Truist Financial cut their price target on Zimmer Biomet from $137.00 to $130.00 and set a hold rating on the stock in a research report on Friday, May 3rd. One analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, Zimmer Biomet presently has a consensus rating of Hold and an average price target of $134.40.

Zimmer Biomet Price Performance

Shares of ZBH stock opened at $115.85 on Tuesday. The firm has a market capitalization of $23.83 billion, a price-to-earnings ratio of 25.08, a PEG ratio of 2.15 and a beta of 1.03. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.80 and a current ratio of 1.66. The stock’s 50-day simple moving average is $123.63 and its 200-day simple moving average is $121.46. Zimmer Biomet has a fifty-two week low of $102.00 and a fifty-two week high of $147.50.

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

Zimmer Biomet Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Wednesday, June 26th will be issued a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 0.83%. The ex-dividend date of this dividend is Wednesday, June 26th. Zimmer Biomet’s payout ratio is presently 20.78%.

Institutional Investors Weigh In On Zimmer Biomet

Several institutional investors have recently bought and sold shares of the company. Schechter Investment Advisors LLC lifted its stake in Zimmer Biomet by 21.6% in the 3rd quarter. Schechter Investment Advisors LLC now owns 4,241 shares of the medical equipment provider’s stock worth $476,000 after purchasing an additional 752 shares in the last quarter. Atria Wealth Solutions Inc. increased its stake in shares of Zimmer Biomet by 5.9% in the 3rd quarter. Atria Wealth Solutions Inc. now owns 20,566 shares of the medical equipment provider’s stock worth $2,312,000 after acquiring an additional 1,144 shares during the last quarter. International Assets Investment Management LLC raised its holdings in shares of Zimmer Biomet by 11,244.9% during the 4th quarter. International Assets Investment Management LLC now owns 66,935 shares of the medical equipment provider’s stock worth $8,146,000 after acquiring an additional 66,345 shares during the period. Amalgamated Bank boosted its position in shares of Zimmer Biomet by 3.0% during the 3rd quarter. Amalgamated Bank now owns 56,166 shares of the medical equipment provider’s stock valued at $6,303,000 after acquiring an additional 1,631 shares during the last quarter. Finally, Sequoia Financial Advisors LLC grew its holdings in shares of Zimmer Biomet by 37.5% in the fourth quarter. Sequoia Financial Advisors LLC now owns 155,965 shares of the medical equipment provider’s stock valued at $18,981,000 after purchasing an additional 42,539 shares during the period. 88.89% of the stock is currently owned by institutional investors and hedge funds.

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.