Zimmer Biomet (NYSE:ZBH) Price Target Raised to $115.00

Zimmer Biomet (NYSE:ZBH) had its price objective raised by Barclays from $100.00 to $115.00 in a research note issued to investors on Monday morning,Benzinga reports. They currently have an equal weight rating on the medical equipment provider’s stock.

Several other equities analysts have also weighed in on the stock. Citigroup lifted their target price on shares of Zimmer Biomet from $99.00 to $117.00 and gave the company a “neutral” rating in a report on Thursday, November 5th. Wall Street Zen upgraded Zimmer Biomet from a “hold” rating to a “buy” rating in a report on Saturday, October 31st. Robert W. Baird set a $104.00 price objective on Zimmer Biomet in a research report on Thursday, August 6th. Stifel Nicolaus set a $125.00 price objective on Zimmer Biomet in a research report on Wednesday, November 4th. Finally, Weiss Ratings upgraded Zimmer Biomet from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, September 14th. Seven analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Zimmer Biomet currently has a consensus rating of “Hold” and a consensus price target of $112.74.

Zimmer Biomet Stock Up 0.0%

ZBH opened at $107.34 on Monday. Zimmer Biomet has a 1 year low of $79.12 and a 1 year high of $112.54. The firm has a 50 day moving average price of $95.58 and a 200 day moving average price of $92.39. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.79 and a current ratio of 1.46. The company has a market cap of $20.31 billion, a PE ratio of 12.66, a price-to-earnings-growth ratio of 2.52 and a beta of 0.50.

Zimmer Biomet (NYSE:ZBH) last announced its quarterly earnings results on Wednesday, November 4th. The medical equipment provider reported $1.90 earnings per share for the quarter, beating analysts’ consensus estimates of $1.88 by $0.02. Zimmer Biomet had a net margin of 8.95% and a return on equity of 13.02%. The firm had revenue of $2.06 billion for the quarter, compared to analysts’ expectations of $2.04 billion. During the same period in the previous year, the company posted $1.90 earnings per share. Zimmer Biomet’s revenue was up 3.1% compared to the same quarter last year. Sell-side analysts expect that Zimmer Biomet will post 8.56 earnings per share for the current year.

Zimmer Biomet Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 30th. Stockholders of record on Wednesday, September 30th were paid a dividend of $0.24 per share. The ex-dividend date was Wednesday, September 30th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.9%. Zimmer Biomet’s dividend payout ratio (DPR) is currently 24.30%.

Insider Buying and Selling

In other news, insider Kevin R. Thornal sold 5,691 shares of the business’s stock in a transaction on Friday, September 11th. The shares were sold at an average price of $92.95, for a total transaction of $528,978.45. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Chad Phipps sold 3,000 shares of the company’s stock in a transaction on Friday, September 4th. The shares were sold at an average price of $98.35, for a total transaction of $295,050.00. Following the completion of the transaction, the insider owned 65,231 shares of the company’s stock, valued at $6,415,468.85. This trade represents a 4.40% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 1.28% of the company’s stock.

Institutional Investors Weigh In On Zimmer Biomet

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new position in Zimmer Biomet in the 2nd quarter valued at about $1,344,282,000. State Street Corp increased its position in shares of Zimmer Biomet by 0.6% during the second quarter. State Street Corp now owns 8,877,171 shares of the medical equipment provider’s stock worth $766,343,000 after acquiring an additional 52,044 shares during the last quarter. Primecap Management Co. CA purchased a new stake in shares of Zimmer Biomet during the second quarter worth about $328,578,000. Dimensional Fund Advisors LP lifted its stake in shares of Zimmer Biomet by 1.1% in the first quarter. Dimensional Fund Advisors LP now owns 2,224,163 shares of the medical equipment provider’s stock worth $201,082,000 after acquiring an additional 24,208 shares in the last quarter. Finally, Bank of America Corp DE acquired a new position in shares of Zimmer Biomet in the second quarter worth about $187,480,000. Hedge funds and other institutional investors own 88.89% of the company’s stock.

About Zimmer Biomet

Zimmer Biomet Holdings, Inc. develops and manufactures medical devices and technologies used in musculoskeletal care. Its products support orthopedic procedures involving the hip, knee, shoulder, and extremities, as well as trauma care, sports medicine, and related surgical applications. The company also offers surgical technologies, including robotic and digital solutions designed to assist clinicians with planning and performing procedures. Its products and services are used by hospitals, surgeons, and other healthcare providers.