Brokerages Set Zimmer Biomet Holdings, Inc. (NYSE:ZBH) Price Target at $134.19

Posted by Defense World Staff on Apr 24th, 2023

Shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH – Get Rating) have earned an average recommendation of “Hold” from the eighteen ratings firms that are currently covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $134.19.

Several equities research analysts have recently issued reports on the stock. Robert W. Baird increased their price objective on shares of Zimmer Biomet from $133.00 to $145.00 in a research report on Monday, February 6th. Loop Capital lifted their price target on Zimmer Biomet from $125.00 to $140.00 in a research note on Monday, February 6th. Evercore ISI upgraded Zimmer Biomet from an “in-line” rating to an “outperform” rating and boosted their price target for the company from $135.00 to $148.00 in a report on Tuesday, April 11th. Jefferies Financial Group upgraded Zimmer Biomet from an “underperform” rating to a “hold” rating and increased their price objective for the stock from $115.00 to $130.00 in a report on Friday, March 31st. Finally, StockNews.com began coverage on Zimmer Biomet in a research note on Thursday, March 16th. They issued a “buy” rating on the stock.

Zimmer Biomet Stock Performance

Shares of Zimmer Biomet stock opened at $137.92 on Friday. The stock’s fifty day simple moving average is $127.16 and its 200 day simple moving average is $122.30. The company has a current ratio of 1.88, a quick ratio of 0.97 and a debt-to-equity ratio of 0.43. The company has a market capitalization of $28.82 billion, a PE ratio of 125.38, a PEG ratio of 3.17 and a beta of 1.00. Zimmer Biomet has a 12 month low of $100.39 and a 12 month high of $140.29.

Zimmer Biomet (NYSE:ZBH – Get Rating) last released its quarterly earnings results on Friday, February 3rd. The medical equipment provider reported $1.88 EPS for the quarter, topping analysts’ consensus estimates of $1.83 by $0.05. Zimmer Biomet had a return on equity of 11.97% and a net margin of 3.33%. The company had revenue of $1.83 billion for the quarter, compared to analyst estimates of $1.76 billion. During the same quarter last year, the firm posted $1.95 earnings per share. Zimmer Biomet’s revenue was up 2.7% compared to the same quarter last year. On average, research analysts predict that Zimmer Biomet will post 7.04 EPS for the current year.

Zimmer Biomet Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 28th. Shareholders of record on Wednesday, March 29th will be given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 0.70%. The ex-dividend date is Tuesday, March 28th. Zimmer Biomet’s dividend payout ratio (DPR) is currently 87.27%.

Insider Activity

In other news, VP Chad F. Phipps sold 23,045 shares of the company’s stock in a transaction dated Friday, March 17th. The shares were sold at an average price of $124.50, for a total value of $2,869,102.50. Following the sale, the vice president now directly owns 43,671 shares of the company’s stock, valued at approximately $5,437,039.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 0.95% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in ZBH. Community Bank N.A. increased its holdings in shares of Zimmer Biomet by 2.2% in the first quarter. Community Bank N.A. now owns 3,714 shares of the medical equipment provider’s stock valued at $480,000 after purchasing an additional 80 shares during the last quarter. Bradley Foster & Sargent Inc. CT lifted its position in Zimmer Biomet by 1.3% during the fourth quarter. Bradley Foster & Sargent Inc. CT now owns 6,452 shares of the medical equipment provider’s stock worth $823,000 after acquiring an additional 85 shares during the last quarter. Crossmark Global Holdings Inc. boosted its holdings in shares of Zimmer Biomet by 0.7% during the third quarter. Crossmark Global Holdings Inc. now owns 14,006 shares of the medical equipment provider’s stock worth $1,464,000 after acquiring an additional 91 shares during the period. HB Wealth Management LLC grew its position in shares of Zimmer Biomet by 4.0% in the fourth quarter. HB Wealth Management LLC now owns 2,371 shares of the medical equipment provider’s stock valued at $302,000 after purchasing an additional 92 shares during the last quarter. Finally, 1ST Source Bank increased its stake in shares of Zimmer Biomet by 0.7% during the fourth quarter. 1ST Source Bank now owns 13,149 shares of the medical equipment provider’s stock worth $1,676,000 after purchasing an additional 95 shares during the period. 87.21% of the stock is owned by institutional investors and hedge funds.

About Zimmer Biomet

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Zimmer Biomet Holdings, Inc engages in the design, manufacture, and marketing of orthopedic reconstructive products. The firm also offers sports medicine, biologics, extremities, and trauma products, spine, craniomaxillofacial, and thoracic products, office-based technologies, dental implants, and related surgical products.