Zimmer Biomet Holdings, Inc. (NYSE:ZBH – Get Free Report) shares gapped up prior to trading on Monday following a dividend announcement from the company. The stock had previously closed at $115.24, but opened at $119.00. Zimmer Biomet shares last traded at $118.08, with a volume of 255,053 shares trading hands.
The newly announced dividend which will be paid on Tuesday, October 31st. Stockholders of record on Friday, September 29th will be paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 0.82%. Zimmer Biomet’s dividend payout ratio (DPR) is presently 39.83%.
Analyst Upgrades and Downgrades
Several research analysts recently commented on the stock. Barclays lifted their target price on shares of Zimmer Biomet from $116.00 to $120.00 and gave the stock an “underweight” rating in a report on Wednesday, August 2nd. 22nd Century Group reiterated a “maintains” rating on shares of Zimmer Biomet in a research report on Thursday, May 18th. Morgan Stanley reissued an “equal weight” rating and issued a $140.00 price target on shares of Zimmer Biomet in a report on Wednesday, August 2nd. TheStreet lowered shares of Zimmer Biomet from a “b-” rating to a “c+” rating in a report on Friday. Finally, Truist Financial cut their price objective on Zimmer Biomet from $153.00 to $148.00 and set a “hold” rating for the company in a research report on Wednesday, August 2nd. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $145.16.
Zimmer Biomet Stock Up 2.0 %
The company has a quick ratio of 0.95, a current ratio of 1.96 and a debt-to-equity ratio of 0.42. The firm has a 50 day simple moving average of $134.19 and a two-hundred day simple moving average of $132.00. The stock has a market capitalization of $24.56 billion, a P/E ratio of 48.77, a PEG ratio of 2.27 and a beta of 1.01.
Zimmer Biomet (NYSE:ZBH – Get Free Report) last posted its earnings results on Tuesday, August 1st. The medical equipment provider reported $1.82 EPS for the quarter, hitting the consensus estimate of $1.82. Zimmer Biomet had a net margin of 7.03% and a return on equity of 12.36%. The business had revenue of $1.87 billion for the quarter, compared to the consensus estimate of $1.83 billion. During the same period last year, the company earned $1.82 EPS. The firm’s revenue was up 5.0% compared to the same quarter last year. On average, equities research analysts expect that Zimmer Biomet Holdings, Inc. will post 7.51 earnings per share for the current year.
Insider Buying and Selling
In other news, Director Arthur J. Higgins purchased 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 23rd. The shares were acquired at an average cost of $115.61 per share, with a total value of $115,610.00. Following the purchase, the director now owns 3,400 shares in the company, valued at $393,074. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.95% of the stock is currently owned by insiders.
Hedge Funds Weigh In On Zimmer Biomet
Several hedge funds have recently modified their holdings of ZBH. Fairfield Bush & CO. bought a new position in Zimmer Biomet in the 1st quarter worth approximately $111,000. United Bank lifted its holdings in shares of Zimmer Biomet by 4.1% in the 1st quarter. United Bank now owns 11,072 shares of the medical equipment provider’s stock worth $1,416,000 after acquiring an additional 437 shares during the last quarter. Panagora Asset Management Inc. boosted its position in Zimmer Biomet by 153.9% during the first quarter. Panagora Asset Management Inc. now owns 9,803 shares of the medical equipment provider’s stock valued at $1,254,000 after buying an additional 5,942 shares during the period. Aviva PLC grew its position in Zimmer Biomet by 0.4% during the 1st quarter. Aviva PLC now owns 30,636 shares of the medical equipment provider’s stock worth $3,918,000 after acquiring an additional 137 shares during the last quarter. Finally, Allianz Asset Management GmbH increased its stake in Zimmer Biomet by 11.2% in the 1st quarter. Allianz Asset Management GmbH now owns 41,816 shares of the medical equipment provider’s stock worth $5,348,000 after purchasing an additional 4,224 shares during the period. Institutional investors own 87.48% of the company’s stock.
About Zimmer Biomet
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.
See Also
- Five stocks we like better than Zimmer Biomet
- How to Invest in Grocery Stores
- 3 Reasons High-Yield Bloomin’ Brands is About to Blossom
- What is a Secondary Public Offering? What Investors Need to Know
- 5 Computer Vision Stocks with a Clear Path to Growth
- Investing in Construction Stocks
- 3 Reasons Workday Stock Is Setting Up For A New Rally
Receive News & Ratings for Zimmer Biomet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Zimmer Biomet and related companies with MarketBeat.com's FREE daily email newsletter.
