Royal Bank of Canada Trims Zimmer Biomet (NYSE:ZBH) Target Price to $120.00

Zimmer Biomet (NYSE:ZBH) had its price target decreased by Royal Bank of Canada from $130.00 to $120.00 in a research report sent to investors on Tuesday, Benzinga reports. Royal Bank of Canada currently has an outperform rating on the medical equipment provider’s stock.

Several other brokerages have also recently weighed in on ZBH. Raymond James dropped their price target on shares of Zimmer Biomet from $138.00 to $128.00 and set an outperform rating on the stock in a research note on Thursday, August 8th. BTIG Research dropped their price target on shares of Zimmer Biomet from $134.00 to $126.00 and set a buy rating on the stock in a research note on Thursday, October 3rd. Wolfe Research initiated coverage on shares of Zimmer Biomet in a research note on Tuesday, September 10th. They set a peer perform rating on the stock. TD Cowen lowered their target price on shares of Zimmer Biomet from $143.00 to $119.00 and set a hold rating on the stock in a research note on Friday, September 6th. Finally, Robert W. Baird lowered their target price on shares of Zimmer Biomet from $155.00 to $145.00 and set an outperform rating on the stock in a research note on Thursday, August 8th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of Hold and an average price target of $124.53.

Zimmer Biomet Trading Up 0.7 %

Shares of ZBH stock opened at $103.50 on Tuesday. Zimmer Biomet has a 12-month low of $101.47 and a 12-month high of $133.90. The company has a current ratio of 1.29, a quick ratio of 0.63 and a debt-to-equity ratio of 0.31. The firm’s 50 day moving average is $108.51 and its 200 day moving average is $113.48. The stock has a market capitalization of $21.08 billion, a P/E ratio of 21.56, a P/E/G ratio of 1.90 and a beta of 1.02.

Zimmer Biomet (NYSE:ZBH) last issued its quarterly earnings results on Wednesday, August 7th. The medical equipment provider reported $2.01 earnings per share for the quarter, topping the consensus estimate of $1.99 by $0.02. The business had revenue of $1.94 billion for the quarter, compared to analysts’ expectations of $1.94 billion. Zimmer Biomet had a net margin of 13.25% and a return on equity of 12.86%. The company’s revenue was up 3.9% compared to the same quarter last year. During the same quarter last year, the company posted $1.82 EPS. Research analysts expect that Zimmer Biomet will post 8 earnings per share for the current year.

Zimmer Biomet Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 30th will be issued a $0.24 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $0.96 dividend on an annualized basis and a yield of 0.93%. Zimmer Biomet’s dividend payout ratio is currently 20.00%.

Institutional Trading of Zimmer Biomet

A number of large investors have recently made changes to their positions in the business. Price T Rowe Associates Inc. MD increased its holdings in shares of Zimmer Biomet by 12.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 10,642,801 shares of the medical equipment provider’s stock worth $1,404,638,000 after buying an additional 1,215,935 shares during the last quarter. American Century Companies Inc. increased its holdings in shares of Zimmer Biomet by 12.6% in the 2nd quarter. American Century Companies Inc. now owns 6,463,845 shares of the medical equipment provider’s stock worth $701,521,000 after buying an additional 722,041 shares during the last quarter. Victory Capital Management Inc. increased its holdings in shares of Zimmer Biomet by 6.7% in the 2nd quarter. Victory Capital Management Inc. now owns 3,364,624 shares of the medical equipment provider’s stock worth $365,163,000 after buying an additional 211,637 shares during the last quarter. Van ECK Associates Corp increased its holdings in shares of Zimmer Biomet by 5.3% in the 2nd quarter. Van ECK Associates Corp now owns 3,325,598 shares of the medical equipment provider’s stock worth $360,927,000 after buying an additional 167,038 shares during the last quarter. Finally, Boston Partners increased its holdings in shares of Zimmer Biomet by 26.3% in the 1st quarter. Boston Partners now owns 3,314,939 shares of the medical equipment provider’s stock worth $437,413,000 after buying an additional 691,191 shares during the last quarter. 88.89% of the stock is currently owned by institutional investors.

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.