Zimmer Biomet (NYSE:ZBH) Reaches New 52-Week Low Following Analyst Downgrade

Zimmer Biomet Holdings, Inc. (NYSE:ZBH)’s share price reached a new 52-week low during mid-day trading on Friday after Raymond James lowered their price target on the stock from $126.00 to $119.00. Raymond James currently has an outperform rating on the stock. Zimmer Biomet traded as low as $99.93 and last traded at $100.63, with a volume of 1883257 shares. The stock had previously closed at $102.69.

A number of other research firms also recently issued reports on ZBH. Stifel Nicolaus raised their price target on shares of Zimmer Biomet from $130.00 to $138.00 and gave the stock a “buy” rating in a research report on Thursday, January 23rd. JPMorgan Chase & Co. upgraded shares of Zimmer Biomet from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $125.00 to $128.00 in a research report on Tuesday, December 17th. Wells Fargo & Company raised their price target on shares of Zimmer Biomet from $110.00 to $117.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 31st. Barclays reduced their price target on shares of Zimmer Biomet from $125.00 to $118.00 and set an “underweight” rating on the stock in a research report on Thursday, December 12th. Finally, Truist Financial increased their price objective on shares of Zimmer Biomet from $117.00 to $118.00 and gave the stock a “hold” rating in a report on Wednesday, December 18th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $124.70.

Hedge Funds Weigh In On Zimmer Biomet

Several hedge funds have recently made changes to their positions in the business. Stonebridge Financial Group LLC acquired a new position in shares of Zimmer Biomet in the fourth quarter worth about $25,000. Dunhill Financial LLC boosted its holdings in shares of Zimmer Biomet by 1,090.0% in the third quarter. Dunhill Financial LLC now owns 238 shares of the medical equipment provider’s stock worth $26,000 after buying an additional 218 shares during the period. Ashton Thomas Securities LLC acquired a new position in shares of Zimmer Biomet in the third quarter worth about $28,000. Brooklyn Investment Group acquired a new position in shares of Zimmer Biomet in the third quarter worth about $35,000. Finally, Kentucky Trust Co acquired a new position in shares of Zimmer Biomet in the fourth quarter worth about $39,000. Institutional investors and hedge funds own 88.89% of the company’s stock.

Zimmer Biomet Stock Performance

The company has a debt-to-equity ratio of 0.38, a current ratio of 1.36 and a quick ratio of 0.70. The company has a market capitalization of $20.11 billion, a price-to-earnings ratio of 19.22, a PEG ratio of 1.88 and a beta of 1.02. The firm’s fifty day simple moving average is $107.56 and its 200 day simple moving average is $108.16.

Zimmer Biomet (NYSE:ZBH) last posted its quarterly earnings results on Thursday, February 6th. The medical equipment provider reported $2.31 EPS for the quarter, topping the consensus estimate of $2.30 by $0.01. Zimmer Biomet had a net margin of 14.27% and a return on equity of 12.95%. During the same quarter in the previous year, the company earned $2.20 earnings per share. On average, sell-side analysts forecast that Zimmer Biomet Holdings, Inc. will post 7.99 EPS for the current year.

Zimmer Biomet Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Monday, December 30th were issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 0.95%. The ex-dividend date was Monday, December 30th. Zimmer Biomet’s dividend payout ratio is currently 18.25%.

About Zimmer Biomet

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.