Royal Bank of Canada Issues Pessimistic Forecast for Zimmer Biomet (NYSE:ZBH) Stock Price

Zimmer Biomet (NYSE:ZBH) had its price target cut by Royal Bank of Canada from $130.00 to $125.00 in a research note published on Friday,Benzinga reports. They currently have an outperform rating on the medical equipment provider’s stock.

ZBH has been the topic of a number of other research reports. Truist Financial raised their price target on Zimmer Biomet from $117.00 to $118.00 and gave the company a “hold” rating in a research report on Wednesday, December 18th. Stifel Nicolaus raised their price objective on Zimmer Biomet from $130.00 to $138.00 and gave the company a “buy” rating in a report on Thursday, January 23rd. Wells Fargo & Company upped their target price on Zimmer Biomet from $110.00 to $117.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 31st. Barclays decreased 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 note on Thursday, December 12th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Zimmer Biomet in a research report on Friday. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $124.70.

Zimmer Biomet Price Performance

ZBH stock opened at $101.01 on Friday. The firm has a 50 day moving average of $107.56 and a 200-day moving average of $108.16. The company has a current ratio of 1.91, a quick ratio of 0.70 and a debt-to-equity ratio of 0.43. The firm has a market capitalization of $20.11 billion, a P/E ratio of 22.70, a price-to-earnings-growth ratio of 1.83 and a beta of 1.02. Zimmer Biomet has a 12 month low of $99.93 and a 12 month high of $133.90.

Zimmer Biomet (NYSE:ZBH) last issued its quarterly earnings results on Thursday, February 6th. The medical equipment provider reported $2.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.30 by $0.01. Zimmer Biomet had a return on equity of 12.99% and a net margin of 11.77%. During the same quarter in the prior year, the firm posted $2.20 earnings per share. As a group, sell-side analysts predict that Zimmer Biomet will post 8.25 earnings per share for the current fiscal year.

Zimmer Biomet Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Monday, December 30th were given 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 of this dividend was Monday, December 30th. Zimmer Biomet’s dividend payout ratio is currently 21.57%.

Institutional Trading of Zimmer Biomet

Several institutional investors and hedge funds have recently bought and sold shares of ZBH. Park Avenue Securities LLC raised its holdings in Zimmer Biomet by 158.6% in the third quarter. Park Avenue Securities LLC now owns 5,249 shares of the medical equipment provider’s stock worth $567,000 after purchasing an additional 3,219 shares in the last quarter. Czech National Bank lifted its holdings in shares of Zimmer Biomet by 5.8% during the third quarter. Czech National Bank now owns 41,486 shares of the medical equipment provider’s stock valued at $4,478,000 after purchasing an additional 2,282 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of Zimmer Biomet by 39.0% in the 3rd quarter. GAMMA Investing LLC now owns 1,371 shares of the medical equipment provider’s stock worth $148,000 after purchasing an additional 385 shares in the last quarter. Brookstone Capital Management grew its stake in shares of Zimmer Biomet by 5.3% in the 3rd quarter. Brookstone Capital Management now owns 6,388 shares of the medical equipment provider’s stock worth $690,000 after buying an additional 322 shares during the last quarter. Finally, CWM LLC raised its stake in Zimmer Biomet by 7.4% during the third quarter. CWM LLC now owns 6,966 shares of the medical equipment provider’s stock valued at $752,000 after buying an additional 481 shares during the last quarter. 88.89% of the stock is currently owned by hedge funds and other 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.