Truist Financial Cuts Zimmer Biomet (NYSE:ZBH) Price Target to $130.00

Zimmer Biomet (NYSE:ZBH) had its price objective cut by Truist Financial from $137.00 to $130.00 in a report published on Friday, Benzinga reports. They currently have a hold rating on the medical equipment provider’s stock.

Several other research analysts have also recently weighed in on the stock. Royal Bank of Canada reiterated an outperform rating and issued a $140.00 price target on shares of Zimmer Biomet in a report on Friday, February 9th. Canaccord Genuity Group restated a hold rating and set a $130.00 target price on shares of Zimmer Biomet in a report on Friday, February 23rd. StockNews.com cut shares of Zimmer Biomet from a strong-buy rating to a buy rating in a report on Monday, February 19th. TheStreet raised shares of Zimmer Biomet from a c rating to a b- rating in a research report on Thursday, February 8th. Finally, Needham & Company LLC reaffirmed a hold rating on shares of Zimmer Biomet in a research report on Thursday. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of Hold and an average price target of $135.40.

Zimmer Biomet Trading Up 2.7 %

ZBH opened at $121.66 on Friday. Zimmer Biomet has a fifty-two week low of $102.00 and a fifty-two week high of $147.50. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.66 and a quick ratio of 0.78. The company has a market cap of $25.00 billion, a price-to-earnings ratio of 26.33, a price-to-earnings-growth ratio of 2.23 and a beta of 1.03. The firm has a 50 day simple moving average of $125.30 and a 200 day simple moving average of $120.21.

Zimmer Biomet (NYSE:ZBH) last issued its earnings results on Thursday, May 2nd. The medical equipment provider reported $1.94 EPS for the quarter, beating the consensus estimate of $1.87 by $0.07. The firm had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.87 billion. Zimmer Biomet had a net margin of 12.93% and a return on equity of 12.70%. The business’s quarterly revenue was up 3.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.89 earnings per share. On average, sell-side analysts anticipate that Zimmer Biomet will post 8.1 earnings per share for the current year.

Zimmer Biomet Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 30th. Investors of record on Friday, March 29th were given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 0.79%. The ex-dividend date was Wednesday, March 27th. Zimmer Biomet’s dividend payout ratio is 20.78%.

Insider Buying and Selling

In related news, VP Chad F. Phipps sold 26,156 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $128.62, for a total transaction of $3,364,184.72. Following the transaction, the vice president now directly owns 44,145 shares of the company’s stock, valued at $5,677,929.90. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.95% of the stock is owned by insiders.

Hedge Funds Weigh In On Zimmer Biomet

A number of hedge funds have recently bought and sold shares of the business. OLD Point Trust & Financial Services N A acquired a new stake in shares of Zimmer Biomet in the 4th quarter valued at approximately $26,000. Ables Iannone Moore & Associates Inc. acquired a new stake in shares of Zimmer Biomet in the 4th quarter valued at approximately $30,000. Naples Money Management LLC acquired a new stake in shares of Zimmer Biomet in the 4th quarter valued at approximately $35,000. Activest Wealth Management boosted its stake in shares of Zimmer Biomet by 410.4% in the 4th quarter. Activest Wealth Management now owns 342 shares of the medical equipment provider’s stock valued at $42,000 after purchasing an additional 275 shares in the last quarter. Finally, Peoples Bank KS acquired a new stake in shares of Zimmer Biomet in the 3rd quarter valued at approximately $48,000. 88.89% of the stock is 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.