Canaccord Genuity Group Has Lowered Expectations for Zimmer Biomet (NYSE:ZBH) Stock Price

Zimmer Biomet (NYSE:ZBH) had its target price trimmed by Canaccord Genuity Group from $115.00 to $101.00 in a research note released on Monday,Benzinga reports. The brokerage currently has a hold rating on the medical equipment provider’s stock.

Several other equities analysts have also recently commented on the stock. Truist Financial set a $101.00 price target on shares of Zimmer Biomet in a research report on Tuesday, May 6th. JMP Securities cut their price target on Zimmer Biomet from $140.00 to $125.00 and set a “market outperform” rating on the stock in a report on Wednesday, May 7th. Stifel Nicolaus set a $115.00 price objective on shares of Zimmer Biomet and gave the company a “buy” rating in a research note on Tuesday, May 6th. Morgan Stanley lowered their price objective on shares of Zimmer Biomet from $115.00 to $95.00 and set an “equal weight” rating on the stock in a research note on Tuesday, May 6th. Finally, Robert W. Baird decreased their price target on shares of Zimmer Biomet from $130.00 to $115.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 6th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, Zimmer Biomet currently has a consensus rating of “Hold” and an average price target of $113.45.

Zimmer Biomet Stock Up 3.1%

Shares of Zimmer Biomet stock opened at $98.18 on Monday. The business has a 50-day moving average of $104.30 and a 200-day moving average of $106.10. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.91 and a quick ratio of 0.99. The company has a market capitalization of $19.42 billion, a PE ratio of 22.06, a P/E/G ratio of 1.95 and a beta of 0.78. Zimmer Biomet has a 1-year low of $89.92 and a 1-year high of $122.25.

Zimmer Biomet (NYSE:ZBH) last announced its earnings results on Monday, May 5th. The medical equipment provider reported $1.81 earnings per share for the quarter, beating the consensus estimate of $1.77 by $0.04. The company had revenue of $1.91 billion during the quarter, compared to the consensus estimate of $1.89 billion. Zimmer Biomet had a return on equity of 12.99% and a net margin of 11.77%. The company’s revenue was up 1.1% on a year-over-year basis. During the same period last year, the firm earned $1.94 earnings per share. As a group, equities analysts forecast that Zimmer Biomet will post 8.22 EPS for the current fiscal year.

Zimmer Biomet Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st were issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 0.98%. The ex-dividend date of this dividend was Monday, March 31st. Zimmer Biomet’s dividend payout ratio is currently 21.24%.

Insider Transactions at Zimmer Biomet

In related news, SVP Lori Winkler sold 1,443 shares of the stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $104.40, for a total value of $150,649.20. Following the completion of the transaction, the senior vice president now owns 8,768 shares of the company’s stock, valued at $915,379.20. This represents a 14.13% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.39% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Zimmer Biomet

Several large investors have recently modified their holdings of ZBH. Franklin Resources Inc. increased its position in shares of Zimmer Biomet by 398.7% during the fourth quarter. Franklin Resources Inc. now owns 3,497,764 shares of the medical equipment provider’s stock worth $369,469,000 after buying an additional 2,796,372 shares during the period. Norges Bank bought a new position in Zimmer Biomet during the fourth quarter worth $216,223,000. Dodge & Cox boosted its stake in Zimmer Biomet by 12.0% during the fourth quarter. Dodge & Cox now owns 19,118,436 shares of the medical equipment provider’s stock worth $2,019,480,000 after acquiring an additional 2,044,645 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in Zimmer Biomet by 251.3% during the first quarter. JPMorgan Chase & Co. now owns 2,081,381 shares of the medical equipment provider’s stock worth $235,571,000 after acquiring an additional 1,488,918 shares in the last quarter. Finally, Nuveen LLC bought a new position in Zimmer Biomet during the first quarter worth $155,891,000. 88.89% of the stock is currently owned by institutional investors and hedge funds.

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.