Oppenheimer Trims Zimmer Biomet (NYSE:ZBH) Target Price to $135.00

Zimmer Biomet (NYSE:ZBH) had its target price lowered by Oppenheimer from $145.00 to $135.00 in a research note published on Tuesday, Benzinga reports. The brokerage currently has an outperform rating on the medical equipment provider’s stock.

ZBH has been the topic of a number of other research reports. UBS Group decreased their target price on shares of Zimmer Biomet from $112.00 to $107.00 and set a “sell” rating on the stock in a research report on Thursday, August 8th. BTIG Research dropped their target price on Zimmer Biomet from $134.00 to $126.00 and set a “buy” rating for the company in a research note on Thursday, October 3rd. Robert W. Baird dropped their price objective on shares of Zimmer Biomet from $155.00 to $145.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Wolfe Research initiated coverage on shares of Zimmer Biomet in a report on Tuesday, September 10th. They issued a “peer perform” rating for the company. Finally, Piper Sandler downgraded shares of Zimmer Biomet from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $140.00 to $115.00 in a research note on Monday, July 1st. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $123.74.

Zimmer Biomet Stock Up 1.3 %

ZBH stock opened at $106.31 on Tuesday. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.29 and a quick ratio of 0.63. The company’s 50 day simple moving average is $108.11 and its 200-day simple moving average is $112.42. Zimmer Biomet has a 12 month low of $101.47 and a 12 month high of $133.90. The firm has a market capitalization of $21.87 billion, a PE ratio of 23.01, a P/E/G ratio of 1.93 and a beta of 1.02.

Zimmer Biomet (NYSE:ZBH) last released 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 company had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.94 billion. Zimmer Biomet had a return on equity of 12.86% and a net margin of 13.25%. Zimmer Biomet’s revenue was up 3.9% compared to the same quarter last year. During the same quarter last year, the business posted $1.82 earnings per share. Equities analysts expect that Zimmer Biomet will post 7.98 earnings per share for the current fiscal year.

Zimmer Biomet Announces Dividend

The company also recently disclosed 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 is Monday, September 30th. This represents a $0.96 dividend on an annualized basis and a yield of 0.90%. Zimmer Biomet’s dividend payout ratio is currently 20.78%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. M&G Plc acquired a new position in Zimmer Biomet during the 1st quarter worth $7,397,000. AMF Tjanstepension AB bought a new stake in Zimmer Biomet in the first quarter valued at about $30,300,000. Factory Mutual Insurance Co. acquired a new stake in Zimmer Biomet during the first quarter valued at approximately $10,862,000. Gradient Investments LLC lifted its holdings in Zimmer Biomet by 17.3% during the 2nd quarter. Gradient Investments LLC now owns 130,350 shares of the medical equipment provider’s stock worth $14,147,000 after buying an additional 19,224 shares during the last quarter. Finally, CANADA LIFE ASSURANCE Co grew its position in shares of Zimmer Biomet by 7.3% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 229,233 shares of the medical equipment provider’s stock worth $30,265,000 after acquiring an additional 15,548 shares in the last quarter. Hedge funds and other institutional investors own 88.89% of the company’s stock.

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.