Barclays Cuts Zimmer Biomet (NYSE:ZBH) Price Target to $112.00

Zimmer Biomet (NYSE:ZBH) had its price target decreased by Barclays from $118.00 to $112.00 in a report issued on Monday,Benzinga reports. Barclays currently has an underweight rating on the medical equipment provider’s stock.

A number of other equities research analysts have also recently commented on the stock. Truist Financial raised their price objective on shares of Zimmer Biomet from $117.00 to $118.00 and gave the stock a “hold” rating in a research note on Wednesday, December 18th. Royal Bank of Canada cut their price objective on shares of Zimmer Biomet from $130.00 to $125.00 and set an “outperform” rating for the company in a report on Friday, February 7th. Stifel Nicolaus increased their target price on shares of Zimmer Biomet from $130.00 to $138.00 and gave the stock a “buy” rating in a research note on Thursday, January 23rd. Raymond James cut their price target on Zimmer Biomet from $126.00 to $119.00 and set an “outperform” rating for the company in a research note on Friday, February 7th. Finally, JPMorgan Chase & Co. upgraded Zimmer Biomet from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $125.00 to $128.00 in a research report on Tuesday, December 17th. Two investment 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’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $124.15.

Zimmer Biomet Price Performance

NYSE:ZBH opened at $98.98 on Monday. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.91 and a quick ratio of 0.70. The company’s fifty day moving average price is $106.91 and its 200-day moving average price is $107.91. Zimmer Biomet has a 1-year low of $97.69 and a 1-year high of $133.90. The firm has a market capitalization of $19.70 billion, a P/E ratio of 22.24, a PEG ratio of 1.83 and a beta of 1.02.

Zimmer Biomet (NYSE:ZBH) last announced its quarterly earnings results on Thursday, February 6th. The medical equipment provider reported $2.31 earnings per share for the quarter, topping the consensus estimate 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 company posted $2.20 EPS. As a group, equities research analysts anticipate that Zimmer Biomet will post 8.25 EPS for the current year.

Zimmer Biomet Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Monday, December 30th were given a $0.24 dividend. The ex-dividend date of this dividend was Monday, December 30th. This represents a $0.96 dividend on an annualized basis and a yield of 0.97%. Zimmer Biomet’s dividend payout ratio is currently 21.57%.

Hedge Funds Weigh In On Zimmer Biomet

A number of hedge funds have recently modified their holdings of ZBH. Stonebridge Financial Group LLC purchased a new stake in Zimmer Biomet in the 4th quarter valued at about $25,000. Dunhill Financial LLC increased its position in shares of Zimmer Biomet by 1,090.0% during the third quarter. Dunhill Financial LLC now owns 238 shares of the medical equipment provider’s stock valued at $26,000 after acquiring an additional 218 shares during the last quarter. Ashton Thomas Securities LLC purchased a new stake in shares of Zimmer Biomet in the 3rd quarter valued at approximately $28,000. Brooklyn Investment Group acquired a new position in shares of Zimmer Biomet in the 3rd quarter worth approximately $35,000. Finally, Kentucky Trust Co purchased a new position in shares of Zimmer Biomet during the 4th quarter worth approximately $39,000. 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.