Zimmer Biomet’s (ZBH) “Hold” Rating Reiterated at Needham & Company LLC

Needham & Company LLC restated their hold rating on shares of Zimmer Biomet (NYSE:ZBH) in a research note published on Wednesday morning,Benzinga reports.

Several other analysts have also weighed in on the company. Evercore ISI reduced their price objective on Zimmer Biomet from $113.00 to $110.00 and set an “in-line” rating on the stock in a research note on Tuesday, October 1st. JPMorgan Chase & Co. upgraded shares of Zimmer Biomet from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $125.00 to $128.00 in a research report on Tuesday, December 17th. Royal Bank of Canada raised their target price on shares of Zimmer Biomet from $120.00 to $125.00 and gave the company an “outperform” rating in a research report on Monday, November 4th. BTIG Research lowered their price target on shares of Zimmer Biomet from $134.00 to $126.00 and set a “buy” rating for the company in a report on Thursday, October 3rd. Finally, Wells Fargo & Company raised their price objective on Zimmer Biomet from $110.00 to $117.00 and gave the company an “equal weight” rating in a report on Thursday, October 31st. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $124.11.

Zimmer Biomet Stock Performance

Shares of Zimmer Biomet stock opened at $109.36 on Wednesday. The company has a current ratio of 1.36, a quick ratio of 0.70 and a debt-to-equity ratio of 0.38. The company has a market cap of $21.77 billion, a PE ratio of 20.79, a price-to-earnings-growth ratio of 1.90 and a beta of 1.02. The company has a 50 day moving average of $107.95 and a 200-day moving average of $108.24. Zimmer Biomet has a 1-year low of $100.67 and a 1-year high of $133.90.

Zimmer Biomet (NYSE:ZBH) last released its earnings results on Wednesday, October 30th. The medical equipment provider reported $1.74 earnings per share for the quarter, hitting the consensus estimate of $1.74. Zimmer Biomet had a return on equity of 12.95% and a net margin of 14.27%. The firm had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $1.80 billion. During the same period in the prior year, the company earned $1.65 earnings per share. The company’s quarterly revenue was up 4.1% on a year-over-year basis. As a group, equities research analysts forecast that Zimmer Biomet will post 7.99 earnings per share for the current fiscal year.

Zimmer Biomet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Monday, December 30th were paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.88%. The ex-dividend date of this dividend was Monday, December 30th. Zimmer Biomet’s dividend payout ratio is 18.25%.

Institutional Investors Weigh In On Zimmer Biomet

Hedge funds have recently added to or reduced their stakes in the business. Stonebridge Financial Group LLC acquired a new stake in shares of Zimmer Biomet during the 4th quarter worth approximately $25,000. Dunhill Financial LLC boosted its stake in Zimmer Biomet by 1,090.0% during the third quarter. Dunhill Financial LLC now owns 238 shares of the medical equipment provider’s stock worth $26,000 after acquiring an additional 218 shares in the last quarter. Ashton Thomas Securities LLC acquired a new stake in Zimmer Biomet in the third quarter worth $28,000. Bangor Savings Bank acquired a new position in shares of Zimmer Biomet during the third quarter valued at about $31,000. Finally, Brooklyn Investment Group bought a new position in shares of Zimmer Biomet during the 3rd quarter worth about $35,000. 88.89% of the stock is currently 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.