Zimmer Biomet (NYSE:ZBH) Downgraded by Wall Street Zen to Hold

Wall Street Zen downgraded shares of Zimmer Biomet (NYSE:ZBH) from a buy rating to a hold rating in a research report sent to investors on Saturday morning.

A number of other analysts have also recently commented on the company. Sanford C. Bernstein boosted their price target on Zimmer Biomet from $91.00 to $93.00 and gave the stock a “market perform” rating in a research report on Thursday. Wells Fargo & Company reduced their price objective on Zimmer Biomet from $98.00 to $90.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 29th. Truist Financial lifted their price objective on Zimmer Biomet from $92.00 to $106.00 and gave the company a “hold” rating in a research note on Thursday. Needham & Company LLC reissued a “hold” rating on shares of Zimmer Biomet in a report on Wednesday. Finally, Stifel Nicolaus increased their target price on Zimmer Biomet from $105.00 to $110.00 and gave the stock a “buy” rating in a research note on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, thirteen have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $103.53.

Zimmer Biomet Trading Down 0.7%

Shares of NYSE ZBH opened at $96.54 on Friday. Zimmer Biomet has a 1 year low of $79.12 and a 1 year high of $108.29. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.69 and a quick ratio of 0.95. The firm has a 50-day moving average of $90.17 and a 200 day moving average of $90.13. The stock has a market cap of $18.68 billion, a P/E ratio of 23.49, a price-to-earnings-growth ratio of 2.83 and a beta of 0.45.

Zimmer Biomet (NYSE:ZBH) last announced its quarterly earnings data on Wednesday, August 5th. The medical equipment provider reported $2.07 earnings per share for the quarter, topping analysts’ consensus estimates of $2.01 by $0.06. Zimmer Biomet had a net margin of 9.48% and a return on equity of 13.12%. The business had revenue of $2.18 billion for the quarter, compared to analysts’ expectations of $2.13 billion. During the same quarter in the prior year, the company earned $2.07 earnings per share. The business’s revenue was up 4.8% compared to the same quarter last year. Zimmer Biomet has set its FY 2026 guidance at 8.470-8.590 EPS. As a group, sell-side analysts expect that Zimmer Biomet will post 8.53 EPS for the current fiscal year.

Zimmer Biomet Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, July 31st. Shareholders of record on Thursday, June 25th were paid a dividend of $0.24 per share. The ex-dividend date was Thursday, June 25th. This represents a $0.96 annualized dividend and a yield of 1.0%. Zimmer Biomet’s dividend payout ratio is currently 23.36%.

Insider Activity

In other news, insider Sang Yi sold 5,000 shares of the firm’s stock in a transaction dated Friday, May 29th. The shares were sold at an average price of $82.64, for a total transaction of $413,200.00. Following the sale, the insider owned 27,251 shares of the company’s stock, valued at $2,252,022.64. This trade represents a 15.50% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 1.28% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. PNC Financial Services Group Inc. boosted its stake in shares of Zimmer Biomet by 9.4% in the 4th quarter. PNC Financial Services Group Inc. now owns 161,195 shares of the medical equipment provider’s stock worth $14,495,000 after buying an additional 13,883 shares during the last quarter. Morningstar Investment Management LLC increased its position in Zimmer Biomet by 235.4% during the fourth quarter. Morningstar Investment Management LLC now owns 57,865 shares of the medical equipment provider’s stock valued at $5,204,000 after acquiring an additional 40,610 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its position in Zimmer Biomet by 257.2% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 34,370 shares of the medical equipment provider’s stock valued at $3,091,000 after acquiring an additional 24,748 shares during the last quarter. Robertson Stephens Wealth Management LLC bought a new position in Zimmer Biomet in the fourth quarter valued at about $1,131,000. Finally, CIBC Asset Management Inc boosted its position in Zimmer Biomet by 67.6% in the fourth quarter. CIBC Asset Management Inc now owns 46,516 shares of the medical equipment provider’s stock worth $4,183,000 after purchasing an additional 18,769 shares during the last quarter. Institutional investors own 88.89% of the company’s stock.

About Zimmer Biomet

Zimmer Biomet (NYSE: ZBH) is a global medical device company focused on musculoskeletal healthcare. Headquartered in Warsaw, Indiana, the company designs, manufactures and markets a broad portfolio of products used to treat joint disorders, bone disorders and related conditions. Its customer base includes orthopaedic and dental surgeons, hospitals, ambulatory surgery centers and other healthcare providers that rely on implants, instruments and related services for reconstructive and restorative procedures.

The company’s product offerings span joint replacement systems for hips, knees and shoulders; trauma and extremities implants; spine and thoracic solutions; dental and craniomaxillofacial implants and prosthetics; and sports medicine devices.