Zimmer Biomet (NYSE:ZBH) Trading 3% Higher

Zimmer Biomet Holdings, Inc. (NYSE:ZBHGet Rating) shares traded up 3% on Tuesday . The stock traded as high as $130.52 and last traded at $128.99. 8,240 shares were traded during mid-day trading, a decline of 100% from the average session volume of 1,868,450 shares. The stock had previously closed at $125.23.

Several research analysts recently weighed in on the company. JPMorgan Chase & Co. cut their target price on Zimmer Biomet from $150.00 to $114.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 8th. JMP Securities cut their target price on Zimmer Biomet from $175.00 to $145.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 8th. Bank of America assumed coverage on Zimmer Biomet in a research report on Tuesday, March 1st. They issued an “underperform” rating and a $120.00 target price on the stock. Canaccord Genuity Group lowered Zimmer Biomet from a “buy” rating to a “hold” rating and cut their target price for the stock from $165.00 to $125.00 in a research report on Tuesday, February 8th. Finally, Truist Financial lowered Zimmer Biomet from a “buy” rating to a “hold” rating and increased their target price for the stock from $128.00 to $142.00 in a research report on Wednesday, April 13th. Two analysts have rated the stock with a sell rating, sixteen have issued a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $143.58.

The company has a debt-to-equity ratio of 0.43, a current ratio of 1.41 and a quick ratio of 0.72. The firm’s 50-day moving average price is $123.09 and its 200 day moving average price is $128.50. The firm has a market cap of $27.20 billion, a P/E ratio of 65.91, a PEG ratio of 3.30 and a beta of 1.20.

Zimmer Biomet (NYSE:ZBHGet Rating) last issued its earnings results on Monday, February 7th. The medical equipment provider reported $1.95 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.98 by ($0.03). Zimmer Biomet had a return on equity of 12.30% and a net margin of 5.12%. The business had revenue of $2.04 billion during the quarter, compared to the consensus estimate of $2.07 billion. During the same period in the prior year, the business earned $2.11 EPS. The business’s revenue was down 2.3% on a year-over-year basis. Analysts forecast that Zimmer Biomet Holdings, Inc. will post 6.54 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 29th. Shareholders of record on Tuesday, March 29th will be issued a $0.24 dividend. The ex-dividend date of this dividend is Monday, March 28th. This represents a $0.96 dividend on an annualized basis and a yield of 0.74%. Zimmer Biomet’s dividend payout ratio is currently 50.53%.

In other Zimmer Biomet news, VP Chad F. Phipps sold 35,149 shares of the firm’s stock in a transaction dated Thursday, March 17th. The shares were sold at an average price of $121.97, for a total value of $4,287,123.53. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.73% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Amplius Wealth Advisors LLC bought a new stake in shares of Zimmer Biomet during the fourth quarter valued at approximately $26,000. Widmann Financial Services Inc. bought a new stake in shares of Zimmer Biomet during the fourth quarter valued at approximately $28,000. FSB Premier Wealth Management Inc. bought a new stake in shares of Zimmer Biomet during the fourth quarter valued at approximately $33,000. US Asset Management LLC bought a new stake in shares of Zimmer Biomet during the first quarter valued at approximately $33,000. Finally, Paragon Capital Management Ltd bought a new stake in shares of Zimmer Biomet during the fourth quarter valued at approximately $34,000. 89.02% of the stock is currently owned by institutional investors.

About Zimmer Biomet (NYSE:ZBH)

Zimmer Biomet Holdings, Inc, together with its subsidiaries, operates in the musculoskeletal healthcare business in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company designs, manufactures, and markets orthopaedic reconstructive products, such as knee and hip products; S.E.T.

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