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

Needham & Company LLC reiterated their hold rating on shares of Zimmer Biomet (NYSE:ZBH) in a report released on Thursday, Benzinga reports.

A number of other brokerages have also recently commented on ZBH. Evercore ISI upped their target price on shares of Zimmer Biomet from $125.00 to $130.00 and gave the company an in-line rating in a report on Thursday, April 4th. Raymond James upped their target price on shares of Zimmer Biomet from $133.00 to $137.00 and gave the company an outperform rating in a report on Wednesday, January 3rd. TheStreet upgraded shares of Zimmer Biomet from a c rating to a b- rating in a research report on Thursday, February 8th. Barclays raised their price objective on shares of Zimmer Biomet from $120.00 to $130.00 and gave the company an underweight rating in a research report on Monday, February 12th. Finally, Truist Financial raised their price objective on shares of Zimmer Biomet from $133.00 to $135.00 and gave the company a hold rating in a research report on Friday, February 9th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of Hold and an average target price of $135.40.

Zimmer Biomet Stock Performance

NYSE ZBH opened at $121.66 on Thursday. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.66 and a quick ratio of 0.78. Zimmer Biomet has a 1 year low of $102.00 and a 1 year high of $147.50. The company has a market capitalization of $25.00 billion, a PE ratio of 26.33, a P/E/G ratio of 2.17 and a beta of 1.03. The company has a fifty day moving average of $125.30 and a two-hundred day moving average of $120.02.

Zimmer Biomet (NYSE:ZBH) last announced its earnings results on Thursday, May 2nd. The medical equipment provider reported $1.94 EPS for the quarter, beating analysts’ consensus estimates of $1.87 by $0.07. Zimmer Biomet had a net margin of 12.93% and a return on equity of 12.70%. The business had revenue of $1.89 billion during the quarter, compared to analysts’ expectations of $1.87 billion. During the same period in the prior year, the company earned $1.89 earnings per share. The business’s revenue was up 3.2% compared to the same quarter last year. As a group, analysts expect that Zimmer Biomet will post 8.08 earnings per share for the current year.

Zimmer Biomet Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 30th. Stockholders of record on Friday, March 29th were given a dividend of $0.24 per share. The ex-dividend date was Wednesday, March 27th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.79%. Zimmer Biomet’s payout ratio is 20.78%.

Insider Buying and Selling

In related news, VP Chad F. Phipps sold 26,156 shares of Zimmer Biomet stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $128.62, for a total transaction of $3,364,184.72. Following the completion of the transaction, the vice president now directly owns 44,145 shares in the company, valued at approximately $5,677,929.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.95% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of ZBH. Norges Bank acquired a new position in shares of Zimmer Biomet during the 4th quarter worth approximately $266,896,000. American Century Companies Inc. raised its position in shares of Zimmer Biomet by 21.2% during the 3rd quarter. American Century Companies Inc. now owns 4,863,741 shares of the medical equipment provider’s stock worth $545,809,000 after purchasing an additional 852,186 shares during the last quarter. Boston Partners grew its stake in Zimmer Biomet by 29.2% in the 3rd quarter. Boston Partners now owns 2,694,832 shares of the medical equipment provider’s stock worth $302,366,000 after acquiring an additional 608,959 shares during the period. Barclays PLC raised its holdings in Zimmer Biomet by 129.2% in the 3rd quarter. Barclays PLC now owns 1,072,494 shares of the medical equipment provider’s stock valued at $120,356,000 after acquiring an additional 604,652 shares during the last quarter. Finally, Van ECK Associates Corp lifted its stake in shares of Zimmer Biomet by 23.7% during the 4th quarter. Van ECK Associates Corp now owns 2,838,558 shares of the medical equipment provider’s stock worth $345,452,000 after purchasing an additional 543,344 shares during the period. 88.89% of the stock is currently owned by institutional investors and hedge funds.

About Zimmer Biomet

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.