Zimmer Biomet (NYSE:ZBH) Price Target Raised to $98.00

Zimmer Biomet (NYSE:ZBH) had its target price increased by Wells Fargo & Company from $93.00 to $98.00 in a report published on Wednesday morning,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the medical equipment provider’s stock.

A number of other brokerages also recently issued reports on ZBH. Wall Street Zen upgraded Zimmer Biomet from a “hold” rating to a “buy” rating in a report on Saturday, January 17th. Stifel Nicolaus set a $110.00 price objective on Zimmer Biomet in a research report on Wednesday, November 5th. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $100.00 target price (down previously from $115.00) on shares of Zimmer Biomet in a research note on Thursday, November 6th. Evercore upgraded shares of Zimmer Biomet from an “in-line” rating to an “outperform” rating and boosted their target price for the stock from $94.00 to $120.00 in a report on Monday, January 5th. Finally, Robert W. Baird restated a “neutral” rating and issued a $100.00 price target (down from $117.00) on shares of Zimmer Biomet in a report on Tuesday, December 16th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, nine have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $106.20.

Zimmer Biomet Stock Up 1.2%

NYSE:ZBH opened at $96.32 on Wednesday. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.98 and a quick ratio of 1.39. Zimmer Biomet has a 1-year low of $84.59 and a 1-year high of $114.44. The company has a 50-day moving average of $90.10 and a 200 day moving average of $95.64. The firm has a market cap of $19.09 billion, a PE ratio of 27.21, a price-to-earnings-growth ratio of 1.95 and a beta of 0.62.

Zimmer Biomet (NYSE:ZBH) last posted its earnings results on Tuesday, February 10th. The medical equipment provider reported $2.42 EPS for the quarter, beating analysts’ consensus estimates of $2.38 by $0.04. Zimmer Biomet had a net margin of 8.56% and a return on equity of 12.93%. The business had revenue of $2.24 billion for the quarter, compared to the consensus estimate of $2.22 billion. During the same quarter last year, the firm posted $2.31 EPS. The company’s revenue for the quarter was up 10.9% on a year-over-year basis. Zimmer Biomet has set its FY 2026 guidance at 8.300-8.450 EPS. As a group, research analysts anticipate that Zimmer Biomet will post 8.22 EPS for the current fiscal year.

Zimmer Biomet Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 30th. Stockholders of record on Tuesday, December 30th were paid a dividend of $0.24 per share. The ex-dividend date was Tuesday, December 30th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.0%. Zimmer Biomet’s payout ratio is presently 27.12%.

Hedge Funds Weigh In On Zimmer Biomet

Hedge funds and other institutional investors have recently modified their holdings of the stock. Key Financial Inc raised its holdings in shares of Zimmer Biomet by 164.6% in the third quarter. Key Financial Inc now owns 262 shares of the medical equipment provider’s stock worth $26,000 after buying an additional 163 shares during the last quarter. Cullen Frost Bankers Inc. increased its position in shares of Zimmer Biomet by 66.7% in the 3rd quarter. Cullen Frost Bankers Inc. now owns 290 shares of the medical equipment provider’s stock valued at $29,000 after acquiring an additional 116 shares during the period. Cary Street Partners Investment Advisory LLC raised its stake in Zimmer Biomet by 83.7% in the 2nd quarter. Cary Street Partners Investment Advisory LLC now owns 327 shares of the medical equipment provider’s stock worth $30,000 after acquiring an additional 149 shares during the last quarter. Root Financial Partners LLC acquired a new stake in Zimmer Biomet during the 3rd quarter worth about $31,000. Finally, Gen Wealth Partners Inc purchased a new stake in Zimmer Biomet during the 4th quarter valued at about $31,000. 88.89% of the stock is owned by hedge funds and other institutional investors.

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.