Wells Fargo & Company Lowers Zimmer Biomet (NYSE:ZBH) Price Target to $98.00

Zimmer Biomet (NYSE:ZBH) had its price target reduced by Wells Fargo & Company from $113.00 to $98.00 in a research note issued to investors on Tuesday, Marketbeat.com reports. They currently have an equal weight rating on the medical equipment provider’s stock.

Several other brokerages have also recently weighed in on ZBH. Barclays lowered their price target on shares of Zimmer Biomet from $118.00 to $112.00 and set an “underweight” rating on the stock in a research report on Monday, February 10th. Needham & Company LLC reiterated a “hold” rating on shares of Zimmer Biomet in a report on Friday, February 7th. Truist Financial restated a “hold” rating and set a $113.00 price target (down previously from $118.00) on shares of Zimmer Biomet in a report on Monday, February 10th. Royal Bank of Canada lowered their price objective on Zimmer Biomet from $130.00 to $125.00 and set an “outperform” rating for the company in a research report on Friday, February 7th. Finally, Robert W. Baird reduced their target price on Zimmer Biomet from $130.00 to $115.00 and set an “outperform” rating on the stock in a research report on Tuesday. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $114.15.

Zimmer Biomet Stock Performance

ZBH opened at $95.07 on Tuesday. The company has a current ratio of 1.91, a quick ratio of 0.99 and a debt-to-equity ratio of 0.43. The firm’s 50-day moving average price is $104.61 and its 200 day moving average price is $106.17. Zimmer Biomet has a twelve month low of $89.92 and a twelve month high of $122.25. The firm has a market capitalization of $18.81 billion, a PE ratio of 21.36, a PEG ratio of 1.95 and a beta of 0.78.

Zimmer Biomet (NYSE:ZBH) last posted its quarterly earnings results on Monday, May 5th. The medical equipment provider reported $1.81 EPS for the quarter, beating the consensus estimate of $1.77 by $0.04. The firm had revenue of $1.91 billion during the quarter, compared to analysts’ expectations of $1.89 billion. Zimmer Biomet had a return on equity of 12.99% and a net margin of 11.77%. The business’s revenue for the quarter was up 1.1% on a year-over-year basis. During the same quarter last year, the firm earned $1.94 earnings per share. As a group, sell-side analysts expect that Zimmer Biomet will post 8.22 EPS for the current fiscal year.

Zimmer Biomet Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 30th. Investors of record on Monday, March 31st were paid a dividend of $0.24 per share. The ex-dividend date was Monday, March 31st. This represents a $0.96 annualized dividend and a yield of 1.01%. Zimmer Biomet’s payout ratio is 21.24%.

Insider Activity

In related news, SVP Lori Winkler sold 1,443 shares of the stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $104.40, for a total value of $150,649.20. Following the transaction, the senior vice president now owns 8,768 shares of the company’s stock, valued at $915,379.20. This represents a 14.13 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 1.39% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in ZBH. Stonebridge Financial Group LLC purchased a new stake in Zimmer Biomet during the fourth quarter worth approximately $25,000. Garde Capital Inc. purchased a new stake in shares of Zimmer Biomet during the 1st quarter worth approximately $29,000. Menard Financial Group LLC acquired a new position in shares of Zimmer Biomet in the 4th quarter valued at $30,000. Washington Trust Advisors Inc. purchased a new position in shares of Zimmer Biomet in the 1st quarter valued at $30,000. Finally, Columbia River Financial Group LLC acquired a new stake in Zimmer Biomet during the 1st quarter worth $30,000. 88.89% of the stock is owned by institutional investors and hedge funds.

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.