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

Zimmer Biomet (NYSE:ZBH) had its price target raised by Citigroup from $94.00 to $98.00 in a research note issued to investors on Wednesday, MarketBeat reports. The brokerage currently has a neutral rating on the medical equipment provider’s stock.

Several other equities research analysts also recently issued reports on the company. The Goldman Sachs Group downgraded Zimmer Biomet from a “neutral” rating to a “sell” rating and set a $93.00 price target for the company. in a report on Friday, January 9th. Robert W. Baird restated a “neutral” rating and set a $100.00 target price (down previously from $117.00) on shares of Zimmer Biomet in a research note on Tuesday, December 16th. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $100.00 price target (down previously from $115.00) on shares of Zimmer Biomet in a research note on Thursday, November 6th. Needham & Company LLC reissued a “hold” rating on shares of Zimmer Biomet in a report on Tuesday. Finally, Sanford C. Bernstein raised their price objective on shares of Zimmer Biomet from $97.00 to $99.00 and gave the stock a “market perform” rating in a research report on Friday, January 9th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, nine have given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, Zimmer Biomet presently has a consensus rating of “Hold” and an average target price of $106.20.

Zimmer Biomet Trading Up 1.2%

Zimmer Biomet stock opened at $96.32 on Wednesday. The stock has a 50-day simple moving average of $90.10 and a 200 day simple moving average of $95.64. The stock has a market capitalization of $19.09 billion, a P/E ratio of 27.21, a PEG ratio of 1.95 and a beta of 0.62. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.39 and a current ratio of 1.98. Zimmer Biomet has a 52 week low of $84.59 and a 52 week high of $114.44.

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

Zimmer Biomet Dividend Announcement

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

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Brighton Jones LLC acquired a new stake in Zimmer Biomet during the fourth quarter worth approximately $204,000. Sivia Capital Partners LLC bought a new stake in shares of Zimmer Biomet during the 2nd quarter valued at $232,000. IFP Advisors Inc lifted its position in shares of Zimmer Biomet by 8.3% during the 2nd quarter. IFP Advisors Inc now owns 1,947 shares of the medical equipment provider’s stock valued at $178,000 after acquiring an additional 149 shares during the period. Aberdeen Group plc grew its holdings in shares of Zimmer Biomet by 9.9% during the 2nd quarter. Aberdeen Group plc now owns 172,438 shares of the medical equipment provider’s stock worth $15,728,000 after purchasing an additional 15,536 shares in the last quarter. Finally, CWM LLC increased its position in shares of Zimmer Biomet by 203.4% in the second quarter. CWM LLC now owns 24,507 shares of the medical equipment provider’s stock worth $2,235,000 after purchasing an additional 16,429 shares during the period. 88.89% of the stock is owned by 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.