Truist Financial Issues Positive Forecast for Zimmer Biomet (NYSE:ZBH) Stock Price

Zimmer Biomet (NYSE:ZBH - Free Report) had its price target boosted by Truist Financial from $112.00 to $117.00 in a report issued on Friday morning, Benzinga reports. Truist Financial currently has a hold rating on the medical equipment provider's stock.

ZBH has been the subject of a number of other reports. Wolfe Research assumed coverage on Zimmer Biomet in a report on Tuesday, September 10th. They set a "peer perform" rating for the company. Robert W. Baird reduced their price target on shares of Zimmer Biomet from $155.00 to $145.00 and set an "outperform" rating for the company in a report on Thursday, August 8th. Wells Fargo & Company upped their price objective on shares of Zimmer Biomet from $110.00 to $117.00 and gave the company an "equal weight" rating in a research report on Thursday. UBS Group decreased their target price on Zimmer Biomet from $112.00 to $107.00 and set a "sell" rating on the stock in a research report on Thursday, August 8th. Finally, Evercore ISI cut their price target on Zimmer Biomet from $113.00 to $110.00 and set an "in-line" rating for the company in a report on Tuesday, October 1st. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $123.84.

Zimmer Biomet Stock Performance

Shares of NYSE ZBH traded up $0.35 during trading hours on Friday, hitting $107.27. 1,905,698 shares of the stock were exchanged, compared to its average volume of 1,491,439. The firm has a market capitalization of $21.85 billion, a P/E ratio of 20.56, a P/E/G ratio of 2.02 and a beta of 1.02. Zimmer Biomet has a one year low of $101.47 and a one year high of $133.90. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.36 and a quick ratio of 0.63. The company's 50 day moving average is $107.11 and its 200 day moving average is $111.00.

Zimmer Biomet (NYSE:ZBH - Get Free Report) last released its quarterly earnings results on Wednesday, October 30th. The medical equipment provider reported $1.74 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.75 by ($0.01). Zimmer Biomet had a net margin of 14.27% and a return on equity of 12.95%. The firm had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.80 billion. During the same quarter last year, the company earned $1.65 earnings per share. The firm's revenue was up 4.1% on a year-over-year basis. On average, research analysts expect that Zimmer Biomet will post 7.97 EPS for the current year.

Zimmer Biomet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, September 30th were given a $0.24 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $0.96 annualized dividend and a yield of 0.89%. Zimmer Biomet's payout ratio is 18.25%.

Institutional Trading of Zimmer Biomet

Hedge funds and other institutional investors have recently made changes to their positions in the business. Price T Rowe Associates Inc. MD increased its position in Zimmer Biomet by 12.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 10,642,801 shares of the medical equipment provider's stock valued at $1,404,638,000 after acquiring an additional 1,215,935 shares in the last quarter. American Century Companies Inc. increased its holdings in shares of Zimmer Biomet by 12.6% in the second quarter. American Century Companies Inc. now owns 6,463,845 shares of the medical equipment provider's stock valued at $701,521,000 after purchasing an additional 722,041 shares in the last quarter. Van ECK Associates Corp raised its position in Zimmer Biomet by 12.4% in the 3rd quarter. Van ECK Associates Corp now owns 3,736,761 shares of the medical equipment provider's stock worth $391,239,000 after purchasing an additional 411,163 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in Zimmer Biomet by 6.7% during the 2nd quarter. Victory Capital Management Inc. now owns 3,364,624 shares of the medical equipment provider's stock worth $365,163,000 after buying an additional 211,637 shares in the last quarter. Finally, Boston Partners boosted its position in Zimmer Biomet by 26.3% in the 1st quarter. Boston Partners now owns 3,314,939 shares of the medical equipment provider's stock valued at $437,413,000 after buying an additional 691,191 shares during the last quarter. 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.