Brokerages Set Zimmer Biomet Holdings, Inc. (NYSE:ZBH) Target Price at $124.11

Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Get Free Report) has been given an average rating of "Hold" by the twenty-one ratings firms that are covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, eleven have given a hold recommendation and eight have assigned a buy recommendation to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $124.11.

Several research firms have recently issued reports on ZBH. Truist Financial boosted their price objective on shares of Zimmer Biomet from $117.00 to $118.00 and gave the stock a "hold" rating in a report on Wednesday, December 18th. Raymond James lowered their target price on Zimmer Biomet from $128.00 to $123.00 and set an "outperform" rating for the company in a research note on Monday, October 14th. BTIG Research reduced their price objective on Zimmer Biomet from $134.00 to $126.00 and set a "buy" rating on the stock in a report on Thursday, October 3rd. Needham & Company LLC reissued a "hold" rating on shares of Zimmer Biomet in a research note on Wednesday. Finally, JPMorgan Chase & Co. upgraded Zimmer Biomet from a "neutral" rating to an "overweight" rating and raised their price target for the company from $125.00 to $128.00 in a report on Tuesday, December 17th.

Hedge Funds Weigh In On Zimmer Biomet

A number of large investors have recently bought and sold shares of ZBH. Legacy Capital Wealth Partners LLC bought a new position in Zimmer Biomet during the fourth quarter worth about $456,000. Valeo Financial Advisors LLC increased its holdings in shares of Zimmer Biomet by 7.6% during the 4th quarter. Valeo Financial Advisors LLC now owns 14,659 shares of the medical equipment provider's stock worth $1,548,000 after acquiring an additional 1,035 shares during the last quarter. Roman Butler Fullerton & Co. bought a new stake in Zimmer Biomet in the 4th quarter valued at $473,000. Asset Management One Co. Ltd. lifted its holdings in Zimmer Biomet by 0.7% during the 4th quarter. Asset Management One Co. Ltd. now owns 81,913 shares of the medical equipment provider's stock valued at $8,754,000 after purchasing an additional 602 shares during the last quarter. Finally, MFG Wealth Management Inc. bought a new position in Zimmer Biomet during the fourth quarter worth $1,506,000. Institutional investors and hedge funds own 88.89% of the company's stock.

Zimmer Biomet Stock Down 0.4 %

Zimmer Biomet stock traded down $0.42 during mid-day trading on Thursday, hitting $110.63. 1,259,166 shares of the company's stock were exchanged, compared to its average volume of 1,762,373. Zimmer Biomet has a 1-year low of $100.67 and a 1-year high of $133.90. The stock has a 50 day moving average of $107.91 and a two-hundred day moving average of $108.22. The stock has a market cap of $22.02 billion, a P/E ratio of 21.03, a P/E/G ratio of 1.88 and a beta of 1.02. The company has a current ratio of 1.36, a quick ratio of 0.70 and a debt-to-equity ratio of 0.38.

Zimmer Biomet (NYSE:ZBH - Get Free Report) last posted its earnings results on Wednesday, October 30th. The medical equipment provider reported $1.74 earnings per share for the quarter, hitting the consensus estimate of $1.74. The firm had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.80 billion. Zimmer Biomet had a return on equity of 12.95% and a net margin of 14.27%. The company's revenue for the quarter was up 4.1% on a year-over-year basis. During the same period in the previous year, the company earned $1.65 EPS. As a group, analysts anticipate that Zimmer Biomet will post 7.99 EPS for the current fiscal year.

Zimmer Biomet Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Monday, December 30th will be issued a dividend of $0.24 per share. The ex-dividend date is Monday, December 30th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.87%. Zimmer Biomet's payout ratio is presently 18.25%.

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.