Zimmer Biomet (NYSE:ZBH) Sets New 12-Month Low - Here's Why

Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Get Free Report) reached a new 52-week low on Wednesday . The company traded as low as $101.04 and last traded at $101.72, with a volume of 79557 shares. The stock had previously closed at $103.13.

Analyst Upgrades and Downgrades

ZBH has been the subject of a number of research reports. Canaccord Genuity Group dropped their price target on Zimmer Biomet from $120.00 to $115.00 and set a "hold" rating for the company in a research note on Tuesday, September 10th. Truist Financial lifted their price target on Zimmer Biomet from $117.00 to $118.00 and gave the company a "hold" rating in a research note on Wednesday, December 18th. Needham & Company LLC reiterated a "hold" rating on shares of Zimmer Biomet in a report on Thursday, October 31st. Royal Bank of Canada boosted their target price on shares of Zimmer Biomet from $120.00 to $125.00 and gave the stock an "outperform" rating in a report on Monday, November 4th. Finally, Wells Fargo & Company upped their price target 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, October 31st. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and eight have given a buy rating to the company's stock. According to data from MarketBeat, Zimmer Biomet currently has an average rating of "Hold" and an average price target of $123.33.

Zimmer Biomet Price Performance

The company has a current ratio of 1.36, a quick ratio of 0.70 and a debt-to-equity ratio of 0.38. The business has a 50-day moving average of $108.20 and a 200 day moving average of $108.10. The firm has a market capitalization of $20.19 billion, a PE ratio of 19.28, a price-to-earnings-growth ratio of 1.96 and a beta of 1.02.

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

Zimmer Biomet Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Monday, December 30th will be given a $0.24 dividend. The ex-dividend date of this dividend is Monday, December 30th. This represents a $0.96 annualized dividend and a yield of 0.95%. Zimmer Biomet's dividend payout ratio is currently 18.25%.

Institutional Investors Weigh In On Zimmer Biomet

Hedge funds have recently made changes to their positions in the business. First Hawaiian Bank increased its holdings in Zimmer Biomet by 14.0% during the fourth quarter. First Hawaiian Bank now owns 20,400 shares of the medical equipment provider's stock worth $2,155,000 after buying an additional 2,500 shares during the last quarter. Nordea Investment Management AB lifted its holdings in Zimmer Biomet by 3.9% during the fourth quarter. Nordea Investment Management AB now owns 16,333 shares of the medical equipment provider's stock valued at $1,732,000 after purchasing an additional 609 shares during the last quarter. Central Pacific Bank Trust Division boosted its position in Zimmer Biomet by 7.4% during the fourth quarter. Central Pacific Bank Trust Division now owns 14,525 shares of the medical equipment provider's stock worth $1,534,000 after purchasing an additional 1,000 shares during the period. GAMMA Investing LLC boosted its holdings in Zimmer Biomet by 67.6% in the 4th quarter. GAMMA Investing LLC now owns 2,298 shares of the medical equipment provider's stock worth $243,000 after buying an additional 927 shares during the period. Finally, B. Riley Wealth Advisors Inc. raised its stake in shares of Zimmer Biomet by 17.5% during the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 2,404 shares of the medical equipment provider's stock valued at $260,000 after purchasing an additional 358 shares during the period. 88.89% of the stock is currently owned by institutional investors.

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.