Zimmer Biomet (NYSE:ZBH) Hits New 12-Month Low - What's Next?

Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Get Free Report)'s stock price reached a new 52-week low during trading on Monday . The stock traded as low as $93.10 and last traded at $96.38, with a volume of 2256366 shares traded. The stock had previously closed at $97.92.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on ZBH shares. Raymond James cut their price target on Zimmer Biomet from $126.00 to $119.00 and set an "outperform" rating for the company in a research note on Friday, February 7th. Stifel Nicolaus upped their target price on Zimmer Biomet from $130.00 to $138.00 and gave the company a "buy" rating in a report on Thursday, January 23rd. BTIG Research reiterated a "buy" rating on shares of Zimmer Biomet in a report on Monday, April 14th. Barclays reduced their price objective on Zimmer Biomet from $118.00 to $112.00 and set an "underweight" rating for the company in a research note on Monday, February 10th. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Zimmer Biomet in a research note on Friday, February 7th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $124.15.

Zimmer Biomet Price Performance

The company has a quick ratio of 0.99, a current ratio of 1.91 and a debt-to-equity ratio of 0.43. The business's 50-day simple moving average is $105.80 and its 200 day simple moving average is $106.57. The firm has a market capitalization of $20.08 billion, a P/E ratio of 22.81, a PEG ratio of 1.95 and a beta of 0.84.

Zimmer Biomet (NYSE:ZBH - Get Free Report) last announced its quarterly earnings results on Thursday, February 6th. The medical equipment provider reported $2.31 EPS for the quarter, topping analysts' consensus estimates of $2.30 by $0.01. Zimmer Biomet had a return on equity of 12.99% and a net margin of 11.77%. During the same period last year, the business earned $2.20 earnings per share. Sell-side analysts forecast that Zimmer Biomet Holdings, Inc. will post 8.22 earnings per share for the current year.

Zimmer Biomet Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be issued a dividend of $0.24 per share. The ex-dividend date is Monday, March 31st. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.95%. Zimmer Biomet's dividend payout ratio (DPR) is 21.57%.

Insider Activity at Zimmer Biomet

In related news, SVP Lori Winkler sold 1,443 shares of the business's stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $104.40, for a total transaction of $150,649.20. Following the sale, the senior vice president now owns 8,768 shares of the company's stock, valued at $915,379.20. The trade was a 14.13 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.70% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ZBH. Dodge & Cox lifted its stake in shares of Zimmer Biomet by 12.0% in the fourth quarter. Dodge & Cox now owns 19,118,436 shares of the medical equipment provider's stock worth $2,019,480,000 after buying an additional 2,044,645 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Zimmer Biomet by 1.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 14,760,444 shares of the medical equipment provider's stock worth $1,559,147,000 after purchasing an additional 176,337 shares in the last quarter. Van ECK Associates Corp raised its stake in shares of Zimmer Biomet by 5.9% in the fourth quarter. Van ECK Associates Corp now owns 3,955,449 shares of the medical equipment provider's stock worth $417,814,000 after purchasing an additional 218,688 shares during the last quarter. Franklin Resources Inc. boosted its position in shares of Zimmer Biomet by 398.7% during the fourth quarter. Franklin Resources Inc. now owns 3,497,764 shares of the medical equipment provider's stock valued at $369,469,000 after buying an additional 2,796,372 shares during the last quarter. Finally, Northern Trust Corp increased its holdings in Zimmer Biomet by 7.6% in the 4th quarter. Northern Trust Corp now owns 2,370,224 shares of the medical equipment provider's stock worth $250,367,000 after buying an additional 167,435 shares in the last quarter. Institutional investors own 88.89% of the company's stock.

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.