Zimmer Biomet (NYSE:ZBH) Sets New 1-Year Low - Here's Why

Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Get Free Report)'s share price reached a new 52-week low during trading on Tuesday . The stock traded as low as $97.51 and last traded at $97.68, with a volume of 1152129 shares traded. The stock had previously closed at $101.97.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Royal Bank of Canada dropped their price objective on Zimmer Biomet from $130.00 to $125.00 and set an "outperform" rating for the company in a research note on Friday, February 7th. Raymond James decreased their price objective on shares of Zimmer Biomet from $126.00 to $119.00 and set an "outperform" rating on the stock in a research note on Friday, February 7th. BTIG Research reiterated a "buy" rating on shares of Zimmer Biomet in a research note on Monday, April 14th. JMP Securities restated a "market outperform" rating and set a $140.00 price target on shares of Zimmer Biomet in a research report on Friday, February 7th. Finally, Truist Financial reiterated a "hold" rating and issued a $113.00 price objective (down previously from $118.00) on shares of Zimmer Biomet in a research report on Monday, February 10th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat, Zimmer Biomet currently has a consensus rating of "Hold" and an average target price of $124.15.

Zimmer Biomet Price Performance

The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.99 and a current ratio of 1.91. The company has a 50-day moving average price of $105.92 and a 200-day moving average price of $106.72. The firm has a market capitalization of $19.37 billion, a P/E ratio of 22.00, a price-to-earnings-growth ratio of 1.95 and a beta of 0.84.

Zimmer Biomet (NYSE:ZBH - Get Free Report) last released its earnings results on Thursday, February 6th. The medical equipment provider reported $2.31 earnings per share for the quarter, beating the consensus estimate 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 EPS. On average, sell-side analysts predict that Zimmer Biomet Holdings, Inc. will post 8.22 earnings per share for the current year.

Zimmer Biomet Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be given a dividend of $0.24 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.98%. Zimmer Biomet's dividend payout ratio is 21.57%.

Insider Activity at Zimmer Biomet

In other Zimmer Biomet news, SVP Lori Winkler sold 1,443 shares of the firm's stock in a transaction that occurred on 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 directly owns 8,768 shares in the company, valued at approximately $915,379.20. This trade represents a 14.13 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 0.95% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in ZBH. Stonebridge Financial Group LLC acquired a new position in Zimmer Biomet in the 4th quarter worth $25,000. Menard Financial Group LLC acquired a new position in Zimmer Biomet during the 4th quarter worth approximately $30,000. Accredited Wealth Management LLC acquired a new stake in shares of Zimmer Biomet in the fourth quarter valued at approximately $36,000. Kentucky Trust Co acquired a new position in Zimmer Biomet during the fourth quarter worth $39,000. Finally, OFI Invest Asset Management acquired a new stake in Zimmer Biomet in the 4th quarter valued at $40,000. Institutional investors and hedge funds own 88.89% of the company's stock.

Zimmer Biomet Company Profile

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.