Zimmer Biomet (NYSE:ZBH) Sets New 52-Week Low – Here’s What Happened

Zimmer Biomet Holdings, Inc. (NYSE:ZBH) hit a new 52-week low during trading on Wednesday . The stock traded as low as $84.91 and last traded at $85.6350, with a volume of 380833 shares. The stock had previously closed at $85.99.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Stifel Nicolaus set a $110.00 price objective on shares of Zimmer Biomet in a research note on Wednesday, November 5th. Barclays lowered their price objective on Zimmer Biomet from $112.00 to $105.00 and set an “underweight” rating on the stock in a research report on Wednesday, November 5th. Robert W. Baird reiterated a “neutral” rating and set a $100.00 target price (down from $117.00) on shares of Zimmer Biomet in a research report on Tuesday, December 16th. UBS Group reduced their target price on Zimmer Biomet from $88.00 to $86.00 and set a “sell” rating on the stock in a research note on Wednesday. Finally, The Goldman Sachs Group lowered Zimmer Biomet from a “neutral” rating to a “sell” rating and set a $93.00 price objective on the stock. in a research report on Friday, January 9th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, ten have given a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, Zimmer Biomet presently has an average rating of “Hold” and a consensus price target of $107.24.

Zimmer Biomet Stock Down 0.3%

The company has a quick ratio of 1.39, a current ratio of 2.43 and a debt-to-equity ratio of 0.59. The firm has a market capitalization of $16.99 billion, a PE ratio of 21.21, a price-to-earnings-growth ratio of 2.22 and a beta of 0.62. The company’s fifty day simple moving average is $91.25 and its 200 day simple moving average is $96.15.

Zimmer Biomet (NYSE:ZBH) last issued its quarterly earnings results on Wednesday, November 5th. The medical equipment provider reported $1.90 earnings per share for the quarter, beating the consensus estimate of $1.88 by $0.02. Zimmer Biomet had a return on equity of 12.85% and a net margin of 10.05%.The firm had revenue of $2 billion during the quarter, compared to the consensus estimate of $2.01 billion. During the same period last year, the company earned $1.74 earnings per share. The company’s revenue was up 9.6% on a year-over-year basis. Zimmer Biomet has set its FY 2025 guidance at 8.100-8.300 EPS. Analysts anticipate that Zimmer Biomet Holdings, Inc. will post 8.22 earnings per share for the current fiscal year.

Zimmer Biomet Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 30th. Stockholders of record on Tuesday, December 30th will be issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend is Tuesday, December 30th. Zimmer Biomet’s payout ratio is presently 23.76%.

Hedge Funds Weigh In On Zimmer Biomet

Institutional investors and hedge funds have recently modified their holdings of the company. Key Financial Inc lifted its holdings in Zimmer Biomet by 164.6% in the third quarter. Key Financial Inc now owns 262 shares of the medical equipment provider’s stock valued at $26,000 after acquiring an additional 163 shares during the period. Cullen Frost Bankers Inc. boosted its stake in shares of Zimmer Biomet by 66.7% during the 3rd quarter. Cullen Frost Bankers Inc. now owns 290 shares of the medical equipment provider’s stock worth $29,000 after acquiring an additional 116 shares during the last quarter. Cary Street Partners Investment Advisory LLC increased its stake in shares of Zimmer Biomet by 83.7% in the 2nd quarter. Cary Street Partners Investment Advisory LLC now owns 327 shares of the medical equipment provider’s stock worth $30,000 after purchasing an additional 149 shares in the last quarter. Root Financial Partners LLC purchased a new position in Zimmer Biomet during the third quarter valued at $31,000. Finally, Flagship Harbor Advisors LLC purchased a new position in shares of Zimmer Biomet during the 4th quarter valued at about $32,000. 88.89% of the stock is currently owned by hedge funds and other institutional investors.

Zimmer Biomet Company Profile

Zimmer Biomet (NYSE: ZBH) is a global medical device company focused on musculoskeletal healthcare. Headquartered in Warsaw, Indiana, the company designs, manufactures and markets a broad portfolio of products used to treat joint disorders, bone disorders and related conditions. Its customer base includes orthopaedic and dental surgeons, hospitals, ambulatory surgery centers and other healthcare providers that rely on implants, instruments and related services for reconstructive and restorative procedures.

The company’s product offerings span joint replacement systems for hips, knees and shoulders; trauma and extremities implants; spine and thoracic solutions; dental and craniomaxillofacial implants and prosthetics; and sports medicine devices.