Oppenheimer Raises Zimmer Biomet (NYSE:ZBH) Price Target to $155.00

Zimmer Biomet (NYSE:ZBH) had its target price hoisted by Oppenheimer from $150.00 to $155.00 in a report issued on Friday morning, Benzinga reports. Oppenheimer currently has an outperform rating on the medical equipment provider’s stock.

Other research analysts have also issued reports about the company. Needham & Company LLC restated a hold rating on shares of Zimmer Biomet in a research report on Thursday. TheStreet upgraded Zimmer Biomet from a c rating to a b- rating in a report on Thursday, February 8th. JPMorgan Chase & Co. lifted their target price on Zimmer Biomet from $115.00 to $125.00 and gave the company a neutral rating in a report on Friday, February 9th. Truist Financial lifted their target price on Zimmer Biomet from $133.00 to $135.00 and gave the company a hold rating in a report on Friday, February 9th. Finally, Evercore ISI raised their price target on Zimmer Biomet from $125.00 to $130.00 and gave the company an in-line rating in a research note on Thursday, April 4th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of Hold and a consensus target price of $135.40.

Zimmer Biomet Price Performance

NYSE:ZBH opened at $121.66 on Friday. Zimmer Biomet has a one year low of $102.00 and a one year high of $147.50. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.78 and a current ratio of 1.66. The stock has a market cap of $25.00 billion, a PE ratio of 26.33, a P/E/G ratio of 2.23 and a beta of 1.03. The stock has a 50 day moving average price of $125.30 and a 200 day moving average price of $120.21.

Zimmer Biomet (NYSE:ZBH) last issued its quarterly earnings data on Thursday, May 2nd. The medical equipment provider reported $1.94 earnings per share for the quarter, topping the consensus estimate of $1.87 by $0.07. The company had revenue of $1.89 billion during the quarter, compared to analyst estimates of $1.87 billion. Zimmer Biomet had a return on equity of 12.70% and a net margin of 12.93%. The firm’s revenue for the quarter was up 3.2% compared to the same quarter last year. During the same period in the prior year, the business posted $1.89 earnings per share. Equities research analysts expect that Zimmer Biomet will post 8.1 EPS for the current fiscal year.

Zimmer Biomet Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 30th. Shareholders of record on Friday, March 29th were issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 0.79%. The ex-dividend date of this dividend was Wednesday, March 27th. Zimmer Biomet’s dividend payout ratio is presently 20.78%.

Insider Buying and Selling at Zimmer Biomet

In other Zimmer Biomet news, VP Chad F. Phipps sold 26,156 shares of Zimmer Biomet stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $128.62, for a total value of $3,364,184.72. Following the sale, the vice president now owns 44,145 shares of the company’s stock, valued at approximately $5,677,929.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.95% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. PFG Advisors raised its holdings in Zimmer Biomet by 4.6% in the 4th quarter. PFG Advisors now owns 1,899 shares of the medical equipment provider’s stock valued at $231,000 after acquiring an additional 84 shares during the last quarter. Quent Capital LLC raised its holdings in Zimmer Biomet by 21.6% in the 4th quarter. Quent Capital LLC now owns 518 shares of the medical equipment provider’s stock valued at $63,000 after acquiring an additional 92 shares during the last quarter. Chicago Partners Investment Group LLC raised its holdings in Zimmer Biomet by 3.3% in the 4th quarter. Chicago Partners Investment Group LLC now owns 2,894 shares of the medical equipment provider’s stock valued at $349,000 after acquiring an additional 92 shares during the last quarter. North Star Investment Management Corp. raised its holdings in Zimmer Biomet by 16.6% in the 1st quarter. North Star Investment Management Corp. now owns 669 shares of the medical equipment provider’s stock valued at $88,000 after acquiring an additional 95 shares during the last quarter. Finally, Pinnacle Associates Ltd. raised its holdings in Zimmer Biomet by 5.0% in the 3rd quarter. Pinnacle Associates Ltd. now owns 2,020 shares of the medical equipment provider’s stock valued at $227,000 after acquiring an additional 97 shares during the last quarter. 88.89% of the stock is currently owned by institutional investors and hedge funds.

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.