Zimmer Biomet (NYSE:ZBH) Hits New 52-Week Low – Here’s Why

Shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) reached a new 52-week low on Monday . The stock traded as low as $90.51 and last traded at $93.08, with a volume of 1059379 shares traded. The stock had previously closed at $102.38.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on ZBH. Needham & Company LLC reiterated a “hold” rating on shares of Zimmer Biomet in a report on Friday, February 7th. Royal Bank of Canada decreased their price target on shares of Zimmer Biomet from $130.00 to $125.00 and set an “outperform” rating for the company in a research note on Friday, February 7th. BTIG Research reiterated a “buy” rating on shares of Zimmer Biomet in a report on Monday, April 14th. JMP Securities restated a “market outperform” rating and set a $140.00 target price on shares of Zimmer Biomet in a report on Friday, February 7th. Finally, Stifel Nicolaus lifted their price target on shares of Zimmer Biomet from $130.00 to $138.00 and gave the company a “buy” rating in a research note on Thursday, January 23rd. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $124.15.

Zimmer Biomet Price Performance

The business has a fifty day moving average of $105.53 and a two-hundred day moving average of $106.53. 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 firm has a market capitalization of $18.18 billion, a price-to-earnings ratio of 20.57, a price-to-earnings-growth ratio of 1.95 and a beta of 0.78.

Zimmer Biomet (NYSE:ZBH) last released its quarterly earnings data on Monday, May 5th. The medical equipment provider reported $1.81 EPS for the quarter, beating the consensus estimate of $1.77 by $0.04. The firm had revenue of $1.91 billion for the quarter, compared to the consensus estimate of $1.89 billion. Zimmer Biomet had a net margin of 11.77% and a return on equity of 12.99%. The company’s quarterly revenue was up 1.1% on a year-over-year basis. During the same period in the previous year, the company earned $1.94 earnings per share. As a group, research analysts predict that Zimmer Biomet Holdings, Inc. will post 8.22 EPS for the current fiscal year.

Zimmer Biomet Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st were given a dividend of $0.24 per share. The ex-dividend date of this dividend was Monday, March 31st. This represents a $0.96 annualized dividend and a yield of 1.04%. Zimmer Biomet’s dividend payout ratio (DPR) is presently 21.57%.

Insider Transactions at Zimmer Biomet

In other 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 value of $150,649.20. Following the completion of the sale, the senior vice president now owns 8,768 shares of the company’s stock, valued at approximately $915,379.20. The trade was a 14.13 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.95% of the company’s stock.

Institutional Trading of Zimmer Biomet

Several hedge funds and other institutional investors have recently bought and sold shares of ZBH. Franklin Resources Inc. raised its holdings in Zimmer Biomet by 398.7% in the 4th quarter. Franklin Resources Inc. now owns 3,497,764 shares of the medical equipment provider’s stock valued at $369,469,000 after acquiring an additional 2,796,372 shares in the last quarter. Norges Bank acquired a new position in Zimmer Biomet during the fourth quarter valued at approximately $216,223,000. Dodge & Cox increased its stake in shares of Zimmer Biomet by 12.0% in the 4th quarter. Dodge & Cox now owns 19,118,436 shares of the medical equipment provider’s stock valued at $2,019,480,000 after purchasing an additional 2,044,645 shares during the last quarter. Nuveen Asset Management LLC raised its holdings in shares of Zimmer Biomet by 191.8% during the 4th quarter. Nuveen Asset Management LLC now owns 1,389,405 shares of the medical equipment provider’s stock worth $146,763,000 after buying an additional 913,310 shares in the last quarter. Finally, Sound Shore Management Inc. CT bought a new stake in shares of Zimmer Biomet during the 4th quarter worth $81,447,000. 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.