Zimmer Biomet’s (ZBH) Hold Rating Reiterated at Canaccord Genuity Group

Canaccord Genuity Group reiterated their hold rating on shares of Zimmer Biomet (NYSE:ZBH) in a research note released on Wednesday,Benzinga reports. They currently have a $101.00 price objective on the medical equipment provider’s stock.

Several other analysts have also issued reports on ZBH. Royal Bank Of Canada set a $111.00 target price on shares of Zimmer Biomet in a research note on Friday, October 10th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Zimmer Biomet in a research note on Wednesday, October 8th. BTIG Research upped their target price on shares of Zimmer Biomet from $118.00 to $122.00 and gave the stock a “buy” rating in a research note on Monday, October 13th. Rothschild Redb upgraded shares of Zimmer Biomet to a “strong-buy” rating in a research note on Thursday, September 18th. Finally, Evercore ISI reduced their target price on shares of Zimmer Biomet from $106.00 to $104.00 and set an “in-line” rating for the company in a research note on Tuesday, October 7th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $111.94.

Zimmer Biomet Stock Performance

NYSE ZBH opened at $103.14 on Wednesday. Zimmer Biomet has a 1 year low of $89.22 and a 1 year high of $114.72. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.87 and a quick ratio of 0.96. The firm has a market cap of $20.43 billion, a price-to-earnings ratio of 25.09, a PEG ratio of 2.37 and a beta of 0.67. The company has a fifty day moving average price of $101.86 and a 200-day moving average price of $97.71.

Zimmer Biomet (NYSE:ZBH) last posted its earnings results on Thursday, August 7th. The medical equipment provider reported $2.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.98 by $0.09. Zimmer Biomet had a net margin of 10.51% and a return on equity of 12.76%. The firm had revenue of $2.08 billion during the quarter, compared to analyst estimates of $2.06 billion. During the same quarter in the prior year, the business posted $2.01 EPS. The business’s revenue was up 7.0% compared to the same quarter last year. Zimmer Biomet has set its FY 2025 guidance at 8.100-8.300 EPS. As a group, equities research analysts predict that Zimmer Biomet will post 8.22 EPS for the current fiscal year.

Zimmer Biomet Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Tuesday, September 30th will be issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend is Tuesday, September 30th. Zimmer Biomet’s payout ratio is 23.36%.

Insider Buying and Selling at Zimmer Biomet

In related news, SVP Lori Winkler sold 1,500 shares of the business’s stock in a transaction dated Monday, September 8th. The shares were sold at an average price of $104.15, for a total value of $156,225.00. Following the transaction, the senior vice president directly owned 6,833 shares of the company’s stock, valued at approximately $711,656.95. The trade was a 18.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.39% of the company’s stock.

Institutional Investors Weigh In On Zimmer Biomet

Several institutional investors have recently added to or reduced their stakes in the business. Citizens Financial Group Inc. RI purchased a new stake in Zimmer Biomet during the third quarter valued at about $238,000. New York State Teachers Retirement System lifted its holdings in Zimmer Biomet by 0.9% during the third quarter. New York State Teachers Retirement System now owns 159,129 shares of the medical equipment provider’s stock valued at $15,674,000 after purchasing an additional 1,344 shares during the last quarter. Bayforest Capital Ltd purchased a new stake in Zimmer Biomet during the third quarter valued at about $187,000. Forum Financial Management LP lifted its holdings in Zimmer Biomet by 20.2% during the third quarter. Forum Financial Management LP now owns 6,519 shares of the medical equipment provider’s stock valued at $642,000 after purchasing an additional 1,096 shares during the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in Zimmer Biomet by 2.5% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 23,751 shares of the medical equipment provider’s stock valued at $2,339,000 after purchasing an additional 582 shares during the last quarter. 88.89% of the stock is owned by hedge funds and other institutional investors.

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.