Zimmer Biomet (NYSE:ZBH) Reaches New 12-Month Low – What’s Next?

Zimmer Biomet Holdings, Inc. (NYSE:ZBH) reached a new 52-week low on Wednesday . The company traded as low as $101.04 and last traded at $101.72, with a volume of 79557 shares changing hands. The stock had previously closed at $103.13.

Analyst Ratings Changes

ZBH has been the topic of several recent research reports. Wells Fargo & Company raised their price target on Zimmer Biomet from $110.00 to $117.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 31st. Oppenheimer decreased their target price on shares of Zimmer Biomet from $145.00 to $135.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 15th. Royal Bank of Canada increased their price target on shares of Zimmer Biomet from $120.00 to $125.00 and gave the company an “outperform” rating in a research report on Monday, November 4th. Barclays decreased their price objective on shares of Zimmer Biomet from $125.00 to $118.00 and set an “underweight” rating on the stock in a research report on Thursday, December 12th. Finally, Truist Financial raised their target price on Zimmer Biomet from $117.00 to $118.00 and gave the stock a “hold” rating in a research note on Wednesday, December 18th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, Zimmer Biomet presently has a consensus rating of “Hold” and an average target price of $123.33.

Zimmer Biomet Price Performance

The company has a market capitalization of $20.74 billion, a P/E ratio of 19.81, a price-to-earnings-growth ratio of 1.96 and a beta of 1.02. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.36 and a quick ratio of 0.70. The firm’s 50-day moving average is $108.09 and its 200-day moving average is $108.05.

Zimmer Biomet (NYSE:ZBH) last issued its quarterly earnings data on Wednesday, October 30th. The medical equipment provider reported $1.74 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.74. Zimmer Biomet had a net margin of 14.27% and a return on equity of 12.95%. The firm had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.80 billion. During the same quarter in the previous year, the firm posted $1.65 EPS. The company’s revenue for the quarter was up 4.1% compared to the same quarter last year. Analysts predict that Zimmer Biomet Holdings, Inc. will post 7.99 EPS for the current fiscal year.

Zimmer Biomet Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Monday, December 30th will be given a dividend of $0.24 per share. The ex-dividend date is Monday, December 30th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.92%. Zimmer Biomet’s payout ratio is currently 18.25%.

Institutional Investors Weigh In On Zimmer Biomet

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. BLB&B Advisors LLC increased its stake in Zimmer Biomet by 2.1% in the 3rd quarter. BLB&B Advisors LLC now owns 4,900 shares of the medical equipment provider’s stock worth $529,000 after buying an additional 100 shares in the last quarter. FWG Holdings LLC grew its position in shares of Zimmer Biomet by 2.9% during the third quarter. FWG Holdings LLC now owns 3,591 shares of the medical equipment provider’s stock worth $372,000 after purchasing an additional 101 shares in the last quarter. Financial Advocates Investment Management raised its stake in Zimmer Biomet by 3.5% during the 3rd quarter. Financial Advocates Investment Management now owns 3,053 shares of the medical equipment provider’s stock valued at $330,000 after purchasing an additional 103 shares during the period. M&R Capital Management Inc. raised its stake in Zimmer Biomet by 14.1% during the 3rd quarter. M&R Capital Management Inc. now owns 852 shares of the medical equipment provider’s stock valued at $92,000 after purchasing an additional 105 shares during the period. Finally, Mill Creek Capital Advisors LLC lifted its holdings in Zimmer Biomet by 5.1% in the 2nd quarter. Mill Creek Capital Advisors LLC now owns 2,195 shares of the medical equipment provider’s stock worth $238,000 after purchasing an additional 106 shares in the last quarter. Institutional investors 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.