Needham & Company LLC Reiterates Hold Rating for Zimmer Biomet (NYSE:ZBH)

Needham & Company LLC restated their hold rating on shares of Zimmer Biomet (NYSE:ZBH) in a research note published on Wednesday morning,Benzinga reports.

Several other equities analysts have also recently weighed in on ZBH. JPMorgan Chase & Co. upgraded Zimmer Biomet from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $125.00 to $128.00 in a research note on Tuesday, December 17th. Evercore ISI reduced their price objective on shares of Zimmer Biomet from $113.00 to $110.00 and set an “in-line” rating for the company in a research report on Tuesday, October 1st. Raymond James dropped their target price on shares of Zimmer Biomet from $128.00 to $123.00 and set an “outperform” rating on the stock in a research report on Monday, October 14th. Stifel Nicolaus increased their price target on Zimmer Biomet from $130.00 to $138.00 and gave the company a “buy” rating in a research report on Thursday, January 23rd. Finally, Wells Fargo & Company lifted their price target on Zimmer Biomet from $110.00 to $117.00 and gave the stock an “equal weight” rating in a report on Thursday, October 31st. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, Zimmer Biomet presently has an average rating of “Hold” and a consensus price target of $124.11.

Zimmer Biomet Trading Down 1.1 %

NYSE:ZBH opened at $109.36 on Wednesday. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.36 and a quick ratio of 0.70. Zimmer Biomet has a one year low of $100.67 and a one year high of $133.90. The company has a market cap of $21.77 billion, a PE ratio of 20.79, a PEG ratio of 1.90 and a beta of 1.02. The firm has a 50-day moving average of $107.95 and a 200-day moving average of $108.24.

Zimmer Biomet (NYSE:ZBH) last issued its quarterly earnings data on Wednesday, October 30th. The medical equipment provider reported $1.74 EPS for the quarter, hitting analysts’ consensus estimates of $1.74. The firm had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.80 billion. Zimmer Biomet had a return on equity of 12.95% and a net margin of 14.27%. The company’s revenue for the quarter was up 4.1% on a year-over-year basis. During the same period in the previous year, the company posted $1.65 EPS. As a group, equities research analysts expect that Zimmer Biomet will post 7.99 EPS for the current fiscal year.

Zimmer Biomet Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Monday, December 30th were given a dividend of $0.24 per share. The ex-dividend date of this dividend was Monday, December 30th. This represents a $0.96 annualized dividend and a dividend yield of 0.88%. Zimmer Biomet’s dividend payout ratio is currently 18.25%.

Hedge Funds Weigh In On Zimmer Biomet

Several hedge funds have recently made changes to their positions in ZBH. Stonebridge Financial Group LLC bought a new position in Zimmer Biomet in the 4th quarter worth about $25,000. Dunhill Financial LLC boosted its position in shares of Zimmer Biomet by 1,090.0% in the third quarter. Dunhill Financial LLC now owns 238 shares of the medical equipment provider’s stock valued at $26,000 after acquiring an additional 218 shares during the period. Ashton Thomas Securities LLC purchased a new position in Zimmer Biomet during the third quarter valued at approximately $28,000. Bangor Savings Bank bought a new stake in Zimmer Biomet during the 3rd quarter worth approximately $31,000. Finally, Brooklyn Investment Group purchased a new stake in Zimmer Biomet in the 3rd quarter worth approximately $35,000. 88.89% of the stock is currently owned by hedge funds and other institutional investors.

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.