Zimmer Biomet (NYSE:ZBH) Hits New 1-Year Low – Time to Sell?

Zimmer Biomet Holdings, Inc. (NYSE:ZBH) hit a new 52-week low during mid-day trading on Thursday . The company traded as low as $97.69 and last traded at $98.98, with a volume of 2496731 shares changing hands. The stock had previously closed at $98.98.

Wall Street Analyst Weigh In

ZBH has been the topic of several recent research reports. Wells Fargo & Company lifted their target price on shares of Zimmer Biomet from $110.00 to $117.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 31st. Royal Bank of Canada cut their price target on shares of Zimmer Biomet from $130.00 to $125.00 and set an “outperform” rating on the stock in a report on Friday, February 7th. JPMorgan Chase & Co. upgraded Zimmer Biomet from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $125.00 to $128.00 in a report on Tuesday, December 17th. JMP Securities reaffirmed a “market outperform” rating and set a $140.00 target price on shares of Zimmer Biomet in a report on Friday, February 7th. Finally, Truist Financial restated a “hold” rating and set a $113.00 price target (down previously from $118.00) on shares of Zimmer Biomet in a report on Monday. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, Zimmer Biomet currently has an average rating of “Hold” and an average price target of $124.15.

Zimmer Biomet Stock Performance

The company has a debt-to-equity ratio of 0.43, a current ratio of 1.91 and a quick ratio of 0.70. The firm has a fifty day simple moving average of $106.91 and a 200-day simple moving average of $107.91. The firm has a market cap of $19.70 billion, a P/E ratio of 22.24, a price-to-earnings-growth ratio of 1.83 and a beta of 1.02.

Zimmer Biomet (NYSE:ZBH) last issued its earnings results on Thursday, February 6th. The medical equipment provider reported $2.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.30 by $0.01. Zimmer Biomet had a return on equity of 12.99% and a net margin of 11.77%. During the same period in the previous year, the company posted $2.20 EPS. On average, equities research analysts expect that Zimmer Biomet Holdings, Inc. will post 8.25 earnings per share for the current year.

Zimmer Biomet Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Monday, December 30th were given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 0.97%. The ex-dividend date of this dividend was Monday, December 30th. Zimmer Biomet’s payout ratio is presently 21.57%.

Hedge Funds Weigh In On Zimmer Biomet

Several large investors have recently added to or reduced their stakes in ZBH. Stonebridge Financial Group LLC purchased a new stake in shares of Zimmer Biomet in the fourth quarter worth approximately $25,000. Dunhill Financial LLC grew its holdings in Zimmer Biomet by 1,090.0% during the third quarter. Dunhill Financial LLC now owns 238 shares of the medical equipment provider’s stock worth $26,000 after buying an additional 218 shares in the last quarter. Ashton Thomas Securities LLC purchased a new stake in Zimmer Biomet in the 3rd quarter valued at $28,000. Brooklyn Investment Group bought a new position in Zimmer Biomet during the 3rd quarter valued at $35,000. Finally, Kentucky Trust Co purchased a new position in Zimmer Biomet during the 4th quarter worth $39,000. Institutional investors own 88.89% of the company’s stock.

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.