JPMorgan Chase & Co. Boosts Zimmer Biomet (NYSE:ZBH) Price Target to $125.00

Zimmer Biomet (NYSE:ZBHFree Report) had its price objective lifted by JPMorgan Chase & Co. from $115.00 to $125.00 in a report issued on Friday morning, Benzinga reports. The firm currently has a neutral rating on the medical equipment provider’s stock.

Other research analysts also recently issued reports about the company. Morgan Stanley raised their price objective on Zimmer Biomet from $120.00 to $125.00 and gave the stock an equal weight rating in a report on Monday, December 4th. Roth Mkm assumed coverage on Zimmer Biomet in a report on Friday, October 20th. They issued a neutral rating and a $120.00 price target for the company. JMP Securities reduced their target price on Zimmer Biomet from $160.00 to $140.00 and set a market outperform rating for the company in a report on Monday, November 13th. Raymond James increased their price target on Zimmer Biomet from $133.00 to $137.00 and gave the company an outperform rating in a report on Wednesday, January 3rd. Finally, Truist Financial increased their price objective on Zimmer Biomet from $115.00 to $133.00 and gave the stock a hold rating in a research report on Friday, December 22nd. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Zimmer Biomet currently has a consensus rating of Hold and an average price target of $138.63.

Read Our Latest Analysis on Zimmer Biomet

Zimmer Biomet Stock Performance

NYSE:ZBH opened at $125.85 on Friday. The company has a current ratio of 1.61, a quick ratio of 0.78 and a debt-to-equity ratio of 0.39. Zimmer Biomet has a 12-month low of $102.00 and a 12-month high of $149.25. The stock has a 50-day moving average price of $121.57 and a 200 day moving average price of $117.25. The stock has a market capitalization of $26.30 billion, a P/E ratio of 25.74, a P/E/G ratio of 2.23 and a beta of 1.03.

Zimmer Biomet (NYSE:ZBHGet Free Report) last posted its quarterly earnings data on Thursday, February 8th. The medical equipment provider reported $2.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.15 by $0.05. The business had revenue of $1.94 billion during the quarter, compared to analyst estimates of $1.93 billion. Zimmer Biomet had a return on equity of 12.79% and a net margin of 13.85%. The company’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same period last year, the company earned $1.88 EPS. Equities research analysts forecast that Zimmer Biomet will post 8.03 EPS for the current fiscal year.

Zimmer Biomet Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 31st. Investors of record on Wednesday, December 27th were issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 0.76%. The ex-dividend date of this dividend was Tuesday, December 26th. Zimmer Biomet’s payout ratio is 19.63%.

Hedge Funds Weigh In On Zimmer Biomet

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ZBH. Clear Street Markets LLC acquired a new position in Zimmer Biomet in the 4th quarter worth approximately $27,000. Horizon Bancorp Inc. IN boosted its stake in Zimmer Biomet by 1,483.3% in the 2nd quarter. Horizon Bancorp Inc. IN now owns 190 shares of the medical equipment provider’s stock worth $28,000 after purchasing an additional 178 shares during the period. Lazard Asset Management LLC boosted its stake in Zimmer Biomet by 70.5% in the 3rd quarter. Lazard Asset Management LLC now owns 283 shares of the medical equipment provider’s stock worth $31,000 after purchasing an additional 117 shares during the period. OLD Point Trust & Financial Services N A acquired a new position in Zimmer Biomet in the 2nd quarter worth approximately $32,000. Finally, Naples Money Management LLC acquired a new position in Zimmer Biomet in the 4th quarter worth approximately $35,000. Institutional investors and hedge funds own 87.48% of the company’s stock.

Zimmer Biomet Company Profile

(Get Free Report)

Zimmer Biomet Holdings, Inc, together with its subsidiaries, operates as a medical technology company in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company designs, manufactures, and markets orthopaedic 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.

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