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

Zimmer Biomet Holdings, Inc. (NYSE:ZBH) shares reached a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $97.51 and last traded at $97.68, with a volume of 1152129 shares changing hands. The stock had previously closed at $101.97.

Analyst Upgrades and Downgrades

ZBH has been the topic of a number of recent research reports. JMP Securities reaffirmed a “market outperform” rating and set a $140.00 price target on shares of Zimmer Biomet in a research report on Friday, February 7th. JPMorgan Chase & Co. raised Zimmer Biomet from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $125.00 to $128.00 in a research note on Tuesday, December 17th. Barclays reduced their price target on Zimmer Biomet from $118.00 to $112.00 and set an “underweight” rating on the stock in a research report on Monday, February 10th. Truist Financial restated a “hold” rating and issued a $113.00 target price (down previously from $118.00) on shares of Zimmer Biomet in a report on Monday, February 10th. Finally, BTIG Research reiterated a “buy” rating on shares of Zimmer Biomet in a research note on Monday. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $124.15.

Zimmer Biomet Price Performance

The stock has a market capitalization of $19.35 billion, a P/E ratio of 21.85, a price-to-earnings-growth ratio of 1.95 and a beta of 0.84. The firm has a 50-day moving average price of $106.19 and a 200 day moving average price of $106.99. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.99 and a current ratio of 1.91.

Zimmer Biomet (NYSE:ZBH) last issued its earnings results on Thursday, February 6th. The medical equipment provider reported $2.31 EPS for the quarter, topping analysts’ consensus estimates of $2.30 by $0.01. Zimmer Biomet had a net margin of 11.77% and a return on equity of 12.99%. During the same period in the previous year, the firm posted $2.20 EPS. On average, analysts expect that Zimmer Biomet Holdings, Inc. will post 8.22 EPS for the current year.

Zimmer Biomet Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be paid a $0.24 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.96 annualized dividend and a dividend yield of 0.99%. Zimmer Biomet’s payout ratio is presently 21.57%.

Insider Activity

In other news, SVP Lori Winkler sold 1,443 shares of Zimmer Biomet stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $104.40, for a total transaction of $150,649.20. Following the transaction, the senior vice president now owns 8,768 shares in the company, valued at $915,379.20. This trade represents a 14.13 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.95% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Roman Butler Fullerton & Co. purchased a new stake in shares of Zimmer Biomet in the fourth quarter worth $473,000. KLCM Advisors Inc. purchased a new position in shares of Zimmer Biomet in the fourth quarter valued at about $7,825,000. Peddock Capital Advisors LLC bought a new position in shares of Zimmer Biomet in the fourth quarter worth about $654,000. Van ECK Associates Corp lifted its holdings in shares of Zimmer Biomet by 5.9% in the fourth quarter. Van ECK Associates Corp now owns 3,955,449 shares of the medical equipment provider’s stock worth $417,814,000 after buying an additional 218,688 shares in the last quarter. Finally, Reinhart Partners LLC. boosted its holdings in shares of Zimmer Biomet by 34.4% during the 4th quarter. Reinhart Partners LLC. now owns 86,755 shares of the medical equipment provider’s stock valued at $9,164,000 after purchasing an additional 22,220 shares during 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.