Zimmer Biomet (NYSE:ZBH) Hits New 1-Year Low - Here's Why

Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Get Free Report) shares reached a new 52-week low on Monday . The company traded as low as $90.51 and last traded at $93.08, with a volume of 1059379 shares changing hands. The stock had previously closed at $102.38.

Analysts Set New Price Targets

A number of research firms recently issued reports on ZBH. JMP Securities decreased their price objective on shares of Zimmer Biomet from $140.00 to $125.00 and set a "market outperform" rating for the company in a report on Wednesday. Needham & Company LLC reissued a "hold" rating on shares of Zimmer Biomet in a report on Friday, February 7th. Truist Financial set a $101.00 target price on shares of Zimmer Biomet in a research report on Tuesday. Royal Bank of Canada cut their price objective on shares of Zimmer Biomet from $125.00 to $112.00 and set an "outperform" rating for the company in a report on Tuesday. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Zimmer Biomet from $128.00 to $105.00 and set an "overweight" rating for the company in a research note on Tuesday. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $114.15.

Zimmer Biomet Stock Up 0.5 %

The company has a quick ratio of 0.99, a current ratio of 1.91 and a debt-to-equity ratio of 0.43. The company has a market capitalization of $18.72 billion, a price-to-earnings ratio of 21.26, a P/E/G ratio of 1.95 and a beta of 0.78. The business's 50-day moving average is $104.81 and its 200-day moving average is $106.24.

Zimmer Biomet (NYSE:ZBH - Get Free Report) last issued its quarterly earnings data on Monday, May 5th. The medical equipment provider reported $1.81 EPS for the quarter, topping analysts' consensus estimates of $1.77 by $0.04. Zimmer Biomet had a net margin of 11.77% and a return on equity of 12.99%. The business had revenue of $1.91 billion for the quarter, compared to analysts' expectations of $1.89 billion. During the same quarter last year, the company earned $1.94 EPS. The business's revenue was up 1.1% on a year-over-year basis. As a group, equities analysts predict that Zimmer Biomet Holdings, Inc. will post 8.22 earnings per share for the current year.

Zimmer Biomet Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st were given a $0.24 dividend. The ex-dividend date was Monday, March 31st. This represents a $0.96 annualized dividend and a dividend yield of 1.01%. Zimmer Biomet's dividend payout ratio (DPR) is presently 21.24%.

Insider Buying and Selling at Zimmer Biomet

In other Zimmer Biomet news, SVP Lori Winkler sold 1,443 shares of Zimmer Biomet stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $104.40, for a total value of $150,649.20. Following the sale, the senior vice president now owns 8,768 shares in the company, valued at $915,379.20. The trade was a 14.13 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.39% of the stock is owned by insiders.

Hedge Funds Weigh In On Zimmer Biomet

Hedge funds have recently added to or reduced their stakes in the stock. Stonebridge Financial Group LLC purchased a new position in Zimmer Biomet during the 4th quarter worth $25,000. Garde Capital Inc. acquired a new stake in shares of Zimmer Biomet in the 1st quarter valued at approximately $29,000. Menard Financial Group LLC purchased a new position in Zimmer Biomet in the fourth quarter worth $30,000. Washington Trust Advisors Inc. purchased a new stake in shares of Zimmer Biomet during the 1st quarter worth $30,000. Finally, Columbia River Financial Group LLC purchased a new position in shares of Zimmer Biomet in the 1st quarter valued at about $30,000. 88.89% of the stock is currently owned by hedge funds and other institutional investors.

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.