Zimmer Biomet (NYSE:ZBH) Reaches New 52-Week Low - Here's Why

Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Get Free Report)'s stock price hit a new 52-week low during trading on Monday . The company traded as low as $93.10 and last traded at $96.38, with a volume of 2256366 shares changing hands. The stock had previously closed at $97.92.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on ZBH shares. Truist Financial reissued a "hold" rating and set a $113.00 price objective (down from $118.00) on shares of Zimmer Biomet in a research note on Monday, February 10th. Royal Bank of Canada decreased their price target on Zimmer Biomet from $130.00 to $125.00 and set an "outperform" rating for the company in a research report on Friday, February 7th. Raymond James cut their price objective on Zimmer Biomet from $126.00 to $119.00 and set an "outperform" rating on the stock in a report on Friday, February 7th. BTIG Research reiterated a "buy" rating on shares of Zimmer Biomet in a report on Monday, April 14th. Finally, JMP Securities restated a "market outperform" rating and issued a $140.00 price target on shares of Zimmer Biomet in a research report on Friday, February 7th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $124.15.

Zimmer Biomet Stock Down 0.0 %

The stock has a market cap of $20.07 billion, a price-to-earnings ratio of 22.80, a P/E/G ratio of 1.95 and a beta of 0.84. The business has a fifty day moving average of $105.81 and a 200 day moving average of $106.56. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.91 and a quick ratio of 0.99.

Zimmer Biomet (NYSE:ZBH - Get Free Report) last posted its earnings results on Thursday, February 6th. The medical equipment provider reported $2.31 EPS for the quarter, topping the consensus estimate 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 quarter in the prior year, the business earned $2.20 EPS. On average, 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 disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.95%. The ex-dividend date of this dividend is Monday, March 31st. Zimmer Biomet's payout ratio is 21.57%.

Insider Buying and Selling

In other Zimmer Biomet news, SVP Lori Winkler sold 1,443 shares of the business's 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 completion of the transaction, the senior vice president now owns 8,768 shares of the company's stock, valued at $915,379.20. The trade was a 14.13 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.70% of the stock is owned by insiders.

Hedge Funds Weigh In On Zimmer Biomet

Institutional investors have recently made changes to their positions in the business. Stonebridge Financial Group LLC acquired a new stake in Zimmer Biomet in the 4th quarter valued at approximately $25,000. Garde Capital Inc. acquired a new stake in shares of Zimmer Biomet in the first quarter worth $29,000. Washington Trust Advisors Inc. bought a new position in Zimmer Biomet during the first quarter worth $30,000. Menard Financial Group LLC acquired a new position in Zimmer Biomet during the 4th quarter valued at $30,000. Finally, Accredited Wealth Management LLC bought a new stake in Zimmer Biomet in the 4th quarter valued at $36,000. 88.89% of the stock is currently owned by 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.