Zimmer Biomet (NYSE:ZBH) Reaches New 12-Month Low - What's Next?

Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Get Free Report)'s stock price reached a new 52-week low during trading on Tuesday . The stock traded as low as $89.24 and last traded at $90.76, with a volume of 212962 shares traded. The stock had previously closed at $91.11.

Wall Street Analysts Forecast Growth

Several research firms have commented on ZBH. Robert W. Baird dropped their price target on shares of Zimmer Biomet from $130.00 to $115.00 and set an "outperform" rating for the company in a research note on Tuesday, May 6th. Wells Fargo & Company dropped their price target on shares of Zimmer Biomet from $113.00 to $98.00 and set an "equal weight" rating for the company in a research note on Tuesday, May 6th. The Goldman Sachs Group decreased their price objective on shares of Zimmer Biomet from $120.00 to $104.00 and set a "neutral" rating for the company in a research report on Tuesday, May 6th. JPMorgan Chase & Co. decreased 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 report on Tuesday, May 6th. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of Zimmer Biomet in a research report on Friday, February 7th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eight have assigned a buy rating to the company's stock. According to data from MarketBeat, Zimmer Biomet has an average rating of "Hold" and an average price target of $111.53.

Zimmer Biomet Trading Down 0.3%

The stock has a market capitalization of $18.11 billion, a PE ratio of 20.57, a PEG ratio of 1.95 and a beta of 0.78. 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 business's 50-day moving average is $99.19 and its two-hundred day moving average is $104.50.

Zimmer Biomet (NYSE:ZBH - Get Free Report) last announced its earnings results on Monday, May 5th. The medical equipment provider reported $1.81 EPS for the quarter, beating 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 during the quarter, compared to analysts' expectations of $1.89 billion. During the same period in the prior year, the company earned $1.94 earnings per share. The business's revenue was up 1.1% compared to the same quarter last year. On average, analysts anticipate that Zimmer Biomet Holdings, Inc. will post 8.22 earnings per share for the current fiscal year.

Zimmer Biomet Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Thursday, June 26th will be issued a $0.24 dividend. The ex-dividend date is Thursday, June 26th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.05%. Zimmer Biomet's payout ratio is 21.24%.

Institutional Investors Weigh In On Zimmer Biomet

Institutional investors and hedge funds have recently made changes to their positions in the business. Stonebridge Financial Group LLC purchased a new position in Zimmer Biomet during the fourth quarter worth about $25,000. Garde Capital Inc. purchased a new position in Zimmer Biomet during the first quarter worth about $29,000. Menard Financial Group LLC purchased a new position in Zimmer Biomet during the fourth quarter worth about $30,000. Washington Trust Advisors Inc. purchased a new position in Zimmer Biomet during the first quarter worth about $30,000. Finally, Columbia River Financial Group LLC purchased a new position in Zimmer Biomet during the first quarter worth about $30,000. 88.89% of the stock is owned by hedge funds and other 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.