Zimmer Biomet (NYSE:ZBH) Price Target Lowered to $123.00 at Raymond James

Zimmer Biomet (NYSE:ZBH) had its price target reduced by investment analysts at Raymond James from $128.00 to $123.00 in a note issued to investors on Monday, Benzinga reports. The brokerage currently has an “outperform” rating on the medical equipment provider’s stock. Raymond James’ price objective would suggest a potential upside of 17.64% from the company’s previous close.

ZBH has been the subject of a number of other research reports. Needham & Company LLC reiterated a “hold” rating on shares of Zimmer Biomet in a report on Tuesday, September 17th. Citigroup dropped their price target on Zimmer Biomet from $134.00 to $120.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 10th. BTIG Research decreased their price objective on Zimmer Biomet from $134.00 to $126.00 and set a “buy” rating for the company in a report on Thursday, October 3rd. Truist Financial reiterated a “hold” rating and set a $112.00 target price (down from $117.00) on shares of Zimmer Biomet in a report on Friday, September 13th. Finally, Canaccord Genuity Group lowered their price target on shares of Zimmer Biomet from $120.00 to $115.00 and set a “hold” rating for the company in a research report on Tuesday, September 10th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, Zimmer Biomet currently has an average rating of “Hold” and a consensus target price of $124.26.

Zimmer Biomet Trading Up 1.0 %

ZBH traded up $1.06 during trading hours on Monday, reaching $104.56. 435,941 shares of the company’s stock traded hands, compared to its average volume of 1,486,580. The firm has a 50-day moving average price of $108.37 and a 200 day moving average price of $113.07. The firm has a market capitalization of $21.51 billion, a PE ratio of 22.62, a PEG ratio of 1.89 and a beta of 1.02. The company has a quick ratio of 0.63, a current ratio of 1.29 and a debt-to-equity ratio of 0.31. Zimmer Biomet has a 52-week low of $101.47 and a 52-week high of $133.90.

Zimmer Biomet (NYSE:ZBH) last issued its earnings results on Wednesday, August 7th. The medical equipment provider reported $2.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.99 by $0.02. Zimmer Biomet had a net margin of 13.25% and a return on equity of 12.86%. The firm had revenue of $1.94 billion during the quarter, compared to analyst estimates of $1.94 billion. During the same period in the previous year, the firm earned $1.82 earnings per share. The business’s revenue was up 3.9% on a year-over-year basis. As a group, sell-side analysts predict that Zimmer Biomet will post 8 EPS for the current fiscal year.

Institutional Investors Weigh In On Zimmer Biomet

A number of institutional investors and hedge funds have recently modified their holdings of ZBH. Chicago Partners Investment Group LLC increased its stake in shares of Zimmer Biomet by 3.3% in the fourth quarter. Chicago Partners Investment Group LLC now owns 2,894 shares of the medical equipment provider’s stock worth $349,000 after acquiring an additional 92 shares during the period. Wellington Management Group LLP purchased a new position in shares of Zimmer Biomet during the 4th quarter valued at about $1,335,000. SageView Advisory Group LLC acquired a new position in shares of Zimmer Biomet in the 4th quarter valued at about $321,000. B. Riley Wealth Advisors Inc. boosted its stake in shares of Zimmer Biomet by 4.3% in the fourth quarter. B. Riley Wealth Advisors Inc. now owns 3,414 shares of the medical equipment provider’s stock worth $416,000 after buying an additional 141 shares during the last quarter. Finally, HighPoint Advisor Group LLC acquired a new stake in Zimmer Biomet during the fourth quarter worth about $297,000. Institutional investors and hedge funds own 88.89% of the company’s stock.

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.