Raymond James Has Lowered Expectations for Zimmer Biomet (NYSE:ZBH) Stock Price

Zimmer Biomet (NYSE:ZBH) had its target price reduced by research analysts at Raymond James from $126.00 to $119.00 in a report issued on Friday,Benzinga reports. The brokerage presently has an “outperform” rating on the medical equipment provider’s stock. Raymond James’ price objective indicates a potential upside of 17.01% from the company’s previous close.

ZBH has been the topic of a number of other reports. Royal Bank of Canada raised their price target on shares of Zimmer Biomet from $120.00 to $125.00 and gave the stock an “outperform” rating in a research report on Monday, November 4th. Barclays lowered their price target on shares of Zimmer Biomet from $125.00 to $118.00 and set an “underweight” rating for the company in a report on Thursday, December 12th. JPMorgan Chase & Co. upgraded shares of Zimmer Biomet from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $125.00 to $128.00 in a research note on Tuesday, December 17th. Truist Financial lifted their price target on shares of Zimmer Biomet from $117.00 to $118.00 and gave the company a “hold” rating in a research report on Wednesday, December 18th. Finally, Stifel Nicolaus lifted their price objective on shares of Zimmer Biomet from $130.00 to $138.00 and gave the stock a “buy” rating in a report on Thursday, January 23rd. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $124.70.

Zimmer Biomet Trading Down 1.0 %

Zimmer Biomet stock traded down $0.99 during midday trading on Friday, reaching $101.70. The stock had a trading volume of 1,118,438 shares, compared to its average volume of 1,769,172. The firm has a market cap of $20.25 billion, a price-to-earnings ratio of 19.35, a PEG ratio of 1.88 and a beta of 1.02. The firm’s fifty day simple moving average is $107.56 and its two-hundred day simple moving average is $108.16. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.36 and a quick ratio of 0.70. Zimmer Biomet has a twelve month low of $100.67 and a twelve month high of $133.90.

Zimmer Biomet (NYSE:ZBH) last announced its quarterly earnings results on Thursday, February 6th. The medical equipment provider reported $2.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.30 by $0.01. Zimmer Biomet had a net margin of 14.27% and a return on equity of 12.95%. During the same quarter in the prior year, the company posted $2.20 earnings per share. Equities analysts anticipate that Zimmer Biomet will post 7.99 EPS for the current fiscal year.

Institutional Investors Weigh In On Zimmer Biomet

A number of institutional investors and hedge funds have recently bought and sold shares of ZBH. BLB&B Advisors LLC grew its position in Zimmer Biomet by 2.1% during the third quarter. BLB&B Advisors LLC now owns 4,900 shares of the medical equipment provider’s stock valued at $529,000 after acquiring an additional 100 shares during the last quarter. CKW Financial Group lifted its stake in Zimmer Biomet by 11.7% in the fourth quarter. CKW Financial Group now owns 955 shares of the medical equipment provider’s stock worth $101,000 after acquiring an additional 100 shares during the period. FWG Holdings LLC lifted its position in Zimmer Biomet by 2.9% during the third quarter. FWG Holdings LLC now owns 3,591 shares of the medical equipment provider’s stock valued at $372,000 after buying an additional 101 shares during the period. Romano Brothers AND Company raised its position in shares of Zimmer Biomet by 1.1% in the 4th quarter. Romano Brothers AND Company now owns 9,466 shares of the medical equipment provider’s stock worth $1,000,000 after purchasing an additional 102 shares during the last quarter. Finally, Dorsey & Whitney Trust CO LLC raised its position in shares of Zimmer Biomet by 2.3% in the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 4,594 shares of the medical equipment provider’s stock worth $485,000 after purchasing an additional 102 shares during the last quarter. 88.89% of the stock is 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.