Evercore ISI Trims Zimmer Biomet (NYSE:ZBH) Target Price to $113.00

Zimmer Biomet (NYSE:ZBH) had its price target reduced by Evercore ISI from $115.00 to $113.00 in a research note released on Thursday, Benzinga reports. They currently have an in-line rating on the medical equipment provider’s stock.

A number of other research analysts have also recently issued reports on the stock. Citigroup decreased their price objective on shares of Zimmer Biomet from $134.00 to $120.00 and set a neutral rating for the company in a report on Wednesday, July 10th. Truist Financial lowered their price objective on shares of Zimmer Biomet from $130.00 to $117.00 and set a hold rating for the company in a research report on Tuesday, July 16th. Argus upgraded Zimmer Biomet from a hold rating to a buy rating and set a $150.00 target price on the stock in a report on Tuesday, May 21st. Morgan Stanley decreased their target price on Zimmer Biomet from $130.00 to $120.00 and set an equal weight rating for the company in a research note on Monday, July 15th. Finally, Barclays dropped their price target on Zimmer Biomet from $130.00 to $125.00 and set an underweight rating on the stock in a research report on Friday, May 31st. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of Hold and an average target price of $127.67.

Zimmer Biomet Price Performance

Shares of ZBH stock opened at $108.08 on Thursday. The firm’s 50 day moving average price is $108.98 and its two-hundred day moving average price is $118.58. The stock has a market cap of $22.01 billion, a PE ratio of 23.39, a PEG ratio of 1.88 and a beta of 1.01. Zimmer Biomet has a 52-week low of $102.00 and a 52-week high of $133.90. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.63 and a current ratio of 1.29.

Zimmer Biomet (NYSE:ZBH) last announced its quarterly earnings data on Wednesday, August 7th. The medical equipment provider reported $2.01 EPS for the quarter, topping analysts’ consensus estimates of $1.99 by $0.02. Zimmer Biomet had a return on equity of 12.86% and a net margin of 13.25%. The business had revenue of $1.94 billion during the quarter, compared to analysts’ expectations of $1.94 billion. During the same period in the previous year, the firm earned $1.82 earnings per share. The firm’s quarterly revenue was up 3.9% compared to the same quarter last year. As a group, analysts forecast that Zimmer Biomet will post 8.08 EPS for the current year.

Institutional Investors Weigh In On Zimmer Biomet

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Chicago Partners Investment Group LLC raised its holdings in Zimmer Biomet by 3.3% in the 4th quarter. Chicago Partners Investment Group LLC now owns 2,894 shares of the medical equipment provider’s stock valued at $349,000 after acquiring an additional 92 shares in the last quarter. North Star Investment Management Corp. increased its position in shares of Zimmer Biomet by 16.6% in the first quarter. North Star Investment Management Corp. now owns 669 shares of the medical equipment provider’s stock worth $88,000 after purchasing an additional 95 shares during the period. First Bancorp Inc ME raised its stake in Zimmer Biomet by 5.3% in the first quarter. First Bancorp Inc ME now owns 1,970 shares of the medical equipment provider’s stock valued at $260,000 after purchasing an additional 100 shares in the last quarter. Ballentine Partners LLC lifted its position in Zimmer Biomet by 2.6% during the first quarter. Ballentine Partners LLC now owns 3,957 shares of the medical equipment provider’s stock worth $522,000 after purchasing an additional 100 shares during the period. Finally, Romano Brothers AND Company grew its stake in Zimmer Biomet by 1.1% during the first quarter. Romano Brothers AND Company now owns 9,514 shares of the medical equipment provider’s stock worth $1,256,000 after buying an additional 100 shares in the last quarter. 88.89% of the stock is currently owned by institutional investors and hedge funds.

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.