Zimmer Biomet (NYSE:ZBH) Price Target Cut to $126.00

Zimmer Biomet (NYSE:ZBH) had its price target dropped by research analysts at BTIG Research from $134.00 to $126.00 in a note issued to investors on Thursday, Benzinga reports. The firm currently has a “buy” rating on the medical equipment provider’s stock. BTIG Research’s price objective would suggest a potential upside of 20.37% from the stock’s previous close.

A number of other research analysts have also recently issued reports on the stock. Citigroup cut their target price on shares of Zimmer Biomet from $134.00 to $120.00 and set a “neutral” rating for the company in a research note on Wednesday, July 10th. Evercore ISI lowered their price target on shares of Zimmer Biomet from $113.00 to $110.00 and set an “in-line” rating for the company in a report on Tuesday. Truist Financial reaffirmed a “hold” rating and set a $112.00 target price (down previously from $117.00) on shares of Zimmer Biomet in a report on Friday, September 13th. Wolfe Research began coverage on shares of Zimmer Biomet in a report on Tuesday, September 10th. They issued a “peer perform” rating for the company. Finally, Royal Bank of Canada decreased their price target on shares of Zimmer Biomet from $140.00 to $130.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, Zimmer Biomet currently has an average rating of “Hold” and an average price target of $125.05.

Zimmer Biomet Stock Up 0.5 %

ZBH stock opened at $104.68 on Thursday. Zimmer Biomet has a twelve month low of $102.00 and a twelve month high of $133.90. The company has a market cap of $21.54 billion, a PE ratio of 22.66, a price-to-earnings-growth ratio of 1.94 and a beta of 1.02. The business’s 50-day simple moving average is $109.19 and its 200 day simple moving average is $114.16. 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 (NYSE:ZBH) last released its earnings results on Wednesday, August 7th. The medical equipment provider reported $2.01 earnings per share for the quarter, topping analysts’ consensus estimates of $1.99 by $0.02. The business had revenue of $1.94 billion for the quarter, compared to the consensus estimate of $1.94 billion. Zimmer Biomet had a return on equity of 12.86% and a net margin of 13.25%. The firm’s revenue for the quarter was up 3.9% compared to the same quarter last year. During the same period last year, the business earned $1.82 earnings per share. On average, research analysts anticipate that Zimmer Biomet will post 8 earnings per share for the current year.

Institutional Investors Weigh In On Zimmer Biomet

A number of institutional investors and hedge funds have recently modified their holdings of the company. Price T Rowe Associates Inc. MD grew its stake in Zimmer Biomet by 12.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 10,642,801 shares of the medical equipment provider’s stock valued at $1,404,638,000 after buying an additional 1,215,935 shares during the last quarter. American Century Companies Inc. lifted its stake in Zimmer Biomet by 12.6% in the 2nd quarter. American Century Companies Inc. now owns 6,463,845 shares of the medical equipment provider’s stock valued at $701,521,000 after purchasing an additional 722,041 shares during the last quarter. Boston Partners lifted its stake in Zimmer Biomet by 26.3% in the 1st quarter. Boston Partners now owns 3,314,939 shares of the medical equipment provider’s stock valued at $437,413,000 after purchasing an additional 691,191 shares during the last quarter. Magnetar Financial LLC lifted its stake in Zimmer Biomet by 58.7% in the 2nd quarter. Magnetar Financial LLC now owns 1,310,265 shares of the medical equipment provider’s stock valued at $142,203,000 after purchasing an additional 484,816 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. lifted its stake in Zimmer Biomet by 329.2% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 490,138 shares of the medical equipment provider’s stock valued at $53,195,000 after purchasing an additional 375,929 shares during the last quarter. 88.89% of the stock is 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.