Oppenheimer Trims Zimmer Biomet (NYSE:ZBH) Target Price to $135.00

Zimmer Biomet (NYSE:ZBH) had its target price reduced by equities research analysts at Oppenheimer from $145.00 to $135.00 in a research report issued on Tuesday, Benzinga reports. The firm presently has an “outperform” rating on the medical equipment provider’s stock. Oppenheimer’s price target would suggest a potential upside of 29.93% from the stock’s current price.

Other research analysts have also issued reports about the stock. UBS Group cut their price objective on shares of Zimmer Biomet from $112.00 to $107.00 and set a “sell” rating on the stock in a report on Thursday, August 8th. Wolfe Research started coverage on shares of Zimmer Biomet in a research note on Tuesday, September 10th. They set a “peer perform” rating on the stock. JPMorgan Chase & Co. lowered their price objective on shares of Zimmer Biomet from $125.00 to $120.00 and set a “neutral” rating for the company in a research note on Monday, September 16th. Piper Sandler lowered Zimmer Biomet from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $140.00 to $115.00 in a research report on Monday, July 1st. Finally, Truist Financial reissued a “hold” rating and set a $112.00 price target (down previously from $117.00) on shares of Zimmer Biomet in a research report on Friday, September 13th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and eight have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $123.74.

Zimmer Biomet Stock Down 0.9 %

Shares of NYSE ZBH opened at $103.90 on Tuesday. The firm has a market cap of $21.38 billion, a P/E ratio of 22.49, a price-to-earnings-growth ratio of 1.89 and a beta of 1.02. 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 has a 1 year low of $101.47 and a 1 year high of $133.90. The firm’s 50 day moving average price is $108.33 and its 200 day moving average price is $112.88.

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

Institutional Trading of Zimmer Biomet

Hedge funds and other institutional investors have recently modified their holdings of the business. Chicago Partners Investment Group LLC grew its stake in Zimmer Biomet by 3.3% during 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 purchasing an additional 92 shares in the last quarter. North Star Investment Management Corp. grew its position in shares of Zimmer Biomet by 16.6% during the first quarter. North Star Investment Management Corp. now owns 669 shares of the medical equipment provider’s stock worth $88,000 after buying an additional 95 shares in the last quarter. First Bancorp Inc ME increased its stake in shares of 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 worth $260,000 after buying an additional 100 shares during the last quarter. Ballentine Partners LLC raised its holdings in Zimmer Biomet by 2.6% in the first quarter. Ballentine Partners LLC now owns 3,957 shares of the medical equipment provider’s stock valued at $522,000 after acquiring an additional 100 shares in the last quarter. Finally, Romano Brothers AND Company boosted its stake in Zimmer Biomet by 1.1% during the 1st quarter. Romano Brothers AND Company now owns 9,514 shares of the medical equipment provider’s stock valued at $1,256,000 after acquiring an additional 100 shares during the last quarter. 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.