Zimmer Biomet (NYSE:ZBH) Downgraded by Needham & Company LLC to “Hold”

Zimmer Biomet (NYSE:ZBH – Get Rating) was downgraded by equities research analysts at Needham & Company LLC from a “buy” rating to a “hold” rating in a report released on Friday, The Fly reports.

Several other equities research analysts have also commented on ZBH. Wells Fargo & Company cut their price target on shares of Zimmer Biomet from $124.00 to $111.00 and set an “underweight” rating on the stock in a research note on Tuesday, February 8th. SVB Leerink reduced their target price on Zimmer Biomet from $150.00 to $135.00 and set an “outperform” rating for the company in a report on Tuesday, February 8th. JMP Securities dropped their price target on Zimmer Biomet from $175.00 to $145.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 8th. JPMorgan Chase & Co. reduced their price target on shares of Zimmer Biomet from $150.00 to $114.00 and set a “neutral” rating for the company in a research report on Tuesday, February 8th. Finally, Truist Financial decreased their price objective on Zimmer Biomet from $142.00 to $131.00 in a research report on Wednesday, May 4th. Two equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $140.65.

NYSE:ZBH opened at $120.65 on Friday. Zimmer Biomet has a 12 month low of $108.47 and a 12 month high of $169.98. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.69 and a quick ratio of 0.89. The firm has a market capitalization of $25.29 billion, a PE ratio of 117.14, a price-to-earnings-growth ratio of 2.82 and a beta of 1.16. The business’s fifty day moving average price is $123.24 and its 200 day moving average price is $123.90.

Zimmer Biomet (NYSE:ZBH – Get Rating) last issued its earnings results on Tuesday, May 3rd. The medical equipment provider reported $1.61 earnings per share for the quarter, topping the consensus estimate of $1.40 by $0.21. The business had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.59 billion. Zimmer Biomet had a return on equity of 12.23% and a net margin of 2.85%. The business’s quarterly revenue was up 3.9% on a year-over-year basis. During the same quarter last year, the company earned $1.71 EPS. As a group, equities analysts anticipate that Zimmer Biomet will post 6.72 EPS for the current year.

In other Zimmer Biomet news, VP Chad F. Phipps sold 35,149 shares of the company’s stock in a transaction dated Thursday, March 17th. The shares were sold at an average price of $121.97, for a total transaction of $4,287,123.53. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 0.73% of the company’s stock.

Several hedge funds have recently made changes to their positions in the company. Gilman Hill Asset Management LLC increased its stake in Zimmer Biomet by 0.9% in the first quarter. Gilman Hill Asset Management LLC now owns 8,996 shares of the medical equipment provider’s stock valued at $1,151,000 after purchasing an additional 81 shares in the last quarter. Donaldson Capital Management LLC lifted its holdings in shares of Zimmer Biomet by 5.2% in the fourth quarter. Donaldson Capital Management LLC now owns 1,655 shares of the medical equipment provider’s stock valued at $210,000 after purchasing an additional 82 shares in the last quarter. SYM FINANCIAL Corp grew its stake in shares of Zimmer Biomet by 4.9% during the 1st quarter. SYM FINANCIAL Corp now owns 1,769 shares of the medical equipment provider’s stock worth $226,000 after acquiring an additional 82 shares in the last quarter. Roberts Glore & Co. Inc. IL increased its stake in Zimmer Biomet by 1.0% in the 1st quarter. Roberts Glore & Co. Inc. IL now owns 8,323 shares of the medical equipment provider’s stock valued at $1,065,000 after buying an additional 85 shares during the last quarter. Finally, Centaurus Financial Inc. raised its holdings in Zimmer Biomet by 4.0% during the third quarter. Centaurus Financial Inc. now owns 2,251 shares of the medical equipment provider’s stock worth $329,000 after acquiring an additional 87 shares in the last quarter. 90.34% of the stock is owned by institutional investors.

Zimmer Biomet Company Profile (Get Rating)

Zimmer Biomet Holdings, Inc, together with its subsidiaries, operates in the musculoskeletal healthcare business in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company designs, manufactures, and markets orthopaedic reconstructive products, such as knee and hip products; S.E.T.

Further Reading

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