Royal Bank of Canada Reiterates Outperform Rating for Zimmer Biomet (NYSE:ZBH)

Zimmer Biomet (NYSE:ZBHGet Free Report)‘s stock had its “outperform” rating reiterated by research analysts at Royal Bank of Canada in a research report issued on Friday, Benzinga reports. They presently have a $140.00 price target on the medical equipment provider’s stock. Royal Bank of Canada’s target price suggests a potential upside of 14.01% from the stock’s previous close.

Several other equities research analysts have also recently commented on the stock. Evercore ISI cut shares of Zimmer Biomet from an “outperform” rating to an “inline” rating and dropped their target price for the stock from $135.00 to $125.00 in a research report on Thursday, January 4th. JMP Securities dropped their target price on shares of Zimmer Biomet from $160.00 to $140.00 and set a “market outperform” rating for the company in a research report on Monday, November 13th. Roth Mkm began coverage on shares of Zimmer Biomet in a research report on Friday, October 20th. They issued a “neutral” rating and a $120.00 target price for the company. Morgan Stanley raised their target price on shares of Zimmer Biomet from $120.00 to $125.00 and gave the stock an “equal weight” rating in a research report on Monday, December 4th. Finally, JPMorgan Chase & Co. lowered their price target on shares of Zimmer Biomet from $146.00 to $115.00 and set a “neutral” rating for the company in a research report on Wednesday, November 8th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $138.11.

Check Out Our Latest Analysis on Zimmer Biomet

Zimmer Biomet Price Performance

Shares of Zimmer Biomet stock opened at $122.80 on Friday. Zimmer Biomet has a 52-week low of $102.00 and a 52-week high of $149.25. The stock has a market capitalization of $25.66 billion, a price-to-earnings ratio of 25.11, a price-to-earnings-growth ratio of 2.24 and a beta of 1.03. The company has a fifty day moving average of $121.39 and a 200-day moving average of $117.52. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.99 and a current ratio of 1.61.

Zimmer Biomet (NYSE:ZBHGet Free Report) last announced its quarterly earnings results on Thursday, February 8th. The medical equipment provider reported $2.20 earnings per share for the quarter, beating the consensus estimate of $2.15 by $0.05. The business had revenue of $1.94 billion during the quarter, compared to analysts’ expectations of $1.93 billion. Zimmer Biomet had a net margin of 13.85% and a return on equity of 12.79%. The firm’s revenue for the quarter was up 6.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.88 EPS. Equities research analysts expect that Zimmer Biomet will post 8.03 EPS for the current year.

Hedge Funds Weigh In On Zimmer Biomet

Several hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. increased its position in Zimmer Biomet by 19.0% in the first quarter. Vanguard Group Inc. now owns 23,102,761 shares of the medical equipment provider’s stock worth $2,954,843,000 after purchasing an additional 3,695,510 shares during the last quarter. BlackRock Inc. increased its position in Zimmer Biomet by 5.2% in the second quarter. BlackRock Inc. now owns 22,098,606 shares of the medical equipment provider’s stock worth $3,217,557,000 after purchasing an additional 1,094,431 shares during the last quarter. State Street Corp increased its position in Zimmer Biomet by 3.6% in the second quarter. State Street Corp now owns 9,056,896 shares of the medical equipment provider’s stock worth $1,320,827,000 after purchasing an additional 318,082 shares during the last quarter. Primecap Management Co. CA increased its position in Zimmer Biomet by 10.5% in the fourth quarter. Primecap Management Co. CA now owns 5,086,578 shares of the medical equipment provider’s stock worth $619,037,000 after purchasing an additional 484,151 shares during the last quarter. Finally, American Century Companies Inc. increased its position in Zimmer Biomet by 21.2% in the third quarter. American Century Companies Inc. now owns 4,863,741 shares of the medical equipment provider’s stock worth $545,809,000 after purchasing an additional 852,186 shares during the last quarter. Hedge funds and other institutional investors own 87.48% of the company’s stock.

Zimmer Biomet Company Profile

(Get Free Report)

Zimmer Biomet Holdings, Inc, together with its subsidiaries, operates as a medical technology company 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. 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.

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Analyst Recommendations for Zimmer Biomet (NYSE:ZBH)

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