Truist Financial Raises Zimmer Biomet (NYSE:ZBH) Price Target to $135.00

Zimmer Biomet (NYSE:ZBHGet Free Report) had its price target raised by investment analysts at Truist Financial from $133.00 to $135.00 in a research report issued on Friday, Benzinga reports. The brokerage presently has a “hold” rating on the medical equipment provider’s stock. Truist Financial’s price objective suggests a potential upside of 9.93% from the stock’s current price.

ZBH has been the subject of several other reports. Raymond James lifted their price target on Zimmer Biomet from $133.00 to $137.00 and gave the company an “outperform” rating in a research report on Wednesday, January 3rd. JPMorgan Chase & Co. boosted their price objective on Zimmer Biomet from $115.00 to $125.00 and gave the company a “neutral” rating in a research report on Friday. JMP Securities cut their price objective on 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 assumed coverage on Zimmer Biomet in a research report on Friday, October 20th. They issued a “neutral” rating and a $120.00 price objective for the company. Finally, Morgan Stanley boosted their price objective on Zimmer Biomet from $120.00 to $125.00 and gave the company an “equal weight” rating in a research report on Monday, December 4th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Zimmer Biomet currently has a consensus rating of “Hold” and a consensus price target of $138.11.

Check Out Our Latest Report on Zimmer Biomet

Zimmer Biomet Stock Down 0.2 %

Shares of ZBH stock opened at $122.80 on Friday. The stock has a 50 day moving average of $121.39 and a 200 day moving average of $117.52. The company has a current ratio of 1.61, a quick ratio of 0.99 and a debt-to-equity ratio of 0.39. The stock has a market cap of $25.66 billion, a P/E ratio of 25.11, a P/E/G ratio of 2.24 and a beta of 1.03. Zimmer Biomet has a twelve month low of $102.00 and a twelve month high of $149.25.

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 company had revenue of $1.94 billion during the quarter, compared to analysts’ expectations of $1.93 billion. Zimmer Biomet had a return on equity of 12.79% and a net margin of 13.85%. Zimmer Biomet’s quarterly revenue was up 6.3% on a year-over-year basis. During the same period last year, the business earned $1.88 earnings per share. As a group, sell-side analysts expect that Zimmer Biomet will post 8.03 EPS for the current year.

Institutional Investors Weigh In On Zimmer Biomet

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Primecap Management Co. CA raised 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 valued at $619,037,000 after purchasing an additional 484,151 shares during the period. Nomura Asset Management Co. Ltd. raised its holdings in shares of Zimmer Biomet by 3.5% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 57,235 shares of the medical equipment provider’s stock valued at $6,966,000 after buying an additional 1,935 shares during the period. Nixon Peabody Trust Co. purchased a new stake in shares of Zimmer Biomet in the 4th quarter valued at $501,000. SageView Advisory Group LLC purchased a new stake in shares of Zimmer Biomet in the 4th quarter valued at $321,000. Finally, Brandes Investment Partners LP purchased a new stake in shares of Zimmer Biomet in the 4th quarter valued at $214,000. Hedge funds and other institutional investors own 87.48% of the company’s stock.

About Zimmer Biomet

(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.

Further Reading

Analyst Recommendations for Zimmer Biomet (NYSE:ZBH)

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