Zimmer Biomet (NYSE:ZBH) Price Target Cut to $130.00

Zimmer Biomet (NYSE:ZBH) had its price target dropped by equities researchers at Truist Financial from $137.00 to $130.00 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 target would indicate a potential upside of 6.86% from the stock’s current price.

A number of other brokerages have also weighed in on ZBH. StockNews.com lowered Zimmer Biomet from a “strong-buy” rating to a “buy” rating in a research note on Monday, February 19th. Oppenheimer upped their target price on Zimmer Biomet from $150.00 to $155.00 and gave the stock an “outperform” rating in a research note on Friday. JPMorgan Chase & Co. upped their target price on Zimmer Biomet from $115.00 to $125.00 and gave the stock a “neutral” rating in a research note on Friday, February 9th. Barclays upped their target price on Zimmer Biomet from $120.00 to $130.00 and gave the stock an “underweight” rating in a research note on Monday, February 12th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $140.00 target price on shares of Zimmer Biomet in a research note on Friday, February 9th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, Zimmer Biomet currently has an average rating of “Hold” and a consensus price target of $135.40.

Zimmer Biomet Stock Performance

Shares of ZBH opened at $121.66 on Friday. The stock’s 50-day simple moving average is $125.30 and its 200 day simple moving average is $120.02. The stock has a market capitalization of $25.00 billion, a price-to-earnings ratio of 26.33, a price-to-earnings-growth ratio of 2.17 and a beta of 1.03. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.78 and a current ratio of 1.66. Zimmer Biomet has a 52-week low of $102.00 and a 52-week high of $147.50.

Zimmer Biomet (NYSE:ZBH) last issued its quarterly earnings data on Thursday, May 2nd. The medical equipment provider reported $1.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.87 by $0.07. The business had revenue of $1.89 billion for the quarter, compared to analysts’ expectations of $1.87 billion. Zimmer Biomet had a return on equity of 12.70% and a net margin of 12.93%. The firm’s quarterly revenue was up 3.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.89 EPS. Research analysts forecast that Zimmer Biomet will post 8.08 EPS for the current fiscal year.

Insider Activity at Zimmer Biomet

In related news, VP Chad F. Phipps sold 26,156 shares of the stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $128.62, for a total transaction of $3,364,184.72. Following the completion of the sale, the vice president now directly owns 44,145 shares in the company, valued at approximately $5,677,929.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.95% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Zimmer Biomet

Several institutional investors and hedge funds have recently bought and sold shares of ZBH. OLD Point Trust & Financial Services N A purchased a new stake in Zimmer Biomet in the 4th quarter worth approximately $26,000. Ables Iannone Moore & Associates Inc. purchased a new stake in Zimmer Biomet in the 4th quarter worth approximately $30,000. Naples Money Management LLC purchased a new stake in Zimmer Biomet in the 4th quarter worth approximately $35,000. Activest Wealth Management lifted its holdings in Zimmer Biomet by 410.4% in the 4th quarter. Activest Wealth Management now owns 342 shares of the medical equipment provider’s stock worth $42,000 after buying an additional 275 shares during the period. Finally, Peoples Bank KS purchased a new stake in Zimmer Biomet in the 3rd quarter worth approximately $48,000. Hedge funds and other institutional investors own 88.89% of the company’s stock.

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.