Zimmer Biomet (NYSE:ZBH) PT Raised to $155.00 at Oppenheimer

Zimmer Biomet (NYSE:ZBH) had its target price hoisted by research analysts at Oppenheimer from $150.00 to $155.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm presently has an “outperform” rating on the medical equipment provider’s stock. Oppenheimer’s price target would indicate a potential upside of 27.40% from the stock’s current price.

Other equities research analysts also recently issued reports about the company. TheStreet upgraded Zimmer Biomet from a “c” rating to a “b-” rating in a report on Thursday, February 8th. Evercore ISI raised their target price on Zimmer Biomet from $125.00 to $130.00 and gave the company an “in-line” rating in a report on Thursday, April 4th. Barclays raised their target price on Zimmer Biomet from $120.00 to $130.00 and gave the company an “underweight” rating in a report on Monday, February 12th. Canaccord Genuity Group restated a “hold” rating and set a $130.00 price objective on shares of Zimmer Biomet in a report on Friday, February 23rd. Finally, Citigroup lifted their price objective on Zimmer Biomet from $134.00 to $140.00 and gave the stock a “neutral” rating in a report on Wednesday, April 3rd. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $135.40.

Zimmer Biomet Stock Performance

NYSE ZBH opened at $121.66 on Friday. The firm has a market capitalization of $25.00 billion, a P/E ratio of 26.33, a P/E/G ratio of 2.17 and a beta of 1.03. Zimmer Biomet has a 1-year low of $102.00 and a 1-year high of $147.50. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.66 and a quick ratio of 0.78. The business’s 50-day simple moving average is $125.30 and its 200-day simple moving average is $120.02.

Zimmer Biomet (NYSE:ZBH) last released its quarterly earnings data on Thursday, May 2nd. The medical equipment provider reported $1.94 earnings per share for the quarter, beating the consensus estimate of $1.87 by $0.07. The business had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.87 billion. Zimmer Biomet had a return on equity of 12.70% and a net margin of 12.93%. The company’s revenue was up 3.2% compared to the same quarter last year. During the same period in the previous year, the company posted $1.89 EPS. Equities analysts predict that Zimmer Biomet will post 8.08 EPS for the current year.

Insider Activity

In related news, VP Chad F. Phipps sold 26,156 shares of the business’s stock in a transaction that occurred on 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 transaction, the vice president now owns 44,145 shares in the company, valued at approximately $5,677,929.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.95% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Larson Financial Group LLC boosted its position in Zimmer Biomet by 172.3% during the 1st quarter. Larson Financial Group LLC now owns 934 shares of the medical equipment provider’s stock valued at $123,000 after purchasing an additional 591 shares during the period. Easterly Investment Partners LLC boosted its position in Zimmer Biomet by 2.4% during the 1st quarter. Easterly Investment Partners LLC now owns 95,172 shares of the medical equipment provider’s stock worth $12,561,000 after acquiring an additional 2,196 shares during the period. BI Asset Management Fondsmaeglerselskab A S boosted its position in Zimmer Biomet by 25.0% during the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 8,357 shares of the medical equipment provider’s stock worth $1,103,000 after acquiring an additional 1,670 shares during the period. Boomfish Wealth Group LLC boosted its position in Zimmer Biomet by 1.3% during the 1st quarter. Boomfish Wealth Group LLC now owns 9,532 shares of the medical equipment provider’s stock worth $1,258,000 after acquiring an additional 119 shares during the period. Finally, Central Pacific Bank Trust Division acquired a new position in Zimmer Biomet during the 1st quarter worth $1,874,000. Institutional investors and hedge funds 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.