Canaccord Genuity Group Issues Pessimistic Forecast for Zimmer Biomet (NYSE:ZBH) Stock Price

Zimmer Biomet (NYSE:ZBH) had its price objective dropped by equities researchers at Canaccord Genuity Group from $115.00 to $101.00 in a report released on Monday,Benzinga reports. The firm currently has a “hold” rating on the medical equipment provider’s stock. Canaccord Genuity Group’s price objective suggests a potential upside of 3.78% from the stock’s previous close.

Other research analysts have also recently issued reports about the company. Royal Bank of Canada lowered their price target on Zimmer Biomet from $125.00 to $112.00 and set an “outperform” rating on the stock in a report on Tuesday, May 6th. Needham & Company LLC reaffirmed a “hold” rating on shares of Zimmer Biomet in a research note on Friday, February 7th. Morgan Stanley reduced their price objective on Zimmer Biomet from $115.00 to $95.00 and set an “equal weight” rating on the stock in a research note on Tuesday, May 6th. Raymond James reduced their price objective on Zimmer Biomet from $119.00 to $104.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 6th. Finally, Barclays reduced their price objective on Zimmer Biomet from $118.00 to $112.00 and set an “underweight” rating on the stock in a research note on Monday, February 10th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $113.45.

Zimmer Biomet Stock Down 0.9%

ZBH stock opened at $97.32 on Monday. The business’s 50-day moving average price is $104.14 and its 200-day moving average price is $106.04. The company has a quick ratio of 0.99, a current ratio of 1.91 and a debt-to-equity ratio of 0.43. Zimmer Biomet has a twelve month low of $89.92 and a twelve month high of $122.17. The stock has a market cap of $19.25 billion, a P/E ratio of 21.87, a PEG ratio of 1.95 and a beta of 0.78.

Zimmer Biomet (NYSE:ZBH) last posted its quarterly earnings results on Monday, May 5th. The medical equipment provider reported $1.81 EPS for the quarter, topping analysts’ consensus estimates of $1.77 by $0.04. Zimmer Biomet had a return on equity of 12.99% and a net margin of 11.77%. The company had revenue of $1.91 billion for the quarter, compared to analysts’ expectations of $1.89 billion. During the same period in the previous year, the firm earned $1.94 EPS. The firm’s revenue was up 1.1% compared to the same quarter last year. On average, equities research analysts forecast that Zimmer Biomet will post 8.22 EPS for the current year.

Insider Buying and Selling at Zimmer Biomet

In other Zimmer Biomet news, SVP Lori Winkler sold 1,443 shares of the company’s stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $104.40, for a total value of $150,649.20. Following the transaction, the senior vice president now owns 8,768 shares of the company’s stock, valued at $915,379.20. This represents a 14.13% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.39% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Zimmer Biomet

Several hedge funds have recently bought and sold shares of the business. CKW Financial Group grew its position in Zimmer Biomet by 11.7% in the 4th quarter. CKW Financial Group now owns 955 shares of the medical equipment provider’s stock valued at $101,000 after acquiring an additional 100 shares during the last quarter. Romano Brothers AND Company grew its position in Zimmer Biomet by 1.1% in the 4th quarter. Romano Brothers AND Company now owns 9,466 shares of the medical equipment provider’s stock valued at $1,000,000 after acquiring an additional 102 shares during the last quarter. Dorsey & Whitney Trust CO LLC grew its position in Zimmer Biomet by 2.3% in the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 4,594 shares of the medical equipment provider’s stock valued at $485,000 after acquiring an additional 102 shares during the last quarter. M&T Bank Corp lifted its holdings in shares of Zimmer Biomet by 0.4% in the 4th quarter. M&T Bank Corp now owns 26,827 shares of the medical equipment provider’s stock worth $2,834,000 after buying an additional 108 shares during the period. Finally, MGO One Seven LLC lifted its holdings in shares of Zimmer Biomet by 5.1% in the 4th quarter. MGO One Seven LLC now owns 2,254 shares of the medical equipment provider’s stock worth $238,000 after buying an additional 110 shares during the period. Institutional investors own 88.89% of the company’s stock.

About Zimmer Biomet

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.