Jefferies Financial Group Increases Zimmer Biomet (NYSE:ZBH) Price Target to $167.00

Zimmer Biomet (NYSE:ZBH) had its price target upped by Jefferies Financial Group from $150.00 to $167.00 in a research report issued to clients and investors on Monday, The Fly reports. The brokerage currently has a “buy” rating on the medical equipment provider’s stock. Jefferies Financial Group’s price objective indicates a potential upside of 22.19% from the stock’s previous close. Jefferies Financial Group also issued estimates for Zimmer Biomet’s Q3 2019 earnings at $1.76 EPS, Q4 2019 earnings at $2.30 EPS and FY2020 earnings at $8.35 EPS. The analysts noted that the move was a valuation call.

Several other brokerages also recently issued reports on ZBH. Evercore ISI upgraded Zimmer Biomet from an “in-line” rating to an “outperform” rating and set a $145.00 price target for the company in a report on Monday, April 8th. ValuEngine upgraded Zimmer Biomet from a “hold” rating to a “buy” rating in a report on Saturday. Sanford C. Bernstein upgraded Zimmer Biomet from an “underperform” rating to a “market perform” rating and set a $121.71 price target for the company in a report on Tuesday, June 11th. TheStreet downgraded Zimmer Biomet from a “b-” rating to a “c” rating in a report on Friday, June 7th. Finally, Needham & Company LLC increased their price target on CoStar Group from $500.00 to $600.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. Zimmer Biomet presently has an average rating of “Buy” and an average price target of $139.09.

Shares of Zimmer Biomet stock opened at $136.67 on Monday. Zimmer Biomet has a 1 year low of $96.99 and a 1 year high of $136.72. The stock has a 50-day simple moving average of $121.15. The company has a market capitalization of $27.55 billion, a P/E ratio of 17.89, a P/E/G ratio of 2.51 and a beta of 1.14. The company has a quick ratio of 0.56, a current ratio of 1.19 and a debt-to-equity ratio of 0.58.

Zimmer Biomet (NYSE:ZBH) last announced its quarterly earnings results on Friday, July 26th. The medical equipment provider reported $1.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.91 by $0.02. Zimmer Biomet had a positive return on equity of 13.40% and a negative net margin of 4.56%. The company had revenue of $1.99 billion during the quarter, compared to the consensus estimate of $1.98 billion. During the same period in the prior year, the company earned $1.92 earnings per share. The company’s revenue for the quarter was down .9% compared to the same quarter last year. On average, equities research analysts expect that Zimmer Biomet will post 7.81 EPS for the current fiscal year.

In other Zimmer Biomet news, insider Sang Yi sold 426 shares of the firm’s stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $114.88, for a total value of $48,938.88. Following the completion of the transaction, the insider now directly owns 1,457 shares in the company, valued at $167,380.16. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.72% of the stock is currently owned by company insiders.

A number of hedge funds have recently bought and sold shares of ZBH. Lindbrook Capital LLC grew its stake in Zimmer Biomet by 207.6% in the first quarter. Lindbrook Capital LLC now owns 203 shares of the medical equipment provider’s stock valued at $25,000 after purchasing an additional 137 shares in the last quarter. Personal Wealth Partners bought a new position in Zimmer Biomet in the second quarter valued at approximately $26,000. Motco grew its stake in Zimmer Biomet by 86.2% in the first quarter. Motco now owns 216 shares of the medical equipment provider’s stock valued at $28,000 after purchasing an additional 100 shares in the last quarter. Private Ocean LLC lifted its position in shares of Zimmer Biomet by 34.8% in the second quarter. Private Ocean LLC now owns 310 shares of the medical equipment provider’s stock valued at $36,000 after buying an additional 80 shares during the last quarter. Finally, Pinnacle Bank acquired a new stake in shares of Zimmer Biomet in the fourth quarter valued at approximately $45,000. Hedge funds and other institutional investors own 88.60% of the company’s stock.

Zimmer Biomet Company Profile

Zimmer Biomet Holdings, Inc, together with its subsidiaries, designs, manufactures, and markets musculoskeletal healthcare products and solutions in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. It operates through four segments: Spine, less Asia Pacific; Office Based Technologies; Craniomaxillofacial and Thoracic; and Dental.

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