Zimmer Biomet (NYSE:ZBH) Price Target Lowered to $128.00 at Raymond James

Zimmer Biomet (NYSE:ZBH) had its price objective reduced by Raymond James from $138.00 to $128.00 in a report released on Thursday morning, Benzinga reports. They currently have an outperform rating on the medical equipment provider’s stock.

Several other analysts have also issued reports on ZBH. Citigroup lowered their price target on shares of Zimmer Biomet from $134.00 to $120.00 and set a neutral rating on the stock in a research report on Wednesday, July 10th. Argus raised Zimmer Biomet from a hold rating to a buy rating and set a $150.00 price target for the company in a report on Tuesday, May 21st. Piper Sandler cut Zimmer Biomet from an overweight rating to a neutral rating and dropped their price objective for the stock from $140.00 to $115.00 in a report on Monday, July 1st. Morgan Stanley decreased their price target on Zimmer Biomet from $130.00 to $120.00 and set an equal weight rating on the stock in a research report on Monday, July 15th. Finally, Evercore ISI cut their price objective on shares of Zimmer Biomet from $115.00 to $113.00 and set an in-line rating for the company in a research report on Thursday. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of Hold and an average price target of $127.67.

Zimmer Biomet Trading Down 0.6 %

Shares of ZBH stock opened at $108.08 on Thursday. Zimmer Biomet has a 12-month low of $102.00 and a 12-month high of $133.90. The company has a quick ratio of 0.63, a current ratio of 1.29 and a debt-to-equity ratio of 0.31. The company has a 50 day moving average of $108.98 and a 200-day moving average of $118.58. The firm has a market cap of $22.01 billion, a P/E ratio of 23.39, a PEG ratio of 1.88 and a beta of 1.01.

Zimmer Biomet (NYSE:ZBH) last released its earnings results on Wednesday, August 7th. The medical equipment provider reported $2.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.99 by $0.02. Zimmer Biomet had a return on equity of 12.86% and a net margin of 13.25%. The business had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.94 billion. During the same period last year, the business posted $1.82 earnings per share. The business’s revenue for the quarter was up 3.9% on a year-over-year basis. Sell-side analysts anticipate that Zimmer Biomet will post 8.08 earnings per share for the current year.

Institutional Investors Weigh In On Zimmer Biomet

A number of hedge funds have recently made changes to their positions in the business. Chicago Partners Investment Group LLC lifted its stake in Zimmer Biomet by 3.3% in the fourth quarter. Chicago Partners Investment Group LLC now owns 2,894 shares of the medical equipment provider’s stock worth $349,000 after purchasing an additional 92 shares during the last quarter. North Star Investment Management Corp. boosted its holdings in Zimmer Biomet by 16.6% during the 1st quarter. North Star Investment Management Corp. now owns 669 shares of the medical equipment provider’s stock valued at $88,000 after acquiring an additional 95 shares during the period. First Bancorp Inc ME boosted its holdings in shares of Zimmer Biomet by 5.3% during the first quarter. First Bancorp Inc ME now owns 1,970 shares of the medical equipment provider’s stock worth $260,000 after purchasing an additional 100 shares during the period. Ballentine Partners LLC increased its holdings in Zimmer Biomet by 2.6% during the 1st quarter. Ballentine Partners LLC now owns 3,957 shares of the medical equipment provider’s stock valued at $522,000 after purchasing an additional 100 shares during the period. Finally, Romano Brothers AND Company raised its position in Zimmer Biomet by 1.1% during the 1st quarter. Romano Brothers AND Company now owns 9,514 shares of the medical equipment provider’s stock valued at $1,256,000 after purchasing an additional 100 shares during the last quarter. 88.89% of the stock is currently owned by institutional investors.

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.