Zimmer Biomet (NYSE:ZBH) Price Target Lowered to $115.00 at Evercore ISI

Zimmer Biomet (NYSE:ZBH) had its target price dropped by analysts at Evercore ISI from $130.00 to $115.00 in a research note issued on Tuesday, Benzinga reports. The firm currently has an “in-line” rating on the medical equipment provider’s stock. Evercore ISI’s price objective indicates a potential upside of 7.91% from the company’s current price.

Several other equities research analysts have also issued reports on the stock. Citigroup lifted their target price on shares of Zimmer Biomet from $134.00 to $140.00 and gave the company a “neutral” rating in a research report on Wednesday, April 3rd. Piper Sandler cut Zimmer Biomet from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $140.00 to $115.00 in a research note on Monday. Truist Financial dropped their price target on Zimmer Biomet from $137.00 to $130.00 and set a “hold” rating for the company in a research note on Friday, May 3rd. Argus upgraded Zimmer Biomet from a “hold” rating to a “buy” rating and set a $150.00 price objective on the stock in a research report on Tuesday, May 21st. Finally, Barclays dropped their target price on Zimmer Biomet from $130.00 to $125.00 and set an “underweight” rating for the company in a research report on Friday, May 31st. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, Zimmer Biomet presently has a consensus rating of “Hold” and an average target price of $131.76.

Zimmer Biomet Stock Performance

NYSE ZBH opened at $106.57 on Tuesday. The company’s 50 day simple moving average is $114.69 and its two-hundred day simple moving average is $121.05. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.66 and a quick ratio of 0.80. Zimmer Biomet has a 1 year low of $102.00 and a 1 year high of $144.13. The stock has a market capitalization of $21.92 billion, a PE ratio of 23.07, a P/E/G ratio of 1.95 and a beta of 1.01.

Zimmer Biomet (NYSE:ZBH) last posted its earnings results on Thursday, May 2nd. The medical equipment provider reported $1.94 EPS for the quarter, topping the consensus estimate of $1.87 by $0.07. Zimmer Biomet had a return on equity of 12.70% and a net margin of 12.93%. The business had revenue of $1.89 billion during the quarter, compared to analysts’ expectations of $1.87 billion. During the same period in the previous year, the business earned $1.89 earnings per share. The firm’s revenue was up 3.2% on a year-over-year basis. Analysts predict that Zimmer Biomet will post 8.1 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Zimmer Biomet

Several hedge funds have recently made changes to their positions in the business. OLD Point Trust & Financial Services N A bought a new position in Zimmer Biomet in the fourth quarter worth $26,000. Ables Iannone Moore & Associates Inc. purchased a new stake in shares of Zimmer Biomet in the fourth quarter worth $30,000. Crewe Advisors LLC purchased a new position in shares of Zimmer Biomet in the 1st quarter worth about $31,000. Naples Money Management LLC bought a new position in Zimmer Biomet in the 4th quarter worth about $35,000. Finally, J.Safra Asset Management Corp grew its position in Zimmer Biomet by 712.1% during the 1st quarter. J.Safra Asset Management Corp now owns 268 shares of the medical equipment provider’s stock valued at $35,000 after purchasing an additional 235 shares during the last quarter. 88.89% of the stock is owned by hedge funds and other 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.