Zimmer Biomet (NYSE:ZBH) Stock Rating Reaffirmed by Evercore ISI

Zimmer Biomet (NYSE:ZBH)‘s stock had its “in-line” rating reissued by equities research analysts at Evercore ISI in a research report issued on Thursday, Benzinga reports. They presently have a $113.00 price target on the medical equipment provider’s stock. Evercore ISI’s price objective would suggest a potential upside of 7.83% from the stock’s previous close.

A number of other brokerages have also recently weighed in on ZBH. The Goldman Sachs Group began coverage on shares of Zimmer Biomet in a research report on Thursday, May 30th. They set a “neutral” rating and a $129.00 price target for the company. Oppenheimer decreased their target price on Zimmer Biomet from $155.00 to $145.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Morgan Stanley lowered their target price on Zimmer Biomet from $130.00 to $120.00 and set an “equal weight” rating for the company in a research note on Monday, July 15th. Truist Financial reissued a “hold” rating and set a $117.00 price target on shares of Zimmer Biomet in a research report on Thursday. Finally, Raymond James decreased their price target on Zimmer Biomet from $138.00 to $128.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $126.00.

Zimmer Biomet Stock Performance

Shares of NYSE:ZBH opened at $104.79 on Thursday. The firm has a market capitalization of $21.34 billion, a PE ratio of 22.68, a P/E/G ratio of 2.04 and a beta of 1.02. Zimmer Biomet has a 12 month low of $102.00 and a 12 month high of $133.90. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.29 and a quick ratio of 0.63. The business has a 50-day moving average of $110.04 and a two-hundred day moving average of $116.93.

Zimmer Biomet (NYSE:ZBH) last posted 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. The firm had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.94 billion. Zimmer Biomet had a net margin of 13.25% and a return on equity of 12.86%. The company’s revenue was up 3.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.82 EPS. As a group, research analysts forecast that Zimmer Biomet will post 8.06 earnings per share for the current year.

Hedge Funds Weigh In On Zimmer Biomet

Several large investors have recently added to or reduced their stakes in ZBH. TD Asset Management Inc lifted its position in shares of Zimmer Biomet by 10.1% in the 4th quarter. TD Asset Management Inc now owns 169,595 shares of the medical equipment provider’s stock worth $20,640,000 after buying an additional 15,552 shares during the last quarter. Bank of Nova Scotia boosted its stake in Zimmer Biomet by 499.0% in the fourth quarter. Bank of Nova Scotia now owns 134,729 shares of the medical equipment provider’s stock valued at $16,397,000 after acquiring an additional 112,237 shares during the period. Speece Thorson Capital Group Inc. grew its holdings in shares of Zimmer Biomet by 13.8% during the fourth quarter. Speece Thorson Capital Group Inc. now owns 158,202 shares of the medical equipment provider’s stock valued at $19,253,000 after purchasing an additional 19,144 shares during the last quarter. APG Asset Management US Inc. acquired a new stake in shares of Zimmer Biomet during the 4th quarter worth approximately $14,530,000. Finally, M&G Plc bought a new stake in shares of Zimmer Biomet in the 1st quarter worth approximately $7,397,000. 88.89% of the stock is currently owned by institutional investors.

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.