Zimmer Biomet (NYSE:ZBH) Stock Rating Reaffirmed by Truist Financial

Zimmer Biomet (NYSE:ZBH)‘s stock had its “hold” rating restated by Truist Financial in a research note issued on Thursday, Benzinga reports. They presently have a $117.00 target price on the medical equipment provider’s stock. Truist Financial’s price target would indicate a potential upside of 11.65% from the stock’s current price.

Several other equities analysts also recently weighed in on ZBH. Raymond James lowered their target price on Zimmer Biomet from $138.00 to $128.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Royal Bank of Canada cut their price objective on Zimmer Biomet from $140.00 to $130.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Canaccord Genuity Group decreased their target price on shares of Zimmer Biomet from $130.00 to $120.00 and set a “hold” rating on the stock in a research note on Tuesday, August 20th. Evercore ISI dropped their price target 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, August 8th. Finally, Piper Sandler downgraded shares of Zimmer Biomet from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $140.00 to $115.00 in a research report on Monday, July 1st. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $126.00.

Zimmer Biomet Stock Performance

Shares of ZBH stock opened at $104.79 on Thursday. Zimmer Biomet has a 52 week low of $102.00 and a 52 week 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 price of $110.04 and a 200-day moving average price of $116.93. 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 (NYSE:ZBH) last issued its quarterly earnings data on Wednesday, August 7th. The medical equipment provider reported $2.01 EPS for the quarter, topping the consensus estimate of $1.99 by $0.02. The company had revenue of $1.94 billion during the quarter, compared to analyst estimates of $1.94 billion. Zimmer Biomet had a return on equity of 12.86% and a net margin of 13.25%. Zimmer Biomet’s revenue was up 3.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.82 earnings per share. As a group, equities research analysts expect that Zimmer Biomet will post 8.06 earnings per share for the current year.

Hedge Funds Weigh In On Zimmer Biomet

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Norges Bank bought a new position in Zimmer Biomet during the 4th quarter valued at about $266,896,000. Price T Rowe Associates Inc. MD grew its stake in shares of Zimmer Biomet by 12.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 10,642,801 shares of the medical equipment provider’s stock valued at $1,404,638,000 after buying an additional 1,215,935 shares during the last quarter. American Century Companies Inc. raised its holdings in shares of Zimmer Biomet by 12.6% in the second quarter. American Century Companies Inc. now owns 6,463,845 shares of the medical equipment provider’s stock worth $701,521,000 after buying an additional 722,041 shares during the period. Boston Partners raised its holdings in shares of Zimmer Biomet by 26.3% in the first quarter. Boston Partners now owns 3,314,939 shares of the medical equipment provider’s stock worth $437,413,000 after buying an additional 691,191 shares during the period. Finally, Magnetar Financial LLC boosted its holdings in Zimmer Biomet by 58.7% during the 2nd quarter. Magnetar Financial LLC now owns 1,310,265 shares of the medical equipment provider’s stock valued at $142,203,000 after acquiring an additional 484,816 shares during the period. Hedge funds and other 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.