BTIG Research Lowers Zimmer Biomet (NYSE:ZBH) Price Target to $126.00

Zimmer Biomet (NYSE:ZBH) had its target price cut by investment analysts at BTIG Research from $134.00 to $126.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the medical equipment provider’s stock. BTIG Research’s price target indicates a potential upside of 20.56% from the stock’s current price.

Several other analysts have also weighed in on the stock. Robert W. Baird decreased their target price on shares of Zimmer Biomet from $155.00 to $145.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Royal Bank of Canada lowered their price objective on Zimmer Biomet from $140.00 to $130.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. Citigroup dropped their target price on Zimmer Biomet from $134.00 to $120.00 and set a “neutral” rating for the company in a report on Wednesday, July 10th. Piper Sandler lowered Zimmer Biomet from an “overweight” rating to a “neutral” rating and decreased their price target for the company from $140.00 to $115.00 in a research note on Monday, July 1st. Finally, Evercore ISI cut their price objective on Zimmer Biomet from $113.00 to $110.00 and set an “in-line” rating for the company in a report on Tuesday. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, Zimmer Biomet has an average rating of “Hold” and an average price target of $125.05.

Zimmer Biomet Stock Performance

Shares of NYSE ZBH traded down $1.18 during mid-day trading on Thursday, hitting $104.51. The company had a trading volume of 656,561 shares, compared to its average volume of 1,491,315. 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 firm has a market cap of $21.50 billion, a P/E ratio of 22.62, a PEG ratio of 1.98 and a beta of 1.02. The business’s 50-day simple moving average is $109.45 and its 200-day simple moving average is $114.38.

Zimmer Biomet (NYSE:ZBH) last announced its quarterly earnings data on Wednesday, August 7th. The medical equipment provider reported $2.01 earnings per share for the quarter, topping the consensus estimate of $1.99 by $0.02. The company had revenue of $1.94 billion for 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 for the quarter was up 3.9% compared to the same quarter last year. During the same quarter last year, the firm earned $1.82 EPS. As a group, analysts predict that Zimmer Biomet will post 8 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. OLD Point Trust & Financial Services N A bought a new stake in shares of Zimmer Biomet during the fourth quarter worth approximately $26,000. Crewe Advisors LLC acquired a new stake in Zimmer Biomet during the 1st quarter worth $31,000. Ables Iannone Moore & Associates Inc. bought a new stake in shares of Zimmer Biomet during the 4th quarter valued at $30,000. J.Safra Asset Management Corp lifted its stake in shares of Zimmer Biomet by 712.1% in 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 period. Finally, Family Firm Inc. bought a new position in shares of Zimmer Biomet in the 2nd quarter worth $33,000. 88.89% of the stock is currently owned by institutional investors and hedge funds.

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.