Barclays Cuts Zimmer Biomet (NYSE:ZBH) Price Target to $118.00

Zimmer Biomet (NYSE:ZBH) had its target price cut by equities research analysts at Barclays from $125.00 to $118.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has an “underweight” rating on the medical equipment provider’s stock. Barclays‘s price target indicates a potential upside of 10.55% from the stock’s previous close.

Other research analysts also recently issued reports about the stock. Truist Financial increased their target price on shares of Zimmer Biomet from $112.00 to $117.00 and gave the company a “hold” rating in a research report on Friday, November 1st. Wolfe Research started coverage on shares of Zimmer Biomet in a research report on Tuesday, September 10th. They issued a “peer perform” rating on the stock. Raymond James dropped their target price on shares of Zimmer Biomet from $128.00 to $123.00 and set an “outperform” rating on the stock in a research report on Monday, October 14th. TD Cowen dropped their target price on shares of Zimmer Biomet from $143.00 to $119.00 and set a “hold” rating on the stock in a research report on Friday, September 6th. Finally, Royal Bank of Canada increased their target price on shares of Zimmer Biomet from $120.00 to $125.00 and gave the company an “outperform” rating in a research report on Monday, November 4th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $122.83.

Zimmer Biomet Price Performance

Zimmer Biomet stock opened at $106.74 on Thursday. The firm has a market cap of $21.25 billion, a PE ratio of 20.31, a price-to-earnings-growth ratio of 1.96 and a beta of 1.02. Zimmer Biomet has a 52-week low of $101.47 and a 52-week high of $133.90. The company has a quick ratio of 0.70, a current ratio of 1.36 and a debt-to-equity ratio of 0.38. The company’s 50 day moving average is $107.65 and its two-hundred day moving average is $108.82.

Zimmer Biomet (NYSE:ZBH) last released its earnings results on Wednesday, October 30th. The medical equipment provider reported $1.74 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.74. Zimmer Biomet had a net margin of 14.27% and a return on equity of 12.95%. The company had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.80 billion. During the same period in the prior year, the business earned $1.65 EPS. The firm’s quarterly revenue was up 4.1% on a year-over-year basis. On average, research analysts expect that Zimmer Biomet will post 7.99 EPS for the current fiscal year.

Hedge Funds Weigh In On Zimmer Biomet

A number of institutional investors and hedge funds have recently bought and sold shares of ZBH. Dunhill Financial LLC lifted its holdings in Zimmer Biomet by 1,090.0% in the 3rd quarter. Dunhill Financial LLC now owns 238 shares of the medical equipment provider’s stock valued at $26,000 after acquiring an additional 218 shares during the last quarter. Ashton Thomas Securities LLC acquired a new stake in Zimmer Biomet in the 3rd quarter valued at about $28,000. Bangor Savings Bank acquired a new stake in Zimmer Biomet in the 3rd quarter valued at about $31,000. Family Firm Inc. acquired a new stake in Zimmer Biomet in the 2nd quarter valued at about $33,000. Finally, Brooklyn Investment Group acquired a new stake in Zimmer Biomet in the 3rd quarter valued at about $35,000. Institutional investors own 88.89% of the company’s stock.

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.