Needham & Company LLC Reiterates “Hold” Rating for Zimmer Biomet (NYSE:ZBH)

Zimmer Biomet (NYSE:ZBHGet Free Report)‘s stock had its “hold” rating reaffirmed by stock analysts at Needham & Company LLC in a research note issued to investors on Wednesday,Benzinga reports.

Other equities research analysts also recently issued reports about the company. JPMorgan Chase & Co. raised Zimmer Biomet from a “neutral” rating to an “overweight” rating and raised their price target for the company from $125.00 to $128.00 in a research report on Tuesday, December 17th. Wells Fargo & Company raised their price objective on Zimmer Biomet from $110.00 to $117.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 31st. Truist Financial upped their target price on Zimmer Biomet from $117.00 to $118.00 and gave the company a “hold” rating in a research note on Wednesday, December 18th. Barclays lowered their price target on shares of Zimmer Biomet from $125.00 to $118.00 and set an “underweight” rating on the stock in a report on Thursday, December 12th. Finally, BTIG Research reduced their price objective on shares of Zimmer Biomet from $134.00 to $126.00 and set a “buy” rating for the company in a report on Thursday, October 3rd. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $124.11.

View Our Latest Research Report on Zimmer Biomet

Zimmer Biomet Stock Down 0.4 %

Shares of Zimmer Biomet stock opened at $110.63 on Wednesday. Zimmer Biomet has a 12-month low of $100.67 and a 12-month 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 stock has a 50 day moving average price of $107.91 and a two-hundred day moving average price of $108.22. The stock has a market capitalization of $22.02 billion, a P/E ratio of 21.03, a PEG ratio of 1.88 and a beta of 1.02.

Zimmer Biomet (NYSE:ZBHGet Free Report) last posted its earnings results on Wednesday, October 30th. The medical equipment provider reported $1.74 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.74. The business had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.80 billion. Zimmer Biomet had a net margin of 14.27% and a return on equity of 12.95%. Zimmer Biomet’s revenue was up 4.1% compared to the same quarter last year. During the same period last year, the business posted $1.65 EPS. Equities analysts expect that Zimmer Biomet will post 7.99 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Stonebridge Financial Group LLC acquired a new position in Zimmer Biomet in the fourth quarter valued at approximately $25,000. Dunhill Financial LLC grew its stake in shares of Zimmer Biomet by 1,090.0% during the third quarter. Dunhill Financial LLC now owns 238 shares of the medical equipment provider’s stock worth $26,000 after purchasing an additional 218 shares during the period. Ashton Thomas Securities LLC acquired a new position in Zimmer Biomet in the third quarter valued at about $28,000. Bangor Savings Bank bought a new position in Zimmer Biomet during the third quarter worth about $31,000. Finally, Brooklyn Investment Group acquired a new position in shares of Zimmer Biomet during the 3rd quarter worth about $35,000. Institutional investors own 88.89% of the company’s stock.

About Zimmer Biomet

(Get Free Report)

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.

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