Zimmer Biomet (NYSE:ZBH) PT Lowered to $120.00

Zimmer Biomet (NYSE:ZBH) had its target price dropped by equities researchers at JPMorgan Chase & Co. from $125.00 to $120.00 in a note issued to investors on Monday, Benzinga reports. The brokerage currently has a “neutral” rating on the medical equipment provider’s stock. JPMorgan Chase & Co.‘s price target points to a potential upside of 12.95% from the stock’s current price.

Other research analysts have also issued research reports about the stock. Robert W. Baird lowered their price target on shares of Zimmer Biomet from $155.00 to $145.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. UBS Group lowered their target price on shares of Zimmer Biomet from $112.00 to $107.00 and set a “sell” rating for the company in a research note on Thursday, August 8th. Canaccord Genuity Group cut their price target on shares of Zimmer Biomet from $120.00 to $115.00 and set a “hold” rating on the stock in a research report on Tuesday, September 10th. Royal Bank of Canada decreased their price target on Zimmer Biomet from $140.00 to $130.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Finally, Piper Sandler downgraded Zimmer Biomet from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $140.00 to $115.00 in a research note on Monday, July 1st. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $125.17.

Zimmer Biomet Trading Down 1.1 %

Shares of NYSE ZBH opened at $106.24 on Monday. The firm has a 50 day moving average price of $109.93 and a two-hundred day moving average price of $115.79. The stock has a market cap of $21.86 billion, a P/E ratio of 23.00, a price-to-earnings-growth ratio of 1.92 and a beta of 1.02. Zimmer Biomet has a 52-week low of $102.00 and a 52-week high of $133.90. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.63 and a current ratio of 1.29.

Zimmer Biomet (NYSE:ZBH) last posted its quarterly earnings data on Wednesday, August 7th. The medical equipment provider reported $2.01 earnings per share for the quarter, beating analysts’ consensus estimates of $1.99 by $0.02. The business had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.94 billion. Zimmer Biomet had a return on equity of 12.86% and a net margin of 13.25%. Zimmer Biomet’s quarterly revenue was up 3.9% on a year-over-year basis. During the same period in the prior year, the business posted $1.82 earnings per share. As a group, equities analysts forecast that Zimmer Biomet will post 8.02 EPS for the current year.

Institutional Investors Weigh In On Zimmer Biomet

Several hedge funds and other institutional investors have recently made changes to their positions in ZBH. OLD Point Trust & Financial Services N A acquired a new position in Zimmer Biomet during the 4th quarter valued at about $26,000. Ables Iannone Moore & Associates Inc. purchased a new position in shares of Zimmer Biomet during the fourth quarter valued at approximately $30,000. Crewe Advisors LLC bought a new stake in Zimmer Biomet during the first quarter worth $31,000. Family Firm Inc. purchased a new stake in Zimmer Biomet in the 2nd quarter valued at $33,000. Finally, J.Safra Asset Management Corp lifted its stake in Zimmer Biomet by 712.1% during the 1st quarter. J.Safra Asset Management Corp now owns 268 shares of the medical equipment provider’s stock valued at $35,000 after acquiring an additional 235 shares in the last quarter. 88.89% of the stock is 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.