Zimmer Biomet’s (ZBH) Hold Rating Reiterated at Needham & Company LLC

Zimmer Biomet (NYSE:ZBH)‘s stock had its “hold” rating reaffirmed by equities researchers at Needham & Company LLC in a note issued to investors on Tuesday, Benzinga reports.

Other equities analysts also recently issued research reports about the company. UBS Group cut their target price on Zimmer Biomet from $112.00 to $107.00 and set a “sell” rating on the stock in a research report on Thursday, August 8th. Truist Financial reiterated a “hold” rating and set a $112.00 price objective (down previously from $117.00) on shares of Zimmer Biomet in a research report on Friday, September 13th. Morgan Stanley lowered their target price on shares of Zimmer Biomet from $130.00 to $120.00 and set an “equal weight” rating for the company in a report on Monday, July 15th. Oppenheimer cut their price target on shares of Zimmer Biomet from $155.00 to $145.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Finally, Raymond James decreased their price objective on shares of Zimmer Biomet from $138.00 to $128.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $125.17.

Zimmer Biomet Price Performance

Zimmer Biomet stock opened at $106.34 on Tuesday. Zimmer Biomet has a 52-week low of $102.00 and a 52-week high of $133.90. The company has a market cap of $21.66 billion, a price-to-earnings ratio of 23.02, a PEG ratio of 1.96 and a beta of 1.02. The firm’s fifty day moving average is $109.92 and its 200 day moving average is $115.72. The company has a quick ratio of 0.63, a current ratio of 1.29 and a debt-to-equity ratio of 0.31.

Zimmer Biomet (NYSE:ZBH) last announced its earnings results on Wednesday, August 7th. The medical equipment provider reported $2.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.99 by $0.02. Zimmer Biomet had a net margin of 13.25% and a return on equity of 12.86%. The firm had revenue of $1.94 billion for the quarter, compared to analysts’ expectations of $1.94 billion. During the same period in the prior year, the company earned $1.82 EPS. The business’s revenue was up 3.9% compared to the same quarter last year. Sell-side analysts forecast that Zimmer Biomet will post 8.02 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Sanctuary Advisors LLC acquired a new stake in Zimmer Biomet in the second quarter worth about $1,677,000. Brown Financial Advisors purchased a new position in shares of Zimmer Biomet in the 2nd quarter valued at approximately $890,000. EP Wealth Advisors LLC boosted its stake in Zimmer Biomet by 10.5% in the 2nd quarter. EP Wealth Advisors LLC now owns 2,358 shares of the medical equipment provider’s stock worth $256,000 after purchasing an additional 225 shares in the last quarter. Brandes Investment Partners LP grew its position in Zimmer Biomet by 38.8% during the 2nd quarter. Brandes Investment Partners LP now owns 4,499 shares of the medical equipment provider’s stock worth $488,000 after purchasing an additional 1,258 shares during the last quarter. Finally, Kimelman & Baird LLC acquired a new position in Zimmer Biomet during the 2nd quarter valued at approximately $65,000. 88.89% of the stock is currently owned by hedge funds and other 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.