Zimmer Biomet (NYSE:ZBH) Earns Hold Rating from Needham & Company LLC

Zimmer Biomet (NYSE:ZBH)‘s stock had its “hold” rating restated by stock analysts at Needham & Company LLC in a report released on Thursday, Benzinga reports.

A number of other brokerages have also recently commented on ZBH. BTIG Research decreased their price target on Zimmer Biomet from $134.00 to $126.00 and set a “buy” rating on the stock in a research report on Thursday, October 3rd. Raymond James decreased their target price on Zimmer Biomet from $128.00 to $123.00 and set an “outperform” rating on the stock in a research report on Monday, October 14th. JPMorgan Chase & Co. decreased their target price on Zimmer Biomet from $125.00 to $120.00 and set a “neutral” rating on the stock in a research report on Monday, September 16th. TD Cowen decreased their target price on 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, Citigroup decreased their target price on Zimmer Biomet from $134.00 to $120.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 10th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $123.84.

Zimmer Biomet Stock Up 0.3 %

Shares of NYSE ZBH opened at $107.27 on Thursday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.63 and a current ratio of 1.36. Zimmer Biomet has a 52 week low of $101.47 and a 52 week high of $133.90. The stock has a market capitalization of $21.85 billion, a P/E ratio of 20.39, a PEG ratio of 2.02 and a beta of 1.02. The stock’s fifty day moving average is $106.96 and its 200 day moving average is $110.89.

Zimmer Biomet (NYSE:ZBH) last issued its quarterly earnings results on Wednesday, October 30th. The medical equipment provider reported $1.74 EPS for the quarter, missing analysts’ consensus estimates of $1.75 by ($0.01). Zimmer Biomet had a return on equity of 12.95% and a net margin of 14.27%. The company had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.80 billion. During the same quarter in the previous year, the business posted $1.65 EPS. The firm’s revenue for the quarter was up 4.1% on a year-over-year basis. Sell-side analysts forecast that Zimmer Biomet will post 7.97 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Zimmer Biomet

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Atria Investments Inc lifted its stake in shares of Zimmer Biomet by 60.2% in the third quarter. Atria Investments Inc now owns 5,429 shares of the medical equipment provider’s stock worth $586,000 after acquiring an additional 2,041 shares during the period. Rovin Capital UT ADV increased its holdings in Zimmer Biomet by 19.1% in the third quarter. Rovin Capital UT ADV now owns 6,426 shares of the medical equipment provider’s stock worth $694,000 after purchasing an additional 1,029 shares in the last quarter. Philip James Wealth Mangement LLC bought a new stake in Zimmer Biomet in the third quarter worth approximately $305,000. Sittner & Nelson LLC increased its holdings in Zimmer Biomet by 62.4% in the third quarter. Sittner & Nelson LLC now owns 2,085 shares of the medical equipment provider’s stock worth $225,000 after purchasing an additional 801 shares in the last quarter. Finally, Olstein Capital Management L.P. increased its holdings in Zimmer Biomet by 3.4% in the third quarter. Olstein Capital Management L.P. now owns 80,000 shares of the medical equipment provider’s stock worth $8,636,000 after purchasing an additional 2,600 shares in the last quarter. 88.89% of the stock is 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.