By otakuyassine3@gmail.com 
Zimmer Biomet (NYSE:ZBH – Get Free Report) had its target price lifted by analysts at Truist Financial from $117.00 to $118.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has a “hold” rating on the medical equipment provider’s stock. Truist Financial’s price target indicates a potential upside of 9.17% from the stock’s previous close.
ZBH has been the subject of several other research reports. Oppenheimer lowered their price objective on shares of Zimmer Biomet from $145.00 to $135.00 and set an “outperform” rating for the company in a research note on Tuesday, October 15th. Wolfe Research began coverage on shares of Zimmer Biomet in a research report on Tuesday, September 10th. They issued a “peer perform” rating for the company. Raymond James cut their price objective 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. Evercore ISI decreased their price objective on Zimmer Biomet from $113.00 to $110.00 and set an “in-line” rating for the company in a research note on Tuesday, October 1st. Finally, Royal Bank of Canada boosted their price objective on Zimmer Biomet from $120.00 to $125.00 and gave the stock an “outperform” rating in a research report on Monday, November 4th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $123.33.
Zimmer Biomet Price Performance
ZBH stock traded up $0.03 during mid-day trading on Wednesday, reaching $108.09. The company’s stock had a trading volume of 172,136 shares, compared to its average volume of 1,482,494. The company has a current ratio of 1.36, a quick ratio of 0.70 and a debt-to-equity ratio of 0.38. The company’s 50 day moving average is $107.90 and its two-hundred day moving average is $108.55. The stock has a market cap of $21.52 billion, a PE ratio of 20.55, a P/E/G ratio of 1.96 and a beta of 1.02. Zimmer Biomet has a fifty-two week low of $101.47 and a fifty-two week high of $133.90.
Zimmer Biomet (NYSE:ZBH – Get Free Report) last posted its earnings results on Wednesday, October 30th. The medical equipment provider reported $1.74 earnings per share for the quarter, meeting the consensus estimate of $1.74. The company 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% on a year-over-year basis. During the same period in the previous year, the business posted $1.65 EPS. Equities research analysts expect that Zimmer Biomet will post 7.99 EPS for the current year.
Hedge Funds Weigh In On Zimmer Biomet
A number of institutional investors and hedge funds have recently made changes to their positions in ZBH. Dunhill Financial LLC increased 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 purchasing an additional 218 shares in the last quarter. Ashton Thomas Securities LLC acquired a new position in Zimmer Biomet in the 3rd quarter worth $28,000. Bangor Savings Bank acquired a new stake in shares of Zimmer Biomet during the third quarter valued at about $31,000. Family Firm Inc. purchased a new stake in shares of Zimmer Biomet during the second quarter worth about $33,000. Finally, Brooklyn Investment Group purchased a new position in shares of Zimmer Biomet during the 3rd quarter valued at approximately $35,000. 88.89% of the stock is owned by institutional investors and hedge funds.
About Zimmer Biomet
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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