Zimmer Biomet (NYSE:ZBH) Price Target Cut to $118.00 by Analysts at Barclays

Zimmer Biomet (NYSE:ZBH) had its price target reduced by Barclays from $125.00 to $118.00 in a report released on Thursday,Benzinga reports. Barclays currently has an underweight rating on the medical equipment provider’s stock.

ZBH has been the topic of several other research reports. TD Cowen dropped 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. Needham & Company LLC reiterated a “hold” rating on shares of Zimmer Biomet in a research note on Thursday, October 31st. Canaccord Genuity Group decreased their price target on shares of Zimmer Biomet from $120.00 to $115.00 and set a “hold” rating for the company in a research report on Tuesday, September 10th. Truist Financial lifted their price objective on shares of Zimmer Biomet from $112.00 to $117.00 and gave the stock a “hold” rating in a research report on Friday, November 1st. Finally, Oppenheimer decreased their target price on shares of Zimmer Biomet from $145.00 to $135.00 and set an “outperform” rating for the company in a research report on Tuesday, October 15th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, Zimmer Biomet has a consensus rating of “Hold” and an average target price of $122.83.

Zimmer Biomet Stock Down 0.5 %

Shares of NYSE ZBH opened at $106.29 on Thursday. Zimmer Biomet has a 52-week low of $101.47 and a 52-week high of $133.90. The firm has a market capitalization of $21.16 billion, a price-to-earnings ratio of 20.31, a PEG ratio of 1.96 and a beta of 1.02. The stock has a 50 day moving average price of $107.65 and a 200 day moving average price of $108.82. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.70 and a current ratio of 1.36.

Zimmer Biomet (NYSE:ZBH) last issued its earnings results on Wednesday, October 30th. The medical equipment provider reported $1.74 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.74. Zimmer Biomet had a net margin of 14.27% and a return on equity of 12.95%. The company had revenue of $1.82 billion for the quarter, compared to analysts’ expectations of $1.80 billion. During the same period in the prior year, the business earned $1.65 EPS. The firm’s quarterly revenue was up 4.1% on a year-over-year basis. Sell-side analysts expect that Zimmer Biomet will post 7.99 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Dunhill Financial LLC lifted its stake in Zimmer Biomet by 1,090.0% during the 3rd quarter. Dunhill Financial LLC now owns 238 shares of the medical equipment provider’s stock valued at $26,000 after acquiring an additional 218 shares during the period. Ashton Thomas Securities LLC purchased a new position in shares of Zimmer Biomet during the 3rd quarter valued at about $28,000. Bangor Savings Bank acquired a new position in shares of Zimmer Biomet in the 3rd quarter valued at about $31,000. Family Firm Inc. purchased a new stake in shares of Zimmer Biomet in the second quarter worth about $33,000. Finally, Brooklyn Investment Group purchased a new stake in shares of Zimmer Biomet in the third quarter worth about $35,000. 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.