Needham & Company LLC Reiterates Hold Rating for Zimmer Biomet (NYSE:ZBH)

Zimmer Biomet (NYSE:ZBH)‘s stock had its “hold” rating reissued by Needham & Company LLC in a research note issued on Wednesday,Benzinga reports.

A number of other research firms have also recently commented on ZBH. Raymond James cut their target price on Zimmer Biomet from $128.00 to $123.00 and set an “outperform” rating on the stock in a research note on Monday, October 14th. Truist Financial upped their price target on shares of Zimmer Biomet from $117.00 to $118.00 and gave the stock a “hold” rating in a research report on Wednesday, December 18th. JPMorgan Chase & Co. upgraded Zimmer Biomet from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $125.00 to $128.00 in a research note on Tuesday, December 17th. Barclays reduced their target price on Zimmer Biomet from $125.00 to $118.00 and set an “underweight” rating on the stock in a research report on Thursday, December 12th. Finally, Stifel Nicolaus raised their price target on shares of Zimmer Biomet from $130.00 to $138.00 and gave the stock a “buy” rating in a report on Thursday, January 23rd. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, Zimmer Biomet has a consensus rating of “Hold” and an average price target of $124.11.

Zimmer Biomet Stock Down 0.5 %

NYSE ZBH opened at $112.06 on Wednesday. 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 stock’s 50 day moving average is $107.87 and its 200 day moving average is $108.20. Zimmer Biomet has a 12 month low of $100.67 and a 12 month high of $133.90. The stock has a market cap of $22.31 billion, a PE ratio of 21.30, a P/E/G ratio of 1.88 and a beta of 1.02.

Zimmer Biomet (NYSE:ZBH) last released its quarterly 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. Zimmer Biomet had a return on equity of 12.95% and a net margin of 14.27%. The business had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $1.80 billion. During the same quarter last year, the business posted $1.65 EPS. The firm’s revenue for the quarter was up 4.1% compared to the same quarter last year. Research analysts predict that Zimmer Biomet will post 7.99 EPS for the current fiscal year.

Institutional Trading of Zimmer Biomet

Several large investors have recently added to or reduced their stakes in the stock. BLB&B Advisors LLC boosted its holdings in Zimmer Biomet by 2.1% in the 3rd quarter. BLB&B Advisors LLC now owns 4,900 shares of the medical equipment provider’s stock valued at $529,000 after purchasing an additional 100 shares during the last quarter. CKW Financial Group grew its stake in shares of Zimmer Biomet by 11.7% in the fourth quarter. CKW Financial Group now owns 955 shares of the medical equipment provider’s stock valued at $101,000 after buying an additional 100 shares in the last quarter. FWG Holdings LLC grew its position in Zimmer Biomet by 2.9% in the 3rd quarter. FWG Holdings LLC now owns 3,591 shares of the medical equipment provider’s stock valued at $372,000 after acquiring an additional 101 shares in the last quarter. Romano Brothers AND Company increased its stake in Zimmer Biomet by 1.1% during the 4th quarter. Romano Brothers AND Company now owns 9,466 shares of the medical equipment provider’s stock worth $1,000,000 after buying an additional 102 shares during the period. Finally, Financial Advocates Investment Management raised its stake in shares of Zimmer Biomet by 3.5% in the third quarter. Financial Advocates Investment Management now owns 3,053 shares of the medical equipment provider’s stock valued at $330,000 after acquiring an additional 103 shares in the last quarter. 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.