Zimmer Biomet (NYSE:ZBH) Given “Hold” Rating at Needham & Company LLC

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

Other equities research analysts also recently issued reports about the company. Wells Fargo & Company lifted their price objective on Zimmer Biomet from $110.00 to $117.00 and gave the company an “equal weight” rating in a research note on Thursday, October 31st. JPMorgan Chase & Co. upgraded Zimmer Biomet from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $125.00 to $128.00 in a research report on Tuesday, December 17th. Oppenheimer lowered their price objective on Zimmer Biomet from $145.00 to $135.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 15th. Raymond James cut their target price on shares of Zimmer Biomet from $128.00 to $123.00 and set an “outperform” rating for the company in a report on Monday, October 14th. Finally, Barclays lowered their price target on shares of Zimmer Biomet from $125.00 to $118.00 and set an “underweight” rating on the stock in a report on Thursday, December 12th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $124.11.

Zimmer Biomet Stock Down 5.0 %

Shares of ZBH stock opened at $102.84 on Friday. 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 has a fifty-two week low of $100.67 and a fifty-two week high of $133.90. The firm has a market capitalization of $20.47 billion, a PE ratio of 19.55, a P/E/G ratio of 1.88 and a beta of 1.02. The stock’s 50-day simple moving average is $107.56 and its 200-day simple moving average is $108.16.

Zimmer Biomet (NYSE:ZBH) last posted its quarterly earnings results on Thursday, February 6th. The medical equipment provider reported $2.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.30 by $0.01. Zimmer Biomet had a net margin of 14.27% and a return on equity of 12.95%. During the same quarter last year, the firm posted $2.20 earnings per share. Equities analysts expect that Zimmer Biomet will post 7.99 earnings per share for the current year.

Hedge Funds Weigh In On Zimmer Biomet

Hedge funds and other institutional investors have recently modified their holdings of the business. Stonebridge Financial Group LLC purchased a new position in Zimmer Biomet in the 4th quarter worth approximately $25,000. Dunhill Financial LLC increased its holdings in shares of Zimmer Biomet by 1,090.0% in the third 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 during the last quarter. Ashton Thomas Securities LLC purchased a new position in Zimmer Biomet during the third quarter worth approximately $28,000. Brooklyn Investment Group acquired a new position in Zimmer Biomet during the third quarter worth $35,000. Finally, Kentucky Trust Co acquired a new stake in shares of Zimmer Biomet in the 4th quarter worth $39,000. 88.89% of the stock is 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.