Zimmer Biomet (NYSE:ZBH) Rating Reiterated by Needham & Company LLC

Zimmer Biomet (NYSE:ZBH)‘s stock had its “hold” rating reiterated by investment analysts at Needham & Company LLC in a research note issued to investors on Tuesday, Benzinga reports.

A number of other equities analysts also recently issued reports on the company. Wolfe Research began coverage on Zimmer Biomet in a research note on Tuesday, September 10th. They issued a “peer perform” rating on the stock. Piper Sandler cut Zimmer Biomet from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $140.00 to $115.00 in a research report on Monday, July 1st. Robert W. Baird reduced their price target on shares of Zimmer Biomet from $155.00 to $145.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Evercore ISI restated an “in-line” rating and set a $113.00 target price on shares of Zimmer Biomet in a research report on Thursday, September 5th. Finally, The Goldman Sachs Group assumed coverage on shares of Zimmer Biomet in a research report on Thursday, May 30th. They issued a “neutral” rating and a $129.00 price target on the stock. 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 company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $125.17.

Zimmer Biomet Trading Up 0.1 %

Zimmer Biomet stock opened at $106.34 on Tuesday. Zimmer Biomet has a one year low of $102.00 and a one year high of $133.90. The business’s fifty day moving average is $109.92 and its 200 day moving average is $115.72. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.29 and a quick ratio of 0.63. The stock has a market capitalization of $21.66 billion, a PE ratio of 23.02, a price-to-earnings-growth ratio of 1.96 and a beta of 1.02.

Zimmer Biomet (NYSE:ZBH) last announced its quarterly earnings results on Wednesday, August 7th. The medical equipment provider reported $2.01 EPS for the quarter, topping analysts’ consensus estimates of $1.99 by $0.02. The firm had revenue of $1.94 billion during the quarter, compared to analyst estimates of $1.94 billion. Zimmer Biomet had a net margin of 13.25% and a return on equity of 12.86%. The business’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same period in the previous year, the business posted $1.82 earnings per share. On average, sell-side analysts predict that Zimmer Biomet will post 8.02 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Chicago Partners Investment Group LLC raised its position in shares of Zimmer Biomet by 3.3% during the fourth quarter. Chicago Partners Investment Group LLC now owns 2,894 shares of the medical equipment provider’s stock valued at $349,000 after buying an additional 92 shares during the last quarter. North Star Investment Management Corp. increased its holdings in Zimmer Biomet by 16.6% in the 1st quarter. North Star Investment Management Corp. now owns 669 shares of the medical equipment provider’s stock valued at $88,000 after acquiring an additional 95 shares during the last quarter. First Bancorp Inc ME lifted its stake in Zimmer Biomet by 5.3% in the 1st quarter. First Bancorp Inc ME now owns 1,970 shares of the medical equipment provider’s stock worth $260,000 after purchasing an additional 100 shares in the last quarter. Ballentine Partners LLC boosted its holdings in shares of Zimmer Biomet by 2.6% during the 1st quarter. Ballentine Partners LLC now owns 3,957 shares of the medical equipment provider’s stock valued at $522,000 after purchasing an additional 100 shares during the last quarter. Finally, Romano Brothers AND Company grew its position in shares of Zimmer Biomet by 1.1% during the first quarter. Romano Brothers AND Company now owns 9,514 shares of the medical equipment provider’s stock valued at $1,256,000 after purchasing an additional 100 shares in the last quarter. 88.89% of the stock is currently owned by institutional investors.

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.