Zimmer Biomet (NYSE:ZBH) PT Lowered to $110.00 at Evercore ISI

Zimmer Biomet (NYSE:ZBH) had its price target cut by analysts at Evercore ISI from $113.00 to $110.00 in a note issued to investors on Tuesday, Benzinga reports. The firm currently has an “in-line” rating on the medical equipment provider’s stock. Evercore ISI’s price objective would suggest a potential upside of 1.97% from the company’s current price.

Several other analysts have also recently commented on ZBH. Morgan Stanley decreased their price target on shares of Zimmer Biomet from $130.00 to $120.00 and set an “equal weight” rating on the stock in a research note on Monday, July 15th. UBS Group decreased their price target on shares of Zimmer Biomet from $112.00 to $107.00 and set a “sell” rating on the stock in a research note on Thursday, August 8th. Wolfe Research initiated coverage on shares of Zimmer Biomet in a research note on Tuesday, September 10th. They issued a “peer perform” rating on the stock. TD Cowen decreased their price target on shares of Zimmer Biomet from $143.00 to $119.00 and set a “hold” rating on the stock in a research note on Friday, September 6th. Finally, Royal Bank of Canada decreased their price target on shares of Zimmer Biomet from $140.00 to $130.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $125.00.

Zimmer Biomet Stock Performance

Shares of ZBH stock traded down $0.07 during mid-day trading on Tuesday, reaching $107.88. 550,385 shares of the company’s stock traded hands, compared to its average volume of 1,490,474. Zimmer Biomet has a 12 month low of $102.00 and a 12 month high of $133.90. The firm has a 50 day moving average price of $109.60 and a two-hundred day moving average price of $114.56. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.63 and a current ratio of 1.29. The firm has a market capitalization of $22.19 billion, a PE ratio of 23.27, a price-to-earnings-growth ratio of 1.98 and a beta of 1.02.

Zimmer Biomet (NYSE:ZBH) last issued its earnings results on Wednesday, August 7th. The medical equipment provider reported $2.01 earnings per share for the quarter, topping the consensus estimate of $1.99 by $0.02. The company had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.94 billion. Zimmer Biomet had a net margin of 13.25% and a return on equity of 12.86%. Zimmer Biomet’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.82 EPS. On average, research analysts forecast that Zimmer Biomet will post 8 EPS for the current year.

Institutional Investors Weigh In On Zimmer Biomet

Hedge funds and other institutional investors have recently bought and sold shares of the company. Speece Thorson Capital Group Inc. lifted its position in Zimmer Biomet by 13.8% during the fourth quarter. Speece Thorson Capital Group Inc. now owns 158,202 shares of the medical equipment provider’s stock valued at $19,253,000 after acquiring an additional 19,144 shares during the last quarter. M&G Plc purchased a new position in shares of Zimmer Biomet in the first quarter worth $7,397,000. AMF Tjanstepension AB purchased a new position in shares of Zimmer Biomet during the first quarter worth $30,300,000. Factory Mutual Insurance Co. purchased a new position in shares of Zimmer Biomet during the first quarter worth $10,862,000. Finally, Gradient Investments LLC raised its holdings in shares of Zimmer Biomet by 17.3% during the second quarter. Gradient Investments LLC now owns 130,350 shares of the medical equipment provider’s stock worth $14,147,000 after purchasing an additional 19,224 shares during the last quarter. Hedge funds and other institutional investors own 88.89% of the company’s stock.

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.