Barclays Lowers Zimmer Biomet (NYSE:ZBH) Price Target to $118.00

Zimmer Biomet (NYSE:ZBH) had its price target decreased by equities research analysts at Barclays from $125.00 to $118.00 in a report released on Thursday,Benzinga reports. The brokerage currently has an “underweight” rating on the medical equipment provider’s stock. Barclays‘s price objective suggests a potential upside of 10.55% from the company’s previous close.

ZBH has been the topic of several other reports. Truist Financial lifted their price objective on Zimmer Biomet from $112.00 to $117.00 and gave the company a “hold” rating in a research report on Friday, November 1st. Wolfe Research assumed coverage on Zimmer Biomet in a research report on Tuesday, September 10th. They set a “peer perform” rating on the stock. BTIG Research lowered their target price on shares of Zimmer Biomet from $134.00 to $126.00 and set a “buy” rating for the company in a report on Thursday, October 3rd. TD Cowen lowered their target price on shares of Zimmer Biomet from $143.00 to $119.00 and set a “hold” rating for the company in a report on Friday, September 6th. Finally, Oppenheimer lowered their target price on shares of Zimmer Biomet from $145.00 to $135.00 and set an “outperform” rating for the company in a report on Tuesday, October 15th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $122.83.

Zimmer Biomet Stock Down 0.1 %

ZBH opened at $106.74 on Thursday. The company has a market cap of $21.25 billion, a P/E ratio of 20.31, a P/E/G ratio of 1.96 and a beta of 1.02. The business’s 50-day moving average price is $107.65 and its 200-day moving average price is $108.82. The company has a current ratio of 1.36, a quick ratio of 0.70 and a debt-to-equity ratio of 0.38. Zimmer Biomet has a 12 month low of $101.47 and a 12 month high of $133.90.

Zimmer Biomet (NYSE:ZBH) last posted 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. The company had revenue of $1.82 billion for the quarter, compared to analysts’ expectations of $1.80 billion. Zimmer Biomet had a return on equity of 12.95% and a net margin of 14.27%. Zimmer Biomet’s quarterly revenue was up 4.1% on a year-over-year basis. During the same period last year, the firm earned $1.65 earnings per share. On average, equities analysts expect that Zimmer Biomet will post 7.99 EPS for the current year.

Hedge Funds Weigh In On Zimmer Biomet

A number of institutional investors and hedge funds have recently bought and sold shares of ZBH. American Century Companies Inc. boosted its holdings in Zimmer Biomet by 12.6% in the 2nd quarter. American Century Companies Inc. now owns 6,463,845 shares of the medical equipment provider’s stock valued at $701,521,000 after purchasing an additional 722,041 shares during the last quarter. Equity Investment Corp acquired a new position in Zimmer Biomet in the 3rd quarter valued at about $70,104,000. Hotchkis & Wiley Capital Management LLC boosted its holdings in Zimmer Biomet by 49.1% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 1,752,298 shares of the medical equipment provider’s stock valued at $189,161,000 after purchasing an additional 577,320 shares during the last quarter. Magnetar Financial LLC boosted its holdings in Zimmer Biomet by 58.7% in the 2nd quarter. Magnetar Financial LLC now owns 1,310,265 shares of the medical equipment provider’s stock valued at $142,203,000 after purchasing an additional 484,816 shares during the last quarter. Finally, Van ECK Associates Corp boosted its holdings in Zimmer Biomet by 12.4% in the 3rd quarter. Van ECK Associates Corp now owns 3,736,761 shares of the medical equipment provider’s stock valued at $391,239,000 after purchasing an additional 411,163 shares during the last quarter. 88.89% of the stock is currently owned by institutional investors and hedge funds.

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.