Zimmer Biomet (NYSE:ZBH) Earns Hold Rating from Needham & Company LLC

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

A number of other brokerages have also issued reports on ZBH. Evercore ISI decreased their target price on shares of Zimmer Biomet from $113.00 to $110.00 and set an “in-line” rating for the company in a research report on Tuesday, October 1st. BTIG Research lowered their price objective on shares of Zimmer Biomet from $134.00 to $126.00 and set a “buy” rating on the stock in a research note on Thursday, October 3rd. Oppenheimer cut their target price on Zimmer Biomet from $145.00 to $135.00 and set an “outperform” rating for the company in a research report on Tuesday, October 15th. Wells Fargo & Company lifted their price target on Zimmer Biomet from $110.00 to $117.00 and gave the company an “equal weight” rating in a research report on Thursday, October 31st. Finally, Truist Financial upped their price objective on Zimmer Biomet from $117.00 to $118.00 and gave the company a “hold” rating in a report on Wednesday, December 18th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $124.11.

Zimmer Biomet Stock Performance

ZBH opened at $110.63 on Wednesday. Zimmer Biomet has a twelve month low of $100.67 and a twelve month high of $133.90. The stock has a market cap of $22.02 billion, a PE ratio of 21.03, a price-to-earnings-growth ratio of 1.88 and a beta of 1.02. The business’s 50 day moving average is $107.91 and its 200-day moving average is $108.22. 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 (NYSE:ZBH) last announced its quarterly earnings results on Wednesday, October 30th. The medical equipment provider reported $1.74 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.74. Zimmer Biomet had a return on equity of 12.95% and a net margin of 14.27%. The company had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.80 billion. During the same quarter in the previous year, the firm posted $1.65 EPS. The firm’s quarterly revenue was up 4.1% on a year-over-year basis. On average, analysts predict that Zimmer Biomet will post 7.99 earnings per share for the current year.

Institutional Trading of Zimmer Biomet

Several institutional investors have recently made changes to their positions in ZBH. Stonebridge Financial Group LLC acquired a new position in Zimmer Biomet in the 4th quarter worth about $25,000. Dunhill Financial LLC increased its holdings in Zimmer Biomet by 1,090.0% in the third quarter. Dunhill Financial LLC now owns 238 shares of the medical equipment provider’s stock worth $26,000 after buying an additional 218 shares during the last quarter. Ashton Thomas Securities LLC bought a new position in Zimmer Biomet during the third quarter valued at approximately $28,000. Bangor Savings Bank acquired a new stake in Zimmer Biomet in the third quarter valued at approximately $31,000. Finally, Brooklyn Investment Group bought a new stake in Zimmer Biomet in the third quarter worth approximately $35,000. 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.