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

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

Several other equities research analysts also recently commented on ZBH. TD Cowen reduced their target price 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. Canaccord Genuity Group reduced their target price on shares of Zimmer Biomet from $120.00 to $115.00 and set a “hold” rating on the stock in a research note on Tuesday, September 10th. JPMorgan Chase & Co. reduced their target price on shares of Zimmer Biomet from $125.00 to $120.00 and set a “neutral” rating on the stock in a research note on Monday, September 16th. Raymond James reduced their target price on shares of Zimmer Biomet from $128.00 to $123.00 and set an “outperform” rating on the stock in a research note on Monday, October 14th. Finally, Morgan Stanley reduced their target price 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. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $123.84.

Zimmer Biomet Trading Up 0.3 %

Shares of ZBH stock opened at $107.27 on Thursday. Zimmer Biomet has a 1 year low of $101.47 and a 1 year high of $133.90. The firm’s fifty day simple moving average is $106.96 and its 200 day simple moving average is $110.89. The firm has a market capitalization of $21.85 billion, a P/E ratio of 20.39, a price-to-earnings-growth ratio of 2.02 and a beta of 1.02. The company has a current ratio of 1.36, a quick ratio of 0.63 and a debt-to-equity ratio of 0.38.

Zimmer Biomet (NYSE:ZBH) last announced its earnings results on Wednesday, October 30th. The medical equipment provider reported $1.74 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.75 by ($0.01). 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 for the quarter, compared to the consensus estimate of $1.80 billion. During the same period last year, the firm posted $1.65 EPS. The company’s revenue was up 4.1% compared to the same quarter last year. As a group, sell-side analysts predict that Zimmer Biomet will post 7.97 EPS for the current year.

Institutional Investors Weigh In On Zimmer Biomet

Several large investors have recently made changes to their positions in ZBH. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Zimmer Biomet by 22.5% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 15,346 shares of the medical equipment provider’s stock valued at $2,025,000 after buying an additional 2,820 shares during the last quarter. First Trust Direct Indexing L.P. boosted its holdings in shares of Zimmer Biomet by 2.5% in the 1st quarter. First Trust Direct Indexing L.P. now owns 7,523 shares of the medical equipment provider’s stock valued at $993,000 after buying an additional 184 shares during the last quarter. Maryland State Retirement & Pension System boosted its holdings in shares of Zimmer Biomet by 2.8% in the 1st quarter. Maryland State Retirement & Pension System now owns 16,479 shares of the medical equipment provider’s stock valued at $1,996,000 after buying an additional 445 shares during the last quarter. Ashton Thomas Private Wealth LLC boosted its holdings in shares of Zimmer Biomet by 3.8% in the 1st quarter. Ashton Thomas Private Wealth LLC now owns 5,514 shares of the medical equipment provider’s stock valued at $728,000 after buying an additional 200 shares during the last quarter. Finally, Private Advisor Group LLC lifted its holdings in Zimmer Biomet by 2.2% during the 1st quarter. Private Advisor Group LLC now owns 10,846 shares of the medical equipment provider’s stock valued at $1,431,000 after purchasing an additional 236 shares during the last quarter. Institutional investors and hedge funds 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.