Zimmer Biomet (NYSE:ZBH) Stock Price Expected to Rise, Royal Bank of Canada Analyst Says

Zimmer Biomet (NYSE:ZBH) had its price objective raised by equities researchers at Royal Bank of Canada from $120.00 to $125.00 in a research note issued to investors on Monday, Benzinga reports. The brokerage presently has an “outperform” rating on the medical equipment provider’s stock. Royal Bank of Canada’s target price points to a potential upside of 14.76% from the company’s previous close.

A number of other equities research analysts have also recently weighed in on the stock. Needham & Company LLC restated a “hold” rating on shares of Zimmer Biomet in a research note on Thursday, October 31st. Truist Financial boosted their price target on shares of Zimmer Biomet from $112.00 to $117.00 and gave the stock a “hold” rating in a research report on Friday, November 1st. Canaccord Genuity Group lowered their price objective 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. Wolfe Research began coverage on shares of Zimmer Biomet in a report on Tuesday, September 10th. They set a “peer perform” rating for the company. Finally, Raymond James decreased their target price on Zimmer Biomet from $128.00 to $123.00 and set an “outperform” rating on the stock in a report on Monday, October 14th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $124.11.

Zimmer Biomet Trading Up 0.5 %

Shares of ZBH opened at $108.92 on Monday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.70 and a current ratio of 1.36. Zimmer Biomet has a one year low of $101.47 and a one year high of $133.90. The stock has a 50-day moving average price of $106.72 and a 200 day moving average price of $110.58. The company has a market capitalization of $21.68 billion, a P/E ratio of 20.71, a P/E/G ratio of 1.97 and a beta of 1.02.

Zimmer Biomet (NYSE:ZBH) last issued its quarterly earnings results on Wednesday, October 30th. The medical equipment provider reported $1.74 EPS for the quarter, hitting the consensus estimate of $1.74. The business had revenue of $1.82 billion for the quarter, compared to analysts’ expectations of $1.80 billion. Zimmer Biomet had a net margin of 14.27% and a return on equity of 12.95%. The company’s quarterly revenue was up 4.1% compared to the same quarter last year. During the same quarter last year, the company posted $1.65 earnings per share. Sell-side analysts forecast that Zimmer Biomet will post 7.99 EPS for the current fiscal year.

Institutional Trading of Zimmer Biomet

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Ashton Thomas Securities LLC bought a new stake in shares of Zimmer Biomet during the third quarter worth approximately $28,000. Crewe Advisors LLC acquired a new stake in shares of Zimmer Biomet during the first quarter worth $31,000. Bangor Savings Bank bought a new stake in Zimmer Biomet in the third quarter valued at about $31,000. Family Firm Inc. acquired a new position in shares of Zimmer Biomet during the 2nd quarter worth about $33,000. Finally, J.Safra Asset Management Corp raised its holdings in Zimmer Biomet by 712.1% in the first quarter. J.Safra Asset Management Corp now owns 268 shares of the medical equipment provider’s stock worth $35,000 after purchasing an additional 235 shares during the period. Institutional investors and hedge funds own 88.89% of the company’s stock.

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.