Stifel Nicolaus Forecasts Strong Price Appreciation for Zimmer Biomet (NYSE:ZBH) Stock

Zimmer Biomet (NYSE:ZBH) had its target price hoisted by Stifel Nicolaus from $130.00 to $138.00 in a research report issued on Thursday,Benzinga reports. The firm presently has a “buy” rating on the medical equipment provider’s stock. Stifel Nicolaus’ price objective would suggest a potential upside of 24.57% from the stock’s current price.

ZBH has been the subject of several other reports. Needham & Company LLC reiterated a “hold” rating on shares of Zimmer Biomet in a report on Thursday, October 31st. Oppenheimer dropped their price target on shares of Zimmer Biomet from $145.00 to $135.00 and set an “outperform” rating for the company in a research note on Tuesday, October 15th. BTIG Research cut their price target on shares of Zimmer Biomet from $134.00 to $126.00 and set a “buy” rating on the stock in a report on Thursday, October 3rd. Barclays decreased their price objective on Zimmer Biomet from $125.00 to $118.00 and set an “underweight” rating for the company in a report on Thursday, December 12th. Finally, Evercore ISI cut their target price on Zimmer Biomet from $113.00 to $110.00 and set an “in-line” rating on the stock in a report on Tuesday, October 1st. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, Zimmer Biomet currently has an average rating of “Hold” and an average price target of $124.11.

Zimmer Biomet Stock Down 0.2 %

Shares of ZBH opened at $110.78 on Thursday. The firm’s 50-day simple moving average is $107.89 and its 200 day simple moving average is $108.09. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.70 and a current ratio of 1.36. The firm has a market cap of $22.05 billion, a P/E ratio of 21.06, a price-to-earnings-growth ratio of 1.88 and a beta of 1.02. Zimmer Biomet has a 52 week low of $100.67 and a 52 week high of $133.90.

Zimmer Biomet (NYSE:ZBH) last released its earnings results on Wednesday, October 30th. The medical equipment provider reported $1.74 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.74. Zimmer Biomet had a return on equity of 12.95% and a net margin of 14.27%. The firm had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.80 billion. During the same period in the prior year, the company posted $1.65 EPS. The company’s revenue was up 4.1% compared to the same quarter last year. On average, analysts forecast that Zimmer Biomet will post 7.99 earnings per share for the current year.

Institutional Investors Weigh In On Zimmer Biomet

Several institutional investors have recently added to or reduced their stakes in ZBH. Geode Capital Management LLC boosted its position in shares of Zimmer Biomet by 2.6% in the third quarter. Geode Capital Management LLC now owns 4,879,385 shares of the medical equipment provider’s stock valued at $524,942,000 after acquiring an additional 125,852 shares during the period. M&T Bank Corp boosted its holdings in Zimmer Biomet by 48.4% in the 3rd quarter. M&T Bank Corp now owns 26,719 shares of the medical equipment provider’s stock valued at $2,884,000 after purchasing an additional 8,709 shares during the period. Peddock Capital Advisors LLC purchased a new position in shares of Zimmer Biomet during the 4th quarter valued at $654,000. National Pension Service increased its holdings in shares of Zimmer Biomet by 3.8% in the third quarter. National Pension Service now owns 369,547 shares of the medical equipment provider’s stock worth $39,893,000 after purchasing an additional 13,612 shares during the period. Finally, River Global Investors LLP raised its position in shares of Zimmer Biomet by 31.3% in the third quarter. River Global Investors LLP now owns 21,084 shares of the medical equipment provider’s stock worth $2,276,000 after buying an additional 5,030 shares in the last quarter. 88.89% of the stock is owned by hedge funds and other institutional investors.

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.