Oppenheimer Analysts Give Zimmer Biomet (ZBH) a $135.00 Price Target

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Zimmer Biomet (NYSE:ZBH) received a $135.00 price target from equities research analysts at Oppenheimer in a research report issued on Thursday. The firm presently has a “buy” rating on the medical equipment provider’s stock. Oppenheimer’s price target would suggest a potential upside of 22.82% from the company’s current price. Oppenheimer also issued estimates for Zimmer Biomet’s FY2020 earnings at $8.52 EPS.

Other analysts have also recently issued research reports about the stock. Needham & Company LLC cut shares of Zimmer Biomet from a “strong-buy” rating to a “buy” rating and set a $150.00 price objective on the stock. in a report on Monday, August 13th. Cantor Fitzgerald reaffirmed a “buy” rating and issued a $150.00 price objective on shares of Zimmer Biomet in a report on Monday, August 27th. Jefferies Financial Group dropped their price objective on shares of Zimmer Biomet from $145.00 to $140.00 and set a “buy” rating on the stock in a report on Monday, October 29th. UBS Group initiated coverage on shares of Zimmer Biomet in a report on Tuesday, November 27th. They issued a “buy” rating and a $140.00 price objective on the stock. Finally, Zacks Investment Research reaffirmed a “hold” rating on shares of Zimmer Biomet in a report on Saturday, November 17th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and thirteen have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $134.90.

ZBH stock opened at $109.92 on Thursday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.96 and a current ratio of 1.89. Zimmer Biomet has a fifty-two week low of $104.28 and a fifty-two week high of $134.55. The stock has a market capitalization of $22.84 billion, a P/E ratio of 13.69, a PEG ratio of 2.27 and a beta of 1.16.

Zimmer Biomet (NYSE:ZBH) last released its quarterly earnings data on Friday, October 26th. The medical equipment provider reported $1.63 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.60 by $0.03. Zimmer Biomet had a net margin of 22.42% and a return on equity of 12.88%. The business had revenue of $1.84 billion for the quarter, compared to analysts’ expectations of $1.84 billion. During the same quarter last year, the company earned $1.72 EPS. The company’s revenue for the quarter was up 1.3% compared to the same quarter last year. As a group, research analysts forecast that Zimmer Biomet will post 7.64 earnings per share for the current fiscal year.

In related news, VP Chad F. Phipps sold 30,100 shares of the stock in a transaction dated Friday, September 21st. The shares were sold at an average price of $132.37, for a total value of $3,984,337.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.71% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Raymond James Financial Services Advisors Inc. boosted its position in shares of Zimmer Biomet by 3.3% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 22,584 shares of the medical equipment provider’s stock valued at $2,517,000 after purchasing an additional 714 shares in the last quarter. TD Asset Management Inc. boosted its position in shares of Zimmer Biomet by 0.7% during the 2nd quarter. TD Asset Management Inc. now owns 61,859 shares of the medical equipment provider’s stock valued at $6,894,000 after purchasing an additional 425 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. boosted its position in shares of Zimmer Biomet by 5,200.0% during the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,007 shares of the medical equipment provider’s stock valued at $112,000 after purchasing an additional 988 shares in the last quarter. First Trust Advisors LP boosted its position in shares of Zimmer Biomet by 194.8% during the 2nd quarter. First Trust Advisors LP now owns 207,120 shares of the medical equipment provider’s stock valued at $23,081,000 after purchasing an additional 136,870 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its position in shares of Zimmer Biomet by 14.6% during the 2nd quarter. Victory Capital Management Inc. now owns 452,718 shares of the medical equipment provider’s stock valued at $50,451,000 after purchasing an additional 57,764 shares in the last quarter. Hedge funds and other institutional investors own 87.92% of the company’s stock.

About Zimmer Biomet

Zimmer Biomet Holdings, Inc, together with its subsidiaries, designs, manufactures, and markets musculoskeletal healthcare products and solutions in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. It operates through four segments: Spine, less Asia Pacific; Office Based Technologies; Craniomaxillofacial and Thoracic; and Dental.

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Analyst Recommendations for Zimmer Biomet (NYSE:ZBH)

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