Zimmer Biomet (NYSE:ZBH) Price Target Cut to $145.00

Zimmer Biomet (NYSE:ZBH) had its price target reduced by Robert W. Baird from $155.00 to $145.00 in a research report sent to investors on Thursday morning, Benzinga reports. Robert W. Baird currently has an outperform rating on the medical equipment provider’s stock.

A number of other research firms have also issued reports on ZBH. Piper Sandler lowered Zimmer Biomet from an overweight rating to a neutral rating and reduced their price objective for the company from $140.00 to $115.00 in a research report on Monday, July 1st. Barclays reduced their price objective on Zimmer Biomet from $130.00 to $125.00 and set an underweight rating for the company in a research report on Friday, May 31st. Needham & Company LLC restated a hold rating on shares of Zimmer Biomet in a research report on Thursday, May 30th. Truist Financial cut their target price on Zimmer Biomet from $130.00 to $117.00 and set a hold rating on the stock in a research note on Tuesday, July 16th. Finally, Evercore ISI cut their target price on Zimmer Biomet from $130.00 to $115.00 and set an in-line rating on the stock in a research note on Tuesday, July 2nd. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of Hold and an average price target of $127.67.

Zimmer Biomet Price Performance

Shares of ZBH opened at $108.08 on Thursday. The firm has a market cap of $22.24 billion, a price-to-earnings ratio of 23.39, a PEG ratio of 1.97 and a beta of 1.01. The stock has a 50 day moving average of $108.98 and a 200-day moving average of $118.58. The company has a current ratio of 1.66, a quick ratio of 0.80 and a debt-to-equity ratio of 0.38. Zimmer Biomet has a 52 week low of $102.00 and a 52 week high of $133.90.

Zimmer Biomet (NYSE:ZBH) last issued its earnings results on Wednesday, August 7th. The medical equipment provider reported $2.01 EPS for the quarter, topping the consensus estimate of $1.99 by $0.02. Zimmer Biomet had a return on equity of 12.70% and a net margin of 12.93%. The company had revenue of $1.94 billion during the quarter, compared to analyst estimates of $1.94 billion. During the same quarter last year, the firm earned $1.82 EPS. The business’s revenue was up 3.9% on a year-over-year basis. As a group, analysts forecast that Zimmer Biomet will post 8.1 EPS for the current year.

Institutional Trading of Zimmer Biomet

A number of hedge funds and other institutional investors have recently modified their holdings of the company. OLD Point Trust & Financial Services N A acquired a new position in shares of Zimmer Biomet in the 4th quarter worth $26,000. Ables Iannone Moore & Associates Inc. acquired a new position in shares of Zimmer Biomet in the 4th quarter worth $30,000. Crewe Advisors LLC acquired a new position in shares of Zimmer Biomet in the 1st quarter worth $31,000. Family Firm Inc. acquired a new position in shares of Zimmer Biomet in the 2nd quarter worth $33,000. Finally, Naples Money Management LLC acquired a new position in shares of Zimmer Biomet in the 4th quarter worth $35,000. Institutional investors 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.