Oppenheimer Lowers Zimmer Biomet (NYSE:ZBH) Price Target to $135.00

Zimmer Biomet (NYSE:ZBH) had its price target decreased by investment analysts at Oppenheimer from $145.00 to $135.00 in a report released on Tuesday, Benzinga reports. The firm currently has an “outperform” rating on the medical equipment provider’s stock. Oppenheimer’s target price would suggest a potential upside of 29.93% from the company’s previous close.

Other equities analysts also recently issued reports about the company. Needham & Company LLC restated a “hold” rating on shares of Zimmer Biomet in a research note on Tuesday, September 17th. Evercore ISI reduced their price objective on Zimmer Biomet from $113.00 to $110.00 and set an “in-line” rating for the company in a research report on Tuesday, October 1st. Morgan Stanley dropped their target price on Zimmer Biomet from $130.00 to $120.00 and set an “equal weight” rating on the stock in a research report on Monday, July 15th. Truist Financial reissued a “hold” rating and set a $112.00 price target (down previously from $117.00) on shares of Zimmer Biomet in a report on Friday, September 13th. Finally, Piper Sandler lowered shares of Zimmer Biomet from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $140.00 to $115.00 in a research report on Monday, July 1st. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $123.74.

Zimmer Biomet Price Performance

Shares of NYSE ZBH opened at $103.90 on Tuesday. The business has a 50 day simple moving average of $108.33 and a 200-day simple moving average of $112.88. Zimmer Biomet has a twelve month low of $101.47 and a twelve month high of $133.90. The company has a market capitalization of $21.38 billion, a price-to-earnings ratio of 22.49, a price-to-earnings-growth ratio of 1.89 and a beta of 1.02. The company has a current ratio of 1.29, a quick ratio of 0.63 and a debt-to-equity ratio of 0.31.

Zimmer Biomet (NYSE:ZBH) last issued its earnings results on Wednesday, August 7th. The medical equipment provider reported $2.01 earnings per share for the quarter, topping analysts’ consensus estimates of $1.99 by $0.02. Zimmer Biomet had a net margin of 13.25% and a return on equity of 12.86%. The company had revenue of $1.94 billion for the quarter, compared to analysts’ expectations of $1.94 billion. During the same period in the prior year, the company earned $1.82 earnings per share. The firm’s revenue was up 3.9% compared to the same quarter last year. As a group, equities research analysts expect that Zimmer Biomet will post 8 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Crewe Advisors LLC acquired a new stake in Zimmer Biomet in the 1st quarter valued at about $31,000. Bangor Savings Bank acquired a new stake in Zimmer Biomet during the third quarter valued at approximately $31,000. Family Firm Inc. bought a new stake in Zimmer Biomet during the second quarter worth approximately $33,000. J.Safra Asset Management Corp grew its position 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 buying an additional 235 shares during the last quarter. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new position in Zimmer Biomet in the second quarter worth approximately $43,000. 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.