Analysts Set Zimmer Biomet Holdings, Inc. (NYSE:ZBH) PT at $123.22

Shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) have been given a consensus rating of “Hold” by the twenty analysts that are presently covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and seven have issued a buy rating on the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $123.28.

Several analysts have weighed in on the stock. Wolfe Research initiated coverage on shares of Zimmer Biomet in a research report on Tuesday, September 10th. They set a “peer perform” rating on the stock. Truist Financial boosted their price target on Zimmer Biomet from $112.00 to $117.00 and gave the company a “hold” rating in a research note on Friday, November 1st. Canaccord Genuity Group decreased their target price on Zimmer Biomet from $120.00 to $115.00 and set a “hold” rating for the company in a report on Tuesday, September 10th. Wells Fargo & Company increased their price target on shares of Zimmer Biomet from $110.00 to $117.00 and gave the stock an “equal weight” rating in a report on Thursday, October 31st. Finally, JPMorgan Chase & Co. upgraded shares of Zimmer Biomet from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $125.00 to $128.00 in a research note on Tuesday.

Zimmer Biomet Stock Performance

Shares of ZBH stock opened at $108.08 on Wednesday. The company has a current ratio of 1.36, a quick ratio of 0.70 and a debt-to-equity ratio of 0.38. The company has a market cap of $21.52 billion, a PE ratio of 20.55, a PEG ratio of 1.96 and a beta of 1.02. Zimmer Biomet has a 12-month low of $101.47 and a 12-month high of $133.90. The business’s fifty day simple moving average is $107.90 and its 200-day simple moving average is $108.55.

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

Hedge Funds Weigh In On Zimmer Biomet

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. American Century Companies Inc. lifted its stake in Zimmer Biomet by 12.6% in the 2nd quarter. American Century Companies Inc. now owns 6,463,845 shares of the medical equipment provider’s stock valued at $701,521,000 after buying an additional 722,041 shares in the last quarter. Geode Capital Management LLC lifted 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 in the last quarter. Van ECK Associates Corp lifted its position in shares of Zimmer Biomet by 12.4% in the third quarter. Van ECK Associates Corp now owns 3,736,761 shares of the medical equipment provider’s stock valued at $391,239,000 after acquiring an additional 411,163 shares in the last quarter. Victory Capital Management Inc. increased its position in shares of Zimmer Biomet by 6.7% during the second quarter. Victory Capital Management Inc. now owns 3,364,624 shares of the medical equipment provider’s stock worth $365,163,000 after purchasing an additional 211,637 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC raised its stake in Zimmer Biomet by 0.4% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,569,311 shares of the medical equipment provider’s stock valued at $277,357,000 after purchasing an additional 9,990 shares during 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.