Zimmer Biomet (NYSE:ZBH) Given New $101.00 Price Target at Royal Bank Of Canada

Zimmer Biomet (NYSE:ZBH) had its price target cut by equities research analysts at Royal Bank Of Canada from $111.00 to $101.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has an “outperform” rating on the medical equipment provider’s stock. Royal Bank Of Canada’s price target would suggest a potential upside of 15.37% from the stock’s previous close.

Several other analysts have also weighed in on ZBH. Redburn Partners set a $130.00 target price on Zimmer Biomet in a report on Thursday, September 18th. Evercore ISI lowered their target price on Zimmer Biomet from $106.00 to $104.00 and set an “in-line” rating on the stock in a report on Tuesday, October 7th. Barclays lowered their target price on Zimmer Biomet from $112.00 to $105.00 and set an “underweight” rating on the stock in a report on Wednesday. Canaccord Genuity Group reaffirmed a “hold” rating and set a $101.00 price objective on shares of Zimmer Biomet in a research note on Wednesday, October 22nd. Finally, Rothschild Redb raised Zimmer Biomet to a “strong-buy” rating in a research note on Thursday, September 18th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $109.84.

Zimmer Biomet Price Performance

ZBH stock traded down $0.00 on Thursday, reaching $87.55. 1,284,876 shares of the company’s stock were exchanged, compared to its average volume of 1,917,769. The stock has a fifty day moving average of $100.84 and a 200-day moving average of $97.60. Zimmer Biomet has a twelve month low of $85.33 and a twelve month high of $114.72. The firm has a market cap of $17.34 billion, a PE ratio of 21.27, a P/E/G ratio of 2.29 and a beta of 0.67. The company has a quick ratio of 0.96, a current ratio of 1.87 and a debt-to-equity ratio of 0.54.

Zimmer Biomet (NYSE:ZBH) last announced its quarterly earnings data on Wednesday, November 5th. The medical equipment provider reported $1.90 earnings per share for the quarter, topping analysts’ consensus estimates of $1.88 by $0.02. Zimmer Biomet had a return on equity of 12.76% and a net margin of 10.51%.The firm had revenue of $2 billion for the quarter, compared to analyst estimates of $2.01 billion. During the same quarter in the prior year, the company posted $1.74 earnings per share. Zimmer Biomet’s quarterly revenue was up 9.6% on a year-over-year basis. Zimmer Biomet has set its FY 2025 guidance at 8.100-8.300 EPS. As a group, equities analysts predict that Zimmer Biomet will post 8.22 EPS for the current fiscal year.

Insider Transactions at Zimmer Biomet

In other Zimmer Biomet news, SVP Lori Winkler sold 1,500 shares of Zimmer Biomet stock in a transaction that occurred on Monday, September 8th. The stock was sold at an average price of $104.15, for a total transaction of $156,225.00. Following the sale, the senior vice president directly owned 6,833 shares in the company, valued at $711,656.95. The trade was a 18.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.39% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Zimmer Biomet

A number of institutional investors have recently made changes to their positions in the company. Wealthfront Advisers LLC increased its holdings in shares of Zimmer Biomet by 90.1% in the 3rd quarter. Wealthfront Advisers LLC now owns 9,270 shares of the medical equipment provider’s stock valued at $913,000 after acquiring an additional 4,393 shares during the last quarter. Key Financial Inc increased its holdings in shares of Zimmer Biomet by 164.6% in the 3rd quarter. Key Financial Inc now owns 262 shares of the medical equipment provider’s stock valued at $26,000 after acquiring an additional 163 shares during the last quarter. Smartleaf Asset Management LLC increased its holdings in shares of Zimmer Biomet by 64.1% in the 3rd quarter. Smartleaf Asset Management LLC now owns 1,234 shares of the medical equipment provider’s stock valued at $121,000 after acquiring an additional 482 shares during the last quarter. Ironwood Investment Counsel LLC increased its holdings in shares of Zimmer Biomet by 12.8% in the 3rd quarter. Ironwood Investment Counsel LLC now owns 2,474 shares of the medical equipment provider’s stock valued at $244,000 after acquiring an additional 280 shares during the last quarter. Finally, Border to Coast Pensions Partnership Ltd increased its holdings in shares of Zimmer Biomet by 6.5% in the 3rd quarter. Border to Coast Pensions Partnership Ltd now owns 360,462 shares of the medical equipment provider’s stock valued at $35,506,000 after acquiring an additional 22,104 shares during the last quarter. 88.89% of the stock is currently owned by 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.