Citigroup Has Lowered Expectations for Zimmer Biomet (NYSE:ZBH) Stock Price

Zimmer Biomet (NYSE:ZBH) had its target price decreased by equities research analysts at Citigroup from $95.00 to $93.00 in a research note issued on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the medical equipment provider’s stock. Citigroup’s price objective suggests a potential upside of 12.16% from the company’s current price.

A number of other brokerages have also commented on ZBH. Citizens Jmp dropped their price objective on shares of Zimmer Biomet from $120.00 to $105.00 and set a “market outperform” rating on the stock in a report on Wednesday, April 29th. Robert W. Baird set a $92.00 price objective on shares of Zimmer Biomet in a report on Wednesday, April 29th. Weiss Ratings upgraded shares of Zimmer Biomet from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, April 7th. Wells Fargo & Company dropped their price objective on shares of Zimmer Biomet from $98.00 to $90.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 29th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Zimmer Biomet from $100.00 to $95.00 and set a “neutral” rating on the stock in a report on Wednesday, April 29th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, twelve have assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $102.70.

Zimmer Biomet Stock Up 0.4%

Shares of NYSE:ZBH traded up $0.36 during midday trading on Thursday, reaching $82.92. 1,712,451 shares of the company were exchanged, compared to its average volume of 2,289,263. Zimmer Biomet has a fifty-two week low of $79.12 and a fifty-two week high of $108.29. The company has a quick ratio of 0.95, a current ratio of 1.73 and a debt-to-equity ratio of 0.50. The stock has a fifty day simple moving average of $88.28 and a two-hundred day simple moving average of $90.73. The firm has a market cap of $16.04 billion, a PE ratio of 21.54, a P/E/G ratio of 1.95 and a beta of 0.48.

Zimmer Biomet (NYSE:ZBH) last issued its quarterly earnings data on Tuesday, April 28th. The medical equipment provider reported $2.09 EPS for the quarter, topping analysts’ consensus estimates of $1.86 by $0.23. Zimmer Biomet had a net margin of 9.05% and a return on equity of 13.24%. The business had revenue of $2.09 billion for the quarter, compared to analyst estimates of $2.07 billion. During the same period last year, the business posted $1.81 earnings per share. The firm’s quarterly revenue was up 9.3% on a year-over-year basis. Zimmer Biomet has set its FY 2026 guidance at 8.400-8.550 EPS. As a group, sell-side analysts forecast that Zimmer Biomet will post 8.47 earnings per share for the current year.

Insiders Place Their Bets

In related news, SVP Lori Winkler sold 2,650 shares of the firm’s stock in a transaction on Thursday, March 12th. The shares were sold at an average price of $94.66, for a total value of $250,849.00. Following the completion of the transaction, the senior vice president owned 10,224 shares of the company’s stock, valued at approximately $967,803.84. This trade represents a 20.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.28% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the business. Dodge & Cox grew its position in Zimmer Biomet by 1.3% in the fourth quarter. Dodge & Cox now owns 23,506,849 shares of the medical equipment provider’s stock valued at $2,113,736,000 after purchasing an additional 290,676 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Zimmer Biomet by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 23,483,741 shares of the medical equipment provider’s stock worth $2,111,658,000 after purchasing an additional 192,517 shares during the last quarter. State Street Corp increased its stake in shares of Zimmer Biomet by 2.3% during the 4th quarter. State Street Corp now owns 8,826,974 shares of the medical equipment provider’s stock worth $795,814,000 after purchasing an additional 195,214 shares during the last quarter. Capital International Investors increased its stake in shares of Zimmer Biomet by 11.5% during the 3rd quarter. Capital International Investors now owns 7,550,754 shares of the medical equipment provider’s stock worth $743,749,000 after purchasing an additional 778,467 shares during the last quarter. Finally, Franklin Resources Inc. increased its stake in shares of Zimmer Biomet by 43.2% during the 4th quarter. Franklin Resources Inc. now owns 6,685,987 shares of the medical equipment provider’s stock worth $601,204,000 after purchasing an additional 2,017,857 shares during the last quarter. Institutional investors own 88.89% of the company’s stock.

About Zimmer Biomet

Zimmer Biomet (NYSE: ZBH) is a global medical device company focused on musculoskeletal healthcare. Headquartered in Warsaw, Indiana, the company designs, manufactures and markets a broad portfolio of products used to treat joint disorders, bone disorders and related conditions. Its customer base includes orthopaedic and dental surgeons, hospitals, ambulatory surgery centers and other healthcare providers that rely on implants, instruments and related services for reconstructive and restorative procedures.

The company’s product offerings span joint replacement systems for hips, knees and shoulders; trauma and extremities implants; spine and thoracic solutions; dental and craniomaxillofacial implants and prosthetics; and sports medicine devices.