Zimmer Biomet (NYSE:ZBH) Price Target Cut to $130.00

Zimmer Biomet (NYSE:ZBH) had its target price decreased by Royal Bank of Canada from $140.00 to $130.00 in a research note released on Thursday, Benzinga reports. Royal Bank of Canada currently has an outperform rating on the medical equipment provider’s stock.

Other research analysts also recently issued reports about the company. Argus upgraded Zimmer Biomet from a hold rating to a buy rating and set a $150.00 target price on the stock in a research note on Tuesday, May 21st. Needham & Company LLC reaffirmed a hold rating on shares of Zimmer Biomet in a report on Thursday. The Goldman Sachs Group started coverage on shares of Zimmer Biomet in a report on Thursday, May 30th. They set a neutral rating and a $129.00 price target for the company. Raymond James lowered their price objective on Zimmer Biomet from $138.00 to $128.00 and set an outperform rating on the stock in a report on Thursday. Finally, Piper Sandler downgraded Zimmer Biomet from an overweight rating to a neutral rating and cut their target price for the stock from $140.00 to $115.00 in a research note on Monday, July 1st. Two 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. According to data from MarketBeat, the stock has an average rating of Hold and a consensus target price of $127.67.

Zimmer Biomet Price Performance

ZBH stock opened at $108.08 on Thursday. The business has a 50 day simple moving average of $108.98 and a 200-day simple moving average of $118.58. Zimmer Biomet has a twelve month low of $102.00 and a twelve month high of $133.90. The company has a market capitalization of $22.24 billion, a P/E ratio of 23.39, a PEG ratio of 1.97 and a beta of 1.01. 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 (NYSE:ZBH) last posted its quarterly earnings data on Wednesday, August 7th. The medical equipment provider reported $2.01 EPS for the quarter, beating analysts’ consensus estimates of $1.99 by $0.02. Zimmer Biomet had a net margin of 12.93% and a return on equity of 12.70%. The company had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.94 billion. During the same period in the previous year, the business posted $1.82 earnings per share. Zimmer Biomet’s quarterly revenue was up 3.9% on a year-over-year basis. As a group, equities analysts anticipate that Zimmer Biomet will post 8.1 EPS for the current year.

Institutional Investors Weigh In On Zimmer Biomet

A number of large investors have recently bought and sold shares of ZBH. Price T Rowe Associates Inc. MD lifted its position in shares of Zimmer Biomet by 12.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 10,642,801 shares of the medical equipment provider’s stock valued at $1,404,638,000 after acquiring an additional 1,215,935 shares in the last quarter. American Century Companies Inc. raised 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 purchasing an additional 722,041 shares during the last quarter. Primecap Management Co. CA lifted its holdings in Zimmer Biomet by 10.5% in the 4th quarter. Primecap Management Co. CA now owns 5,086,578 shares of the medical equipment provider’s stock valued at $619,037,000 after purchasing an additional 484,151 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in Zimmer Biomet by 6.7% in the 2nd quarter. Victory Capital Management Inc. now owns 3,364,624 shares of the medical equipment provider’s stock valued at $365,163,000 after purchasing an additional 211,637 shares in the last quarter. Finally, Van ECK Associates Corp boosted its stake in shares of Zimmer Biomet by 5.3% during the 2nd quarter. Van ECK Associates Corp now owns 3,325,598 shares of the medical equipment provider’s stock worth $360,927,000 after purchasing an additional 167,038 shares during the last quarter. Institutional investors and hedge funds 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.