Zimmer Biomet (NYSE:ZBH) Given “Market Outperform” Rating at JMP Securities

Zimmer Biomet (NYSE:ZBH)‘s stock had its “market outperform” rating reiterated by investment analysts at JMP Securities in a research note issued to investors on Friday,Benzinga reports. They currently have a $140.00 price objective on the medical equipment provider’s stock. JMP Securities’ target price indicates a potential upside of 37.66% from the company’s previous close.

ZBH has been the subject of several other research reports. Wells Fargo & Company lifted their target price 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. Oppenheimer cut their price objective on shares of Zimmer Biomet from $145.00 to $135.00 and set an “outperform” rating for the company in a report on Tuesday, October 15th. Barclays cut their price objective on shares of Zimmer Biomet from $125.00 to $118.00 and set an “underweight” rating for the company in a report on Thursday, December 12th. Raymond James cut their price target on shares of Zimmer Biomet from $126.00 to $119.00 and set an “outperform” rating for the company in a report on Friday. Finally, Stifel Nicolaus upped their price objective on shares of Zimmer Biomet from $130.00 to $138.00 and gave the stock a “buy” rating in a research report on Thursday, January 23rd. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, Zimmer Biomet presently has an average rating of “Hold” and an average target price of $124.70.

Zimmer Biomet Stock Performance

Shares of Zimmer Biomet stock traded down $0.99 during trading on Friday, hitting $101.70. 1,118,438 shares of the stock were exchanged, compared to its average volume of 1,769,172. The stock has a market capitalization of $20.25 billion, a price-to-earnings ratio of 19.35, a price-to-earnings-growth ratio of 1.88 and a beta of 1.02. The company has a fifty day moving average price of $107.56 and a 200-day moving average price of $108.16. Zimmer Biomet has a 1-year low of $100.67 and a 1-year high of $133.90. The company has a current ratio of 1.36, a quick ratio of 0.70 and a debt-to-equity ratio of 0.38.

Zimmer Biomet (NYSE:ZBH) last released its quarterly earnings data on Thursday, February 6th. The medical equipment provider reported $2.31 earnings per share for the quarter, topping the consensus estimate of $2.30 by $0.01. Zimmer Biomet had a net margin of 14.27% and a return on equity of 12.95%. During the same quarter last year, the firm posted $2.20 EPS. As a group, equities analysts predict that Zimmer Biomet will post 7.99 EPS for the current fiscal year.

Institutional Trading of Zimmer Biomet

Several institutional investors and hedge funds have recently made changes to their positions in the company. Geode Capital Management LLC raised its holdings 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 purchasing an additional 125,852 shares during the last quarter. Van ECK Associates Corp raised its holdings in shares of Zimmer Biomet by 5.9% in the fourth quarter. Van ECK Associates Corp now owns 3,955,449 shares of the medical equipment provider’s stock valued at $417,814,000 after purchasing an additional 218,688 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of Zimmer Biomet by 0.4% in the third 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. Hotchkis & Wiley Capital Management LLC raised its holdings in shares of Zimmer Biomet by 49.1% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 1,752,298 shares of the medical equipment provider’s stock valued at $189,161,000 after purchasing an additional 577,320 shares during the last quarter. Finally, Equity Investment Corp raised its holdings in shares of Zimmer Biomet by 57.2% in the fourth quarter. Equity Investment Corp now owns 1,021,062 shares of the medical equipment provider’s stock valued at $107,855,000 after purchasing an additional 371,653 shares during the last quarter. Hedge funds and other 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.