Zimmer Biomet (NYSE:ZBH) Given New $123.00 Price Target at Raymond James

Zimmer Biomet (NYSE:ZBH) had its price objective lowered by stock analysts at Raymond James from $128.00 to $123.00 in a research note issued to investors on Monday, Benzinga reports. The firm currently has an “outperform” rating on the medical equipment provider’s stock. Raymond James’ target price suggests a potential upside of 17.64% from the company’s previous close.

Several other brokerages have also commented on ZBH. Evercore ISI cut their price objective on Zimmer Biomet from $113.00 to $110.00 and set an “in-line” rating for the company in a report on Tuesday, October 1st. Oppenheimer reduced their price target on shares of Zimmer Biomet from $155.00 to $145.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. BTIG Research dropped their price objective on shares of Zimmer Biomet from $134.00 to $126.00 and set a “buy” rating on the stock in a report on Thursday, October 3rd. Canaccord Genuity Group reduced their target price on shares of Zimmer Biomet from $120.00 to $115.00 and set a “hold” rating for the company in a report on Tuesday, September 10th. Finally, UBS Group decreased their price target on shares of Zimmer Biomet from $112.00 to $107.00 and set a “sell” rating on the stock in a research report on Thursday, August 8th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, Zimmer Biomet presently has a consensus rating of “Hold” and an average price target of $124.26.

Zimmer Biomet Stock Performance

NYSE:ZBH traded up $1.06 during mid-day trading on Monday, reaching $104.56. The company’s stock had a trading volume of 435,941 shares, compared to its average volume of 1,486,580. The company has a current ratio of 1.29, a quick ratio of 0.63 and a debt-to-equity ratio of 0.31. The stock has a market cap of $21.51 billion, a P/E ratio of 22.62, a PEG ratio of 1.89 and a beta of 1.02. The firm’s fifty day moving average price is $108.37 and its two-hundred day moving average price is $113.07. Zimmer Biomet has a 12-month low of $101.47 and a 12-month high of $133.90.

Zimmer Biomet (NYSE:ZBH) last released its quarterly earnings data on Wednesday, August 7th. The medical equipment provider reported $2.01 earnings per share for the quarter, beating the consensus estimate of $1.99 by $0.02. Zimmer Biomet had a net margin of 13.25% and a return on equity of 12.86%. The firm had revenue of $1.94 billion during the quarter, compared to analysts’ expectations of $1.94 billion. During the same period in the previous year, the company earned $1.82 earnings per share. The firm’s quarterly revenue was up 3.9% on a year-over-year basis. On average, equities analysts forecast that Zimmer Biomet will post 8 EPS for the current fiscal year.

Hedge Funds Weigh In On Zimmer Biomet

Institutional investors and hedge funds have recently made changes to their positions in the business. Crewe Advisors LLC bought a new stake in Zimmer Biomet during the first quarter worth approximately $31,000. Bangor Savings Bank bought a new position in shares of Zimmer Biomet during the 3rd quarter valued at approximately $31,000. Family Firm Inc. purchased a new stake in Zimmer Biomet during the 2nd quarter valued at $33,000. J.Safra Asset Management Corp lifted its position in Zimmer Biomet by 712.1% in the first quarter. J.Safra Asset Management Corp now owns 268 shares of the medical equipment provider’s stock worth $35,000 after buying an additional 235 shares during the last quarter. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new position in Zimmer Biomet during the second quarter worth $43,000. 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.