Zimmer Biomet (NYSE:ZBH) Price Target Raised to $118.00 at Truist Financial

Zimmer Biomet (NYSE:ZBH) had its price objective boosted by stock analysts at Truist Financial from $117.00 to $118.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has a “hold” rating on the medical equipment provider’s stock. Truist Financial’s price objective would indicate a potential upside of 11.52% from the company’s current price.

Other equities research analysts have also issued reports about the company. Evercore ISI reduced their price objective on Zimmer Biomet from $113.00 to $110.00 and set an “in-line” rating for the company in a research note on Tuesday, October 1st. Raymond James decreased their price objective on Zimmer Biomet from $128.00 to $123.00 and set an “outperform” rating on the stock in a research note on Monday, October 14th. Barclays cut their price objective on Zimmer Biomet from $125.00 to $118.00 and set an “underweight” rating for the company in a research note on Thursday, December 12th. JPMorgan Chase & Co. upgraded shares of Zimmer Biomet from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $125.00 to $128.00 in a research note on Tuesday. Finally, Wells Fargo & Company upped their price target on shares of Zimmer Biomet from $110.00 to $117.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 31st. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $123.33.

Zimmer Biomet Stock Performance

Shares of ZBH opened at $105.81 on Wednesday. The firm has a market capitalization of $21.06 billion, a P/E ratio of 20.12, a PEG ratio of 1.96 and a beta of 1.02. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.36 and a quick ratio of 0.70. Zimmer Biomet has a one year low of $101.47 and a one year high of $133.90. The business has a fifty day moving average of $108.01 and a 200 day moving average of $108.51.

Zimmer Biomet (NYSE:ZBH) last posted its quarterly earnings data on Wednesday, October 30th. The medical equipment provider reported $1.74 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.74. Zimmer Biomet had a net margin of 14.27% and a return on equity of 12.95%. The company had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.80 billion. During the same quarter last year, the firm posted $1.65 earnings per share. The firm’s revenue was up 4.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Zimmer Biomet will post 7.99 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Dunhill Financial LLC raised its stake in Zimmer Biomet by 1,090.0% during the third quarter. Dunhill Financial LLC now owns 238 shares of the medical equipment provider’s stock valued at $26,000 after purchasing an additional 218 shares in the last quarter. Ashton Thomas Securities LLC purchased a new stake in shares of Zimmer Biomet during the 3rd quarter valued at about $28,000. Bangor Savings Bank bought a new position in shares of Zimmer Biomet in the 3rd quarter valued at about $31,000. Family Firm Inc. purchased a new position in Zimmer Biomet in the second quarter worth about $33,000. Finally, Brooklyn Investment Group bought a new stake in Zimmer Biomet during the third quarter worth approximately $35,000. 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.