Zimmer Biomet (NYSE:ZBH) Rating Increased to Hold at Zacks Investment Research

Zimmer Biomet (NYSE:ZBHGet Rating) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Wednesday, Zacks.com reports. The firm presently has a $133.00 price target on the medical equipment provider’s stock. Zacks Investment Research‘s price target would indicate a potential upside of 5.56% from the stock’s current price.

According to Zacks, “Zimmer Biomet ended the year 2021 on a dismal note with fourth-quarter and full-year top-and-bottom-line numbers, missing the Zacks Consensus Estimate. According to the company, both net sales and earnings metrics were negatively impacted by China VBP in Knees, Hips and S.E.T. product categories. In terms of COVID-related hurdles, the company registered business loss in Q4 due to hospital staffing shortages and the global spread of Omicron. In the past year, Zimmer Biomet has underperformed its industry. On a positive note, Zimmer Biomet, in spite of a difficult business scenario in the fourth quarter, was able to drive continued strong demand and momentum for ROSA robotics line globally. In the entire year, the company more than doubled the number of installed ROSAs versus its cumulative total at the end of 2020.”

ZBH has been the topic of a number of other research reports. Truist Financial lowered shares of Zimmer Biomet from a “buy” rating to a “hold” rating and raised their target price for the company from $128.00 to $142.00 in a research report on Wednesday. Piper Sandler decreased their price target on shares of Zimmer Biomet from $135.00 to $110.00 in a research note on Monday, February 7th. Royal Bank of Canada decreased their price target on shares of Zimmer Biomet from $140.00 to $125.00 and set a “sector perform” rating for the company in a research note on Tuesday, February 8th. Needham & Company LLC decreased their price target on shares of Zimmer Biomet from $155.00 to $143.00 and set a “buy” rating for the company in a research note on Tuesday, February 8th. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Zimmer Biomet from $140.00 to $121.00 and set a “hold” rating for the company in a report on Tuesday, February 8th. Two equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $145.84.

Shares of ZBH stock opened at $126.00 on Wednesday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.72 and a current ratio of 1.41. The firm’s 50-day moving average is $122.69 and its 200-day moving average is $129.11. The stock has a market cap of $26.37 billion, a price-to-earnings ratio of 66.32, a PEG ratio of 3.31 and a beta of 1.20. Zimmer Biomet has a 52-week low of $108.47 and a 52-week high of $180.36.

Zimmer Biomet (NYSE:ZBHGet Rating) last released its quarterly earnings results on Monday, February 7th. The medical equipment provider reported $1.95 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.98 by ($0.03). The company had revenue of $2.04 billion during the quarter, compared to the consensus estimate of $2.07 billion. Zimmer Biomet had a net margin of 5.12% and a return on equity of 12.30%. The firm’s revenue was down 2.3% compared to the same quarter last year. During the same period in the prior year, the company earned $2.11 earnings per share. Sell-side analysts predict that Zimmer Biomet will post 6.54 EPS for the current fiscal year.

In other news, VP Chad F. Phipps sold 35,149 shares of the business’s stock in a transaction dated Thursday, March 17th. The stock was sold at an average price of $121.97, for a total transaction of $4,287,123.53. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.56% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the company. Amplius Wealth Advisors LLC acquired a new stake in Zimmer Biomet in the fourth quarter valued at $26,000. Widmann Financial Services Inc. purchased a new stake in shares of Zimmer Biomet during the 4th quarter valued at about $28,000. FSB Premier Wealth Management Inc. purchased a new stake in shares of Zimmer Biomet during the 4th quarter valued at about $33,000. US Asset Management LLC purchased a new stake in shares of Zimmer Biomet during the 1st quarter valued at about $33,000. Finally, Paragon Capital Management Ltd acquired a new stake in Zimmer Biomet during the 4th quarter valued at approximately $34,000. Institutional investors and hedge funds own 89.02% of the company’s stock.

Zimmer Biomet Company Profile (Get Rating)

Zimmer Biomet Holdings, Inc, together with its subsidiaries, operates in the musculoskeletal healthcare business in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company designs, manufactures, and markets orthopaedic reconstructive products, such as knee and hip products; S.E.T.

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