Zimmer Biomet (NYSE:ZBH) PT Lowered to $131.00

Zimmer Biomet (NYSE:ZBHGet Rating) had its price target cut by stock analysts at Truist Financial from $142.00 to $131.00 in a report released on Wednesday, The Fly reports. Truist Financial’s price objective would indicate a potential upside of 6.90% from the stock’s previous close.

Other equities analysts also recently issued reports about the company. Morgan Stanley downgraded Zimmer Biomet from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $165.00 to $145.00 in a research note on Friday, January 7th. The Goldman Sachs Group dropped their price objective on Zimmer Biomet from $179.00 to $155.00 and set a “buy” rating for the company in a research note on Monday, March 21st. JPMorgan Chase & Co. dropped their price objective on Zimmer Biomet from $150.00 to $114.00 and set a “neutral” rating for the company in a research note on Tuesday, February 8th. Piper Sandler dropped their price objective on Zimmer Biomet from $135.00 to $110.00 in a research note on Monday, February 7th. Finally, StockNews.com downgraded Zimmer Biomet from a “buy” rating to a “hold” rating in a research note on Friday, April 8th. Two investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $141.09.

Shares of ZBH stock opened at $122.54 on Wednesday. The company has a market cap of $25.65 billion, a price-to-earnings ratio of 118.97, a price-to-earnings-growth ratio of 3.17 and a beta of 1.16. The stock has a 50 day simple moving average of $124.24 and a 200-day simple moving average of $126.94. Zimmer Biomet has a 12-month low of $108.47 and a 12-month high of $174.84. The company has a current ratio of 1.41, a quick ratio of 0.72 and a debt-to-equity ratio of 0.43.

Zimmer Biomet (NYSE:ZBHGet Rating) last issued its earnings results on Tuesday, May 3rd. The medical equipment provider reported $1.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.40 by $0.21. The business had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $1.59 billion. Zimmer Biomet had a return on equity of 12.30% and a net margin of 5.12%. The company’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same period in the prior year, the business posted $1.71 EPS. On average, equities analysts forecast that Zimmer Biomet will post 6.76 earnings per share for the current fiscal year.

In related news, VP Chad F. Phipps sold 35,149 shares of Zimmer Biomet stock in a transaction on Thursday, March 17th. The stock was sold at an average price of $121.97, for a total value of $4,287,123.53. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.73% of the stock is currently owned by company insiders.

A number of institutional investors have recently modified their holdings of ZBH. Amundi Pioneer Asset Management Inc. boosted its holdings in Zimmer Biomet by 1.3% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 117,666 shares of the medical equipment provider’s stock valued at $15,025,000 after acquiring an additional 1,465 shares during the last quarter. Lincoln National Corp lifted its stake in shares of Zimmer Biomet by 20.0% during the third quarter. Lincoln National Corp now owns 2,000 shares of the medical equipment provider’s stock worth $293,000 after purchasing an additional 333 shares in the last quarter. Advisor Group Holdings Inc. lifted its stake in shares of Zimmer Biomet by 16.3% during the third quarter. Advisor Group Holdings Inc. now owns 29,129 shares of the medical equipment provider’s stock worth $4,269,000 after purchasing an additional 4,081 shares in the last quarter. Daiwa Securities Group Inc. lifted its stake in shares of Zimmer Biomet by 4.7% during the third quarter. Daiwa Securities Group Inc. now owns 11,778 shares of the medical equipment provider’s stock worth $1,724,000 after purchasing an additional 529 shares in the last quarter. Finally, MUFG Americas Holdings Corp lifted its stake in shares of Zimmer Biomet by 13.7% during the third quarter. MUFG Americas Holdings Corp now owns 7,369 shares of the medical equipment provider’s stock worth $1,079,000 after purchasing an additional 889 shares in the last quarter. Hedge funds and other institutional investors own 90.34% of the company’s stock.

About Zimmer Biomet (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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