Zimmer Biomet (NYSE:ZBH) PT Lowered to $125.00 at Citigroup

Zimmer Biomet (NYSE:ZBHGet Rating) had its price objective dropped by research analysts at Citigroup from $135.00 to $125.00 in a report released on Tuesday, The Fly reports. Citigroup’s target price points to a potential upside of 8.58% from the company’s previous close.

Other equities analysts have also issued research reports about the stock. SVB Leerink decreased their price target on shares of Zimmer Biomet from $150.00 to $135.00 and set an “outperform” rating on the stock in a report on Tuesday, February 8th. Zacks Investment Research raised shares of Zimmer Biomet from a “sell” rating to a “hold” rating and set a $133.00 target price on the stock in a research note on Wednesday, April 13th. Piper Sandler cut their target price on shares of Zimmer Biomet from $135.00 to $110.00 in a research note on Monday, February 7th. The Goldman Sachs Group cut their target price on shares of Zimmer Biomet from $179.00 to $155.00 and set a “buy” rating on the stock in a research note on Monday, March 21st. Finally, Wells Fargo & Company cut their target price on shares of Zimmer Biomet from $124.00 to $111.00 and set an “underweight” rating on the stock in a research note on Tuesday, February 8th. Two analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $140.65.

Shares of ZBH opened at $115.12 on Tuesday. The firm has a market cap of $24.13 billion, a PE ratio of 111.77, a price-to-earnings-growth ratio of 2.78 and a beta of 1.16. The company’s fifty day moving average is $123.39 and its two-hundred day moving average is $124.99. Zimmer Biomet has a fifty-two week low of $108.47 and a fifty-two week high of $169.98. The company has a quick ratio of 0.89, a current ratio of 1.69 and a debt-to-equity ratio of 0.44.

Zimmer Biomet (NYSE:ZBHGet Rating) last announced its quarterly earnings results on Tuesday, May 3rd. The medical equipment provider reported $1.61 earnings per share for the quarter, beating analysts’ consensus estimates of $1.40 by $0.21. The company had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.59 billion. Zimmer Biomet had a net margin of 2.85% and a return on equity of 12.23%. Zimmer Biomet’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same quarter last year, the business earned $1.71 EPS. As a group, equities research analysts anticipate that Zimmer Biomet will post 6.72 earnings per share for the current year.

In other news, VP Chad F. Phipps sold 35,149 shares of Zimmer Biomet stock in a transaction dated Thursday, March 17th. The shares were sold at an average price of $121.97, for a total value of $4,287,123.53. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.73% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in Zimmer Biomet by 19.0% during the 1st quarter. Vanguard Group Inc. now owns 23,102,761 shares of the medical equipment provider’s stock valued at $2,954,843,000 after purchasing an additional 3,695,510 shares during the period. Norges Bank acquired a new position in Zimmer Biomet during the 4th quarter valued at about $256,611,000. Allspring Global Investments Holdings LLC acquired a new position in Zimmer Biomet during the 4th quarter valued at about $228,026,000. Capital International Investors boosted its stake in Zimmer Biomet by 41.4% during the 4th quarter. Capital International Investors now owns 5,530,514 shares of the medical equipment provider’s stock valued at $702,596,000 after purchasing an additional 1,618,582 shares during the period. Finally, Ceredex Value Advisors LLC acquired a new position in Zimmer Biomet during the 1st quarter valued at about $197,607,000. 90.34% of the stock is owned by institutional investors and hedge funds.

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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