Oppenheimer Raises Zimmer Biomet (NYSE:ZBH) Price Target to $155.00

Zimmer Biomet (NYSE:ZBH) had its price target hoisted by research analysts at Oppenheimer from $150.00 to $155.00 in a research note issued on Friday, Benzinga reports. The firm presently has an “outperform” rating on the medical equipment provider’s stock. Oppenheimer’s price target suggests a potential upside of 27.40% from the company’s current price.

A number of other analysts have also commented on the company. Needham & Company LLC reiterated a “hold” rating on shares of Zimmer Biomet in a research report on Thursday. Canaccord Genuity Group reiterated a “hold” rating and issued a $130.00 price objective on shares of Zimmer Biomet in a research report on Friday, February 23rd. StockNews.com lowered Zimmer Biomet from a “strong-buy” rating to a “buy” rating in a research report on Monday, February 19th. Truist Financial boosted their target price on Zimmer Biomet from $133.00 to $135.00 and gave the stock a “hold” rating in a research report on Friday, February 9th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $140.00 target price on shares of Zimmer Biomet in a research report on Friday, February 9th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $135.40.

Zimmer Biomet Stock Performance

Zimmer Biomet stock opened at $121.66 on Friday. The stock has a 50-day simple moving average of $125.30 and a 200 day simple moving average of $120.02. The company has a quick ratio of 0.78, a current ratio of 1.66 and a debt-to-equity ratio of 0.38. Zimmer Biomet has a 12-month low of $102.00 and a 12-month high of $147.50. The stock has a market capitalization of $25.00 billion, a price-to-earnings ratio of 26.33, a P/E/G ratio of 2.17 and a beta of 1.03.

Zimmer Biomet (NYSE:ZBH) last released its quarterly earnings results on Thursday, May 2nd. The medical equipment provider reported $1.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.87 by $0.07. The business had revenue of $1.89 billion during the quarter, compared to analysts’ expectations of $1.87 billion. Zimmer Biomet had a return on equity of 12.70% and a net margin of 12.93%. The firm’s revenue for the quarter was up 3.2% compared to the same quarter last year. During the same period in the previous year, the business posted $1.89 earnings per share. On average, research analysts anticipate that Zimmer Biomet will post 8.08 earnings per share for the current fiscal year.

Insider Activity at Zimmer Biomet

In related news, VP Chad F. Phipps sold 26,156 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $128.62, for a total value of $3,364,184.72. Following the completion of the transaction, the vice president now directly owns 44,145 shares in the company, valued at approximately $5,677,929.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.95% of the stock is owned by insiders.

Institutional Investors Weigh In On Zimmer Biomet

Several institutional investors have recently bought and sold shares of the company. Primecap Management Co. CA lifted its stake in Zimmer Biomet by 10.5% in the 4th quarter. Primecap Management Co. CA now owns 5,086,578 shares of the medical equipment provider’s stock valued at $619,037,000 after acquiring an additional 484,151 shares in the last quarter. American Century Companies Inc. lifted its stake in Zimmer Biomet by 21.2% in the 3rd quarter. American Century Companies Inc. now owns 4,863,741 shares of the medical equipment provider’s stock valued at $545,809,000 after acquiring an additional 852,186 shares in the last quarter. Victory Capital Management Inc. lifted its stake in Zimmer Biomet by 3.9% in the 4th quarter. Victory Capital Management Inc. now owns 3,199,302 shares of the medical equipment provider’s stock valued at $389,355,000 after acquiring an additional 118,839 shares in the last quarter. Van ECK Associates Corp raised its stake in shares of Zimmer Biomet by 11.3% during the 1st quarter. Van ECK Associates Corp now owns 3,158,560 shares of the medical equipment provider’s stock worth $416,866,000 after purchasing an additional 320,002 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC raised its stake in shares of Zimmer Biomet by 16.3% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 2,760,021 shares of the medical equipment provider’s stock worth $335,895,000 after purchasing an additional 386,019 shares in the last quarter. Institutional investors own 88.89% of the company’s stock.

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.