Robert W. Baird Issues Pessimistic Forecast for Zimmer Biomet (NYSE:ZBH) Stock Price

Zimmer Biomet (NYSE:ZBH) had its target price decreased by research analysts at Robert W. Baird from $130.00 to $115.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has an “outperform” rating on the medical equipment provider’s stock. Robert W. Baird’s price objective points to a potential upside of 21.93% from the stock’s previous close.

Other analysts have also recently issued reports about the company. Truist Financial reiterated a “hold” rating and set a $113.00 price target (down from $118.00) on shares of Zimmer Biomet in a research report on Monday, February 10th. Needham & Company LLC reaffirmed a “hold” rating on shares of Zimmer Biomet in a research report on Friday, February 7th. Stifel Nicolaus raised their target price on Zimmer Biomet from $130.00 to $138.00 and gave the company a “buy” rating in a research note on Thursday, January 23rd. BTIG Research reaffirmed a “buy” rating on shares of Zimmer Biomet in a report on Monday, April 14th. Finally, Raymond James cut their price objective on shares of Zimmer Biomet from $126.00 to $119.00 and set an “outperform” rating on the stock in a research report on Friday, February 7th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $114.15.

Zimmer Biomet Stock Performance

Shares of ZBH opened at $94.32 on Tuesday. The stock has a market capitalization of $18.66 billion, a PE ratio of 21.20, a price-to-earnings-growth ratio of 1.95 and a beta of 0.78. The business’s fifty day moving average price is $104.81 and its 200 day moving average price is $106.24. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.91 and a quick ratio of 0.99. Zimmer Biomet has a 12-month low of $89.92 and a 12-month high of $122.25.

Zimmer Biomet (NYSE:ZBH) last posted its quarterly earnings results on Monday, May 5th. The medical equipment provider reported $1.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.77 by $0.04. Zimmer Biomet had a net margin of 11.77% and a return on equity of 12.99%. The company had revenue of $1.91 billion for the quarter, compared to the consensus estimate of $1.89 billion. During the same period last year, the firm posted $1.94 EPS. The company’s revenue for the quarter was up 1.1% on a year-over-year basis. Equities research analysts forecast that Zimmer Biomet will post 8.22 EPS for the current year.

Insider Buying and Selling at Zimmer Biomet

In other news, SVP Lori Winkler sold 1,443 shares of the company’s stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $104.40, for a total transaction of $150,649.20. Following the completion of the sale, the senior vice president now directly owns 8,768 shares of the company’s stock, valued at $915,379.20. This represents a 14.13 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 1.39% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. B. Riley Wealth Advisors Inc. lifted its position in shares of Zimmer Biomet by 17.5% in the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 2,404 shares of the medical equipment provider’s stock valued at $260,000 after acquiring an additional 358 shares in the last quarter. GAMMA Investing LLC raised its stake in Zimmer Biomet by 67.6% during the 4th quarter. GAMMA Investing LLC now owns 2,298 shares of the medical equipment provider’s stock valued at $243,000 after purchasing an additional 927 shares during the period. Nordea Investment Management AB lifted its holdings in shares of Zimmer Biomet by 3.9% in the fourth quarter. Nordea Investment Management AB now owns 16,333 shares of the medical equipment provider’s stock valued at $1,732,000 after purchasing an additional 609 shares in the last quarter. First Hawaiian Bank grew its holdings in shares of Zimmer Biomet by 14.0% during the fourth quarter. First Hawaiian Bank now owns 20,400 shares of the medical equipment provider’s stock valued at $2,155,000 after buying an additional 2,500 shares in the last quarter. Finally, ORG Partners LLC lifted its stake in Zimmer Biomet by 14,497.5% in the 4th quarter. ORG Partners LLC now owns 5,839 shares of the medical equipment provider’s stock worth $617,000 after acquiring an additional 5,799 shares in the last quarter. 88.89% of the stock is currently owned by institutional investors and hedge funds.

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.