Barclays Lowers Zimmer Biomet (ZBH) Price Target to $119.00

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Zimmer Biomet (NYSE:ZBH) had its target price cut by research analysts at Barclays from $131.00 to $119.00 in a report issued on Monday. The brokerage presently has a “sell” rating on the medical equipment provider’s stock. Barclays’ price target would indicate a potential upside of 3.86% from the company’s current price.

Several other equities analysts also recently weighed in on ZBH. Jefferies Financial Group lifted their target price on shares of Zimmer Biomet to $145.00 and gave the stock a “buy” rating in a research note on Monday, July 30th. Oppenheimer reiterated a “buy” rating and issued a $138.00 target price (up previously from $130.00) on shares of Zimmer Biomet in a research note on Friday, July 27th. Needham & Company LLC downgraded shares of Zimmer Biomet from a “strong-buy” rating to a “buy” rating and set a $150.00 target price for the company. in a research note on Monday, August 13th. Cantor Fitzgerald reiterated a “buy” rating and issued a $150.00 target price on shares of Zimmer Biomet in a research note on Monday, August 27th. Finally, Canaccord Genuity lifted their target price on shares of Zimmer Biomet from $122.00 to $125.00 and gave the stock a “hold” rating in a research note on Monday, July 30th. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and fifteen have given a buy rating to the company. Zimmer Biomet has a consensus rating of “Hold” and an average price target of $133.86.

Shares of ZBH stock opened at $114.58 on Monday. The stock has a market capitalization of $23.43 billion, a price-to-earnings ratio of 14.27, a P/E/G ratio of 2.11 and a beta of 1.08. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.96 and a current ratio of 1.89. Zimmer Biomet has a 52 week low of $104.28 and a 52 week high of $134.55.

Zimmer Biomet (NYSE:ZBH) last announced its quarterly earnings data on Friday, October 26th. The medical equipment provider reported $1.63 EPS for the quarter, topping the consensus estimate of $1.60 by $0.03. The business had revenue of $1.84 billion for the quarter, compared to analyst estimates of $1.84 billion. Zimmer Biomet had a net margin of 22.42% and a return on equity of 12.88%. The company’s revenue for the quarter was up 1.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.72 earnings per share. Research analysts predict that Zimmer Biomet will post 7.66 earnings per share for the current year.

In related news, VP Chad F. Phipps sold 30,100 shares of the business’s stock in a transaction that occurred on Friday, September 21st. The shares were sold at an average price of $132.37, for a total transaction of $3,984,337.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Bryan C. Hanson acquired 410 shares of Zimmer Biomet stock in a transaction that occurred on Friday, August 31st. The shares were purchased at an average cost of $123.03 per share, with a total value of $50,442.30. Following the purchase, the chief executive officer now owns 25,487 shares of the company’s stock, valued at approximately $3,135,665.61. The disclosure for this purchase can be found here. 0.71% of the stock is currently owned by insiders.

Large investors have recently modified their holdings of the stock. MainStreet Investment Advisors LLC grew its stake in Zimmer Biomet by 8.9% in the 2nd quarter. MainStreet Investment Advisors LLC now owns 4,881 shares of the medical equipment provider’s stock worth $544,000 after buying an additional 399 shares in the last quarter. Robeco Institutional Asset Management B.V. grew its stake in Zimmer Biomet by 8.1% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 5,596 shares of the medical equipment provider’s stock worth $736,000 after buying an additional 418 shares in the last quarter. Boltwood Capital Management grew its stake in Zimmer Biomet by 5.7% in the 3rd quarter. Boltwood Capital Management now owns 7,788 shares of the medical equipment provider’s stock worth $1,023,000 after buying an additional 420 shares in the last quarter. Bradley Foster & Sargent Inc. CT grew its stake in Zimmer Biomet by 6.7% in the 2nd quarter. Bradley Foster & Sargent Inc. CT now owns 6,773 shares of the medical equipment provider’s stock worth $755,000 after buying an additional 423 shares in the last quarter. Finally, TD Asset Management Inc. grew its stake in Zimmer Biomet by 0.7% in the 2nd quarter. TD Asset Management Inc. now owns 61,859 shares of the medical equipment provider’s stock worth $6,894,000 after buying an additional 425 shares in the last quarter. 86.58% of the stock is owned by institutional investors.

About Zimmer Biomet

Zimmer Biomet Holdings, Inc, together with its subsidiaries, designs, manufactures, and markets musculoskeletal healthcare products and solutions in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. It operates through four segments: Spine, less Asia Pacific; Office Based Technologies; Craniomaxillofacial and Thoracic; and Dental.

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Analyst Recommendations for Zimmer Biomet (NYSE:ZBH)

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