Raymond James Lowers Zimmer Biomet (NYSE:ZBH) Price Target to $119.00

Zimmer Biomet (NYSE:ZBH) had its price target decreased by research analysts at Raymond James from $126.00 to $119.00 in a research note issued on Friday,Benzinga reports. The firm presently has an “outperform” rating on the medical equipment provider’s stock. Raymond James’ target price suggests a potential upside of 17.01% from the stock’s previous close.

ZBH has been the subject of several other reports. Royal Bank of Canada raised their price objective on Zimmer Biomet from $120.00 to $125.00 and gave the stock an “outperform” rating in a research note on Monday, November 4th. Barclays cut their price objective on Zimmer Biomet from $125.00 to $118.00 and set an “underweight” rating for the company in a report on Thursday, December 12th. Truist Financial increased their price objective on Zimmer Biomet from $117.00 to $118.00 and gave the stock a “hold” rating in a report on Wednesday, December 18th. Stifel Nicolaus raised their target price on Zimmer Biomet from $130.00 to $138.00 and gave the company a “buy” rating in a report on Thursday, January 23rd. Finally, JPMorgan Chase & Co. upgraded Zimmer Biomet from a “neutral” rating to an “overweight” rating and raised their target price for the company from $125.00 to $128.00 in a report on Tuesday, December 17th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, Zimmer Biomet has an average rating of “Hold” and a consensus target price of $124.70.

Zimmer Biomet Stock Performance

NYSE:ZBH traded down $0.99 during trading hours on Friday, reaching $101.70. 1,118,438 shares of the stock were exchanged, compared to its average volume of 1,769,172. The company has a quick ratio of 0.70, a current ratio of 1.36 and a debt-to-equity ratio of 0.38. The firm has a 50 day simple moving average of $107.56 and a 200-day simple moving average of $108.16. Zimmer Biomet has a 52 week low of $100.67 and a 52 week high of $133.90. The stock has a market capitalization of $20.25 billion, a P/E ratio of 19.35, a P/E/G ratio of 1.88 and a beta of 1.02.

Zimmer Biomet (NYSE:ZBH) last announced its quarterly earnings results on Thursday, February 6th. The medical equipment provider reported $2.31 earnings per share for the quarter, topping analysts’ consensus estimates of $2.30 by $0.01. Zimmer Biomet had a return on equity of 12.95% and a net margin of 14.27%. During the same quarter in the previous year, the business posted $2.20 EPS. As a group, sell-side analysts forecast that Zimmer Biomet will post 7.99 earnings per share for the current fiscal year.

Institutional Trading of Zimmer Biomet

A number of hedge funds have recently bought and sold shares of ZBH. Stonebridge Financial Group LLC purchased a new stake in Zimmer Biomet in the fourth quarter worth $25,000. Dunhill Financial LLC increased its position in Zimmer Biomet by 1,090.0% in the third quarter. Dunhill Financial LLC now owns 238 shares of the medical equipment provider’s stock worth $26,000 after buying an additional 218 shares in the last quarter. Ashton Thomas Securities LLC purchased a new stake in shares of Zimmer Biomet during the third quarter worth about $28,000. Brooklyn Investment Group bought a new position in Zimmer Biomet during the third quarter valued at approximately $35,000. Finally, Kentucky Trust Co bought a new position in Zimmer Biomet during the fourth quarter valued at approximately $39,000. 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.