Zimmer Biomet (NYSE:ZBH) Receives In-Line Rating from Evercore ISI

Zimmer Biomet (NYSE:ZBH)‘s stock had its “in-line” rating reaffirmed by analysts at Evercore ISI in a research note issued on Thursday, Benzinga reports. They currently have a $113.00 target price on the medical equipment provider’s stock. Evercore ISI’s price objective would suggest a potential upside of 7.22% from the company’s current price.

Other analysts have also issued research reports about the stock. Piper Sandler lowered shares of Zimmer Biomet from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $140.00 to $115.00 in a research note on Monday, July 1st. Canaccord Genuity Group decreased their target price on shares of Zimmer Biomet from $130.00 to $120.00 and set a “hold” rating for the company in a research report on Tuesday, August 20th. Citigroup dropped their price target on shares of Zimmer Biomet from $134.00 to $120.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 10th. Morgan Stanley decreased their price objective on Zimmer Biomet from $130.00 to $120.00 and set an “equal weight” rating for the company in a report on Monday, July 15th. Finally, Royal Bank of Canada dropped their target price on Zimmer Biomet from $140.00 to $130.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, Zimmer Biomet currently has an average rating of “Hold” and an average target price of $126.41.

Zimmer Biomet Trading Down 7.9 %

NYSE ZBH traded down $9.09 during mid-day trading on Thursday, reaching $105.39. 2,617,256 shares of the stock were exchanged, compared to its average volume of 1,467,350. The stock has a market cap of $21.68 billion, a P/E ratio of 22.81, a P/E/G ratio of 2.06 and a beta of 1.01. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.29 and a quick ratio of 0.63. Zimmer Biomet has a one year low of $102.00 and a one year high of $133.90. The stock has a 50 day simple moving average of $110.19 and a 200-day simple moving average of $117.16.

Zimmer Biomet (NYSE:ZBH) last posted its quarterly earnings data on Wednesday, August 7th. The medical equipment provider reported $2.01 earnings per share for the quarter, topping the consensus estimate of $1.99 by $0.02. Zimmer Biomet had a return on equity of 12.86% and a net margin of 13.25%. The firm had revenue of $1.94 billion during the quarter, compared to analyst estimates of $1.94 billion. During the same period last year, the company posted $1.82 EPS. The business’s quarterly revenue was up 3.9% on a year-over-year basis. On average, analysts anticipate that Zimmer Biomet will post 8.06 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of ZBH. TD Asset Management Inc raised its position in Zimmer Biomet by 10.1% during the fourth quarter. TD Asset Management Inc now owns 169,595 shares of the medical equipment provider’s stock valued at $20,640,000 after purchasing an additional 15,552 shares in the last quarter. Bank of Nova Scotia grew its position in Zimmer Biomet by 499.0% during the fourth quarter. Bank of Nova Scotia now owns 134,729 shares of the medical equipment provider’s stock valued at $16,397,000 after acquiring an additional 112,237 shares during the last quarter. Speece Thorson Capital Group Inc. raised its stake in shares of Zimmer Biomet by 13.8% during the fourth quarter. Speece Thorson Capital Group Inc. now owns 158,202 shares of the medical equipment provider’s stock worth $19,253,000 after acquiring an additional 19,144 shares in the last quarter. APG Asset Management US Inc. bought a new stake in shares of Zimmer Biomet in the 4th quarter worth approximately $14,530,000. Finally, M&G Plc purchased a new stake in shares of Zimmer Biomet in the 1st quarter valued at $7,397,000. 88.89% of the stock is currently owned by institutional investors.

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.