Zimmer Biomet (NYSE:ZBH) Earns “Hold” Rating from Needham & Company LLC

Zimmer Biomet (NYSE:ZBH)‘s stock had its “hold” rating reissued by stock analysts at Needham & Company LLC in a research note issued on Friday,Benzinga reports.

A number of other research analysts have also issued reports on ZBH. Wells Fargo & Company boosted their price target on shares of Zimmer Biomet from $110.00 to $117.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 31st. Truist Financial upped their target price on shares of Zimmer Biomet from $117.00 to $118.00 and gave the stock a “hold” rating in a research report on Wednesday, December 18th. Raymond James decreased their price target on Zimmer Biomet from $128.00 to $123.00 and set an “outperform” rating on the stock in a research note on Monday, October 14th. Oppenheimer dropped their price objective on Zimmer Biomet from $145.00 to $135.00 and set an “outperform” rating for the company in a research note on Tuesday, October 15th. Finally, Royal Bank of Canada raised their price target on Zimmer Biomet from $120.00 to $125.00 and gave the company an “outperform” rating in a research report on Monday, November 4th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, Zimmer Biomet presently has a consensus rating of “Hold” and an average target price of $124.11.

Zimmer Biomet Price Performance

Shares of NYSE ZBH opened at $102.84 on Friday. The stock’s 50-day moving average is $107.56 and its two-hundred day moving average is $108.16. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.36 and a quick ratio of 0.70. The company has a market cap of $20.47 billion, a price-to-earnings ratio of 19.55, a price-to-earnings-growth ratio of 1.88 and a beta of 1.02. Zimmer Biomet has a 1-year low of $100.67 and a 1-year high of $133.90.

Zimmer Biomet (NYSE:ZBH) last announced its quarterly earnings results on Thursday, February 6th. The medical equipment provider reported $2.31 earnings per share (EPS) 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 prior year, the business posted $2.20 earnings per share. Analysts forecast that Zimmer Biomet will post 7.99 EPS for the current fiscal year.

Hedge Funds Weigh In On Zimmer Biomet

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. BLB&B Advisors LLC lifted its holdings in Zimmer Biomet by 2.1% in the third quarter. BLB&B Advisors LLC now owns 4,900 shares of the medical equipment provider’s stock worth $529,000 after purchasing an additional 100 shares during the period. CKW Financial Group lifted its stake in Zimmer Biomet by 11.7% during the fourth quarter. CKW Financial Group now owns 955 shares of the medical equipment provider’s stock valued at $101,000 after purchasing an additional 100 shares during the last quarter. FWG Holdings LLC boosted its holdings in Zimmer Biomet by 2.9% during the third quarter. FWG Holdings LLC now owns 3,591 shares of the medical equipment provider’s stock worth $372,000 after buying an additional 101 shares in the last quarter. Romano Brothers AND Company increased its holdings in shares of Zimmer Biomet by 1.1% in the fourth quarter. Romano Brothers AND Company now owns 9,466 shares of the medical equipment provider’s stock valued at $1,000,000 after buying an additional 102 shares in the last quarter. Finally, Financial Advocates Investment Management lifted its holdings in shares of Zimmer Biomet by 3.5% during the third quarter. Financial Advocates Investment Management now owns 3,053 shares of the medical equipment provider’s stock valued at $330,000 after purchasing an additional 103 shares during the last quarter. 88.89% of the stock is owned by institutional investors.

Zimmer Biomet Company Profile

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.