Zimmer Biomet (NYSE:ZBH) Given New $125.00 Price Target at Royal Bank of Canada

Zimmer Biomet (NYSE:ZBH) had its price objective cut by Royal Bank of Canada from $130.00 to $125.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has an “outperform” rating on the medical equipment provider’s stock. Royal Bank of Canada’s price objective indicates a potential upside of 23.75% from the stock’s current price.

ZBH has been the subject of several other reports. Wells Fargo & Company upped their target price on Zimmer Biomet from $110.00 to $117.00 and gave the company an “equal weight” rating in a report on Thursday, October 31st. Raymond James lowered their target price on Zimmer Biomet from $126.00 to $119.00 and set an “outperform” rating on the stock in a research note on Friday. Oppenheimer reduced their price target on shares of Zimmer Biomet from $145.00 to $135.00 and set an “outperform” rating for the company in a research report on Tuesday, October 15th. Barclays lowered their price objective on shares of Zimmer Biomet from $125.00 to $118.00 and set an “underweight” rating on the stock in a research report on Thursday, December 12th. Finally, JPMorgan Chase & Co. raised shares of Zimmer Biomet from a “neutral” rating to an “overweight” rating and increased their target price for the company from $125.00 to $128.00 in a research report on Tuesday, December 17th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and ten have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $124.70.

Zimmer Biomet Stock Down 1.6 %

Shares of Zimmer Biomet stock traded down $1.68 on Friday, hitting $101.01. The company had a trading volume of 2,044,780 shares, compared to its average volume of 1,806,134. The stock has a 50 day moving average of $107.56 and a 200-day moving average of $108.16. Zimmer Biomet has a 1 year low of $99.93 and a 1 year high of $133.90. The stock has a market capitalization of $20.11 billion, a price-to-earnings ratio of 19.19, a P/E/G ratio of 1.88 and a beta of 1.02. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.70 and a current ratio of 1.36.

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

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Daiwa Securities Group Inc. lifted its stake in Zimmer Biomet by 6.0% in the fourth quarter. Daiwa Securities Group Inc. now owns 26,630 shares of the medical equipment provider’s stock worth $2,813,000 after acquiring an additional 1,497 shares during the period. FWG Holdings LLC lifted its position in shares of Zimmer Biomet by 3.5% in the 4th quarter. FWG Holdings LLC now owns 3,715 shares of the medical equipment provider’s stock worth $402,000 after purchasing an additional 124 shares during the period. OFI Invest Asset Management bought a new stake in shares of Zimmer Biomet during the 4th quarter valued at about $40,000. Dorsey & Whitney Trust CO LLC increased its position in shares of Zimmer Biomet by 2.3% during the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 4,594 shares of the medical equipment provider’s stock valued at $485,000 after buying an additional 102 shares during the period. Finally, Larson Financial Group LLC raised its stake in Zimmer Biomet by 10.6% in the fourth quarter. Larson Financial Group LLC now owns 3,769 shares of the medical equipment provider’s stock worth $398,000 after buying an additional 362 shares in the last quarter. Hedge funds and other 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.