Citigroup Raises Zimmer Biomet (NYSE:ZBH) Price Target to $140.00

Zimmer Biomet (NYSE:ZBHGet Free Report) had its price target lifted by research analysts at Citigroup from $134.00 to $140.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage presently has a “neutral” rating on the medical equipment provider’s stock. Citigroup’s price objective indicates a potential upside of 8.11% from the stock’s current price.

Several other equities research analysts have also issued reports on the stock. TheStreet raised shares of Zimmer Biomet from a “c” rating to a “b-” rating in a research report on Thursday, February 8th. Barclays upped their target price on shares of Zimmer Biomet from $120.00 to $130.00 and gave the company an “underweight” rating in a research note on Monday, February 12th. Royal Bank of Canada restated an “outperform” rating and issued a $140.00 target price on shares of Zimmer Biomet in a research note on Friday, February 9th. Raymond James upped their target price on shares of Zimmer Biomet from $133.00 to $137.00 and gave the company an “outperform” rating in a research note on Wednesday, January 3rd. Finally, Evercore ISI downgraded shares of Zimmer Biomet from an “outperform” rating to an “inline” rating and decreased their target price for the company from $135.00 to $125.00 in a research note on Thursday, January 4th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $139.11.

Get Our Latest Analysis on ZBH

Zimmer Biomet Trading Up 0.8 %

Shares of ZBH traded up $1.03 on Wednesday, hitting $129.50. 182,152 shares of the stock traded hands, compared to its average volume of 1,520,606. Zimmer Biomet has a 1 year low of $102.00 and a 1 year high of $149.25. The company has a quick ratio of 0.78, a current ratio of 1.61 and a debt-to-equity ratio of 0.39. The stock’s 50 day moving average is $126.09 and its two-hundred day moving average is $118.36. The firm has a market capitalization of $26.61 billion, a P/E ratio of 26.48, a P/E/G ratio of 2.38 and a beta of 1.01.

Zimmer Biomet (NYSE:ZBHGet Free Report) last issued its quarterly earnings results on Thursday, February 8th. The medical equipment provider reported $2.20 EPS for the quarter, topping the consensus estimate of $2.15 by $0.05. Zimmer Biomet had a net margin of 13.85% and a return on equity of 12.79%. The firm had revenue of $1.94 billion during the quarter, compared to analyst estimates of $1.93 billion. During the same quarter in the prior year, the business posted $1.88 earnings per share. Zimmer Biomet’s revenue for the quarter was up 6.3% compared to the same quarter last year. As a group, sell-side analysts predict that Zimmer Biomet will post 8.07 earnings per share for the current year.

Insider Transactions at Zimmer Biomet

In other news, VP Chad F. Phipps sold 26,156 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $128.62, for a total value of $3,364,184.72. Following the transaction, the vice president now directly owns 44,145 shares in the company, valued at approximately $5,677,929.90. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.95% of the company’s stock.

Institutional Trading of Zimmer Biomet

A number of large investors have recently modified their holdings of the company. PFG Advisors increased its holdings in shares of Zimmer Biomet by 4.6% in the 4th quarter. PFG Advisors now owns 1,899 shares of the medical equipment provider’s stock worth $231,000 after acquiring an additional 84 shares during the period. Bradley Foster & Sargent Inc. CT increased its holdings in shares of Zimmer Biomet by 1.3% in the 4th quarter. Bradley Foster & Sargent Inc. CT now owns 6,452 shares of the medical equipment provider’s stock worth $823,000 after acquiring an additional 85 shares during the period. Quent Capital LLC increased its holdings in shares of Zimmer Biomet by 21.6% in the 4th quarter. Quent Capital LLC now owns 518 shares of the medical equipment provider’s stock worth $63,000 after acquiring an additional 92 shares during the period. Chicago Partners Investment Group LLC increased its holdings in shares of Zimmer Biomet by 3.3% in the 4th quarter. Chicago Partners Investment Group LLC now owns 2,894 shares of the medical equipment provider’s stock worth $349,000 after acquiring an additional 92 shares during the period. Finally, Pinnacle Associates Ltd. increased its stake in Zimmer Biomet by 5.0% during the 3rd quarter. Pinnacle Associates Ltd. now owns 2,020 shares of the medical equipment provider’s stock valued at $227,000 after buying an additional 97 shares during the period. Institutional investors and hedge funds own 88.89% of the company’s stock.

Zimmer Biomet Company Profile

(Get Free Report)

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.

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