Zimmer Biomet (NYSE:ZBH) Price Target Cut to $107.00 by Analysts at UBS Group

Zimmer Biomet (NYSE:ZBH) had its price objective decreased by analysts at UBS Group from $112.00 to $107.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm presently has a “sell” rating on the medical equipment provider’s stock. UBS Group’s price objective points to a potential downside of 0.07% from the stock’s current price.

Several other equities analysts have also recently weighed in on ZBH. Piper Sandler cut Zimmer Biomet from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $140.00 to $115.00 in a report on Monday, July 1st. Truist Financial cut their target price on Zimmer Biomet from $130.00 to $117.00 and set a “hold” rating on the stock in a research note on Tuesday, July 16th. Morgan Stanley cut their target price on Zimmer Biomet from $130.00 to $120.00 and set an “equal weight” rating on the stock in a research note on Monday, July 15th. Citigroup cut their target price on Zimmer Biomet from $134.00 to $120.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 10th. Finally, Oppenheimer cut their target price on Zimmer Biomet from $155.00 to $145.00 and set an “outperform” rating on the stock in a research note on Thursday. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $128.72.

Zimmer Biomet Trading Up 1.2 %

ZBH stock traded up $1.27 during midday trading on Thursday, reaching $107.08. The stock had a trading volume of 248,137 shares, compared to its average volume of 1,492,180. The business has a fifty day simple moving average of $109.24 and a two-hundred day simple moving average of $118.78. The company has a quick ratio of 0.80, a current ratio of 1.66 and a debt-to-equity ratio of 0.38. The firm has a market cap of $22.03 billion, a price-to-earnings ratio of 23.18, a PEG ratio of 1.97 and a beta of 1.01. Zimmer Biomet has a twelve month low of $102.00 and a twelve month high of $133.90.

Zimmer Biomet (NYSE:ZBH) last issued its earnings results on Wednesday, August 7th. The medical equipment provider reported $2.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.98 by $0.03. Zimmer Biomet had a return on equity of 12.70% and a net margin of 12.93%. The firm had revenue of $1.94 billion for the quarter, compared to analysts’ expectations of $1.94 billion. During the same quarter last year, the business earned $1.82 earnings per share. The company’s revenue was up 3.9% compared to the same quarter last year. As a group, research analysts expect that Zimmer Biomet will post 8.1 EPS for the current fiscal year.

Institutional Trading of Zimmer Biomet

A number of large investors have recently bought and sold shares of the business. American Century Companies Inc. grew its holdings in Zimmer Biomet by 12.6% during the 2nd quarter. American Century Companies Inc. now owns 6,463,845 shares of the medical equipment provider’s stock worth $701,521,000 after acquiring an additional 722,041 shares during the period. Bahl & Gaynor Inc. grew its holdings in Zimmer Biomet by 3.7% during the 2nd quarter. Bahl & Gaynor Inc. now owns 8,714 shares of the medical equipment provider’s stock worth $946,000 after acquiring an additional 311 shares during the period. Headlands Technologies LLC grew its holdings in Zimmer Biomet by 895.5% during the 2nd quarter. Headlands Technologies LLC now owns 15,131 shares of the medical equipment provider’s stock worth $1,642,000 after acquiring an additional 13,611 shares during the period. Eubel Brady & Suttman Asset Management Inc. grew its holdings in Zimmer Biomet by 2.9% during the 2nd quarter. Eubel Brady & Suttman Asset Management Inc. now owns 229,375 shares of the medical equipment provider’s stock worth $24,894,000 after acquiring an additional 6,372 shares during the period. Finally, Daiwa Securities Group Inc. grew its holdings in Zimmer Biomet by 13.0% during the 2nd quarter. Daiwa Securities Group Inc. now owns 23,515 shares of the medical equipment provider’s stock worth $2,552,000 after acquiring an additional 2,698 shares during the period. 88.89% of the stock is currently owned by institutional investors and hedge funds.

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.