Zimmer Biomet (NYSE:ZBH) Upgraded to “Overweight” at JPMorgan Chase & Co.

Zimmer Biomet (NYSE:ZBH) was upgraded by investment analysts at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has a $128.00 target price on the medical equipment provider’s stock, up from their prior target price of $125.00. JPMorgan Chase & Co.‘s price objective would indicate a potential upside of 19.79% from the company’s previous close.

Several other equities research analysts have also issued reports on ZBH. Raymond James dropped their price objective on Zimmer Biomet from $128.00 to $123.00 and set an “outperform” rating for the company in a research note on Monday, October 14th. Canaccord Genuity Group lowered their price target on Zimmer Biomet from $120.00 to $115.00 and set a “hold” rating on the stock in a research report on Tuesday, September 10th. Barclays lowered their price target on Zimmer Biomet from $125.00 to $118.00 and set an “underweight” rating on the stock in a research report on Thursday, December 12th. Truist Financial raised their price target on Zimmer Biomet from $112.00 to $117.00 and gave the company a “hold” rating in a research report on Friday, November 1st. 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 research analysts have rated the stock with a sell rating, eleven have issued a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $123.28.

Zimmer Biomet Price Performance

NYSE:ZBH opened at $106.85 on Tuesday. The firm has a market capitalization of $21.27 billion, a price-to-earnings ratio of 20.31, a P/E/G ratio of 1.96 and a beta of 1.02. Zimmer Biomet has a 52-week low of $101.47 and a 52-week high of $133.90. The stock has a fifty day moving average of $107.78 and a 200 day moving average of $108.60. 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 posted its quarterly earnings data on Wednesday, October 30th. The medical equipment provider reported $1.74 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.74. The company had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.80 billion. Zimmer Biomet had a return on equity of 12.95% and a net margin of 14.27%. The firm’s quarterly revenue was up 4.1% on a year-over-year basis. During the same quarter last year, the company earned $1.65 earnings per share. On average, research analysts expect that Zimmer Biomet will post 7.99 EPS for the current fiscal year.

Institutional Trading of Zimmer Biomet

Large investors have recently bought and sold shares of the company. Dunhill Financial LLC boosted its position in Zimmer Biomet by 1,090.0% during the 3rd quarter. Dunhill Financial LLC now owns 238 shares of the medical equipment provider’s stock valued at $26,000 after acquiring an additional 218 shares in the last quarter. Ashton Thomas Securities LLC bought a new stake in Zimmer Biomet during the 3rd quarter valued at approximately $28,000. Bangor Savings Bank bought a new stake in Zimmer Biomet during the 3rd quarter valued at approximately $31,000. Family Firm Inc. bought a new stake in Zimmer Biomet during the 2nd quarter valued at approximately $33,000. Finally, Brooklyn Investment Group bought a new stake in Zimmer Biomet during the 3rd quarter valued at approximately $35,000. 88.89% of the stock is 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.