Evercore ISI Lowers Zimmer Biomet (NYSE:ZBH) Price Target to $113.00

Zimmer Biomet (NYSE:ZBH) had its price objective cut by Evercore ISI from $115.00 to $113.00 in a research note published on Thursday, Benzinga reports. They currently have an in-line rating on the medical equipment provider’s stock.

A number of other analysts have also recently commented on the company. Barclays reduced their price objective on Zimmer Biomet from $130.00 to $125.00 and set an underweight rating for the company in a research report on Friday, May 31st. Piper Sandler downgraded shares of Zimmer Biomet from an overweight rating to a neutral rating and decreased their price target for the stock from $140.00 to $115.00 in a research report on Monday, July 1st. Truist Financial reduced their price objective on Zimmer Biomet from $130.00 to $117.00 and set a hold rating for the company in a research note on Tuesday, July 16th. Citigroup reduced their price target on Zimmer Biomet from $134.00 to $120.00 and set a neutral rating for the company in a research report on Wednesday, July 10th. Finally, The Goldman Sachs Group assumed coverage on shares of Zimmer Biomet in a report on Thursday, May 30th. They issued a neutral rating and a $129.00 target price for the company. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of Hold and a consensus price target of $127.67.

Zimmer Biomet Stock Down 0.6 %

ZBH stock opened at $108.08 on Thursday. The company has a quick ratio of 0.63, a current ratio of 1.29 and a debt-to-equity ratio of 0.31. The business has a 50 day moving average of $108.98 and a 200 day moving average of $118.58. Zimmer Biomet has a twelve month low of $102.00 and a twelve month high of $133.90. The firm has a market cap of $22.01 billion, a PE ratio of 23.39, a price-to-earnings-growth ratio of 1.88 and a beta of 1.01.

Zimmer Biomet (NYSE:ZBH) last announced its quarterly earnings results on Wednesday, August 7th. The medical equipment provider reported $2.01 earnings per share for the quarter, beating the consensus estimate of $1.99 by $0.02. The company had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.94 billion. Zimmer Biomet had a net margin of 13.25% and a return on equity of 12.86%. The firm’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same quarter last year, the firm earned $1.82 earnings per share. On average, research analysts forecast that Zimmer Biomet will post 8.08 EPS for the current fiscal year.

Institutional Investors Weigh In On Zimmer Biomet

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. OLD Point Trust & Financial Services N A acquired a new stake in shares of Zimmer Biomet during the 4th quarter worth approximately $26,000. Ables Iannone Moore & Associates Inc. purchased a new position in shares of Zimmer Biomet during the 4th quarter valued at approximately $30,000. Crewe Advisors LLC acquired a new stake in Zimmer Biomet in the 1st quarter valued at $31,000. Family Firm Inc. purchased a new stake in Zimmer Biomet in the 2nd quarter worth $33,000. Finally, Naples Money Management LLC acquired a new position in Zimmer Biomet during the fourth quarter worth $35,000. 88.89% of the stock is 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.