Royal Bank of Canada Boosts Zimmer Biomet (NYSE:ZBH) Price Target to $125.00

Zimmer Biomet (NYSE:ZBH) had its price target hoisted by equities researchers at Royal Bank of Canada from $120.00 to $125.00 in a research note issued on Monday, Benzinga reports. The firm currently has an “outperform” rating on the medical equipment provider’s stock. Royal Bank of Canada’s target price points to a potential upside of 15.51% from the company’s previous close.

A number of other research analysts have also issued reports on the company. Oppenheimer decreased their target price on Zimmer Biomet from $145.00 to $135.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 15th. Raymond James decreased their price objective on Zimmer Biomet from $128.00 to $123.00 and set an “outperform” rating on the stock in a report on Monday, October 14th. Morgan Stanley decreased their price objective on Zimmer Biomet from $130.00 to $120.00 and set an “equal weight” rating on the stock in a report on Monday, July 15th. TD Cowen decreased their price objective on Zimmer Biomet from $143.00 to $119.00 and set a “hold” rating on the stock in a report on Friday, September 6th. Finally, Wells Fargo & Company raised their price objective on Zimmer Biomet from $110.00 to $117.00 and gave the company an “equal weight” rating in a report on Thursday. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $124.11.

Zimmer Biomet Stock Performance

Shares of NYSE ZBH traded up $0.95 during midday trading on Monday, reaching $108.22. 438,206 shares of the stock were exchanged, compared to its average volume of 1,486,494. The firm has a market cap of $21.54 billion, a price-to-earnings ratio of 20.46, a PEG ratio of 1.96 and a beta of 1.02. Zimmer Biomet has a twelve month low of $101.47 and a twelve month high of $133.90. The firm has a 50-day simple moving average of $106.96 and a two-hundred day simple moving average of $110.73. The company has a quick ratio of 0.63, a current ratio of 1.36 and a debt-to-equity ratio of 0.38.

Zimmer Biomet (NYSE:ZBH) last issued its quarterly earnings data on Wednesday, October 30th. The medical equipment provider reported $1.74 EPS for the quarter, hitting analysts’ consensus estimates of $1.74. Zimmer Biomet had a net margin of 14.27% and a return on equity of 12.95%. The business had revenue of $1.82 billion for the quarter, compared to analysts’ expectations of $1.80 billion. During the same quarter last year, the company earned $1.65 EPS. The business’s revenue was up 4.1% on a year-over-year basis. As a group, analysts anticipate that Zimmer Biomet will post 7.99 EPS for the current fiscal year.

Institutional Investors Weigh In On Zimmer Biomet

A number of hedge funds have recently bought and sold shares of ZBH. Crewe Advisors LLC acquired a new position in shares of Zimmer Biomet in the 1st quarter worth approximately $31,000. Bangor Savings Bank acquired a new position in Zimmer Biomet during the 3rd quarter worth $31,000. Family Firm Inc. acquired a new position in Zimmer Biomet during the 2nd quarter worth $33,000. J.Safra Asset Management Corp boosted its position in Zimmer Biomet by 712.1% during the 1st quarter. J.Safra Asset Management Corp now owns 268 shares of the medical equipment provider’s stock worth $35,000 after acquiring an additional 235 shares during the period. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new position in Zimmer Biomet during the 2nd quarter worth $43,000. Institutional investors and hedge funds own 88.89% of the company’s stock.

Zimmer Biomet Company Profile

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.