Zimmer Biomet (NYSE:ZBH) Price Target Cut to $120.00

Zimmer Biomet (NYSE:ZBH) had its price target reduced by investment analysts at JPMorgan Chase & Co. from $125.00 to $120.00 in a research report issued to clients and investors on Monday, Benzinga reports. The brokerage currently has a “neutral” rating on the medical equipment provider’s stock. JPMorgan Chase & Co.‘s price target suggests a potential upside of 12.21% from the company’s current price.

Several other equities analysts have also recently commented on the stock. Raymond James dropped their target price on shares of Zimmer Biomet from $138.00 to $128.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Evercore ISI reissued an “in-line” rating and issued a $113.00 price objective on shares of Zimmer Biomet in a research report on Thursday, September 5th. Oppenheimer decreased their target price on Zimmer Biomet from $155.00 to $145.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Wolfe Research started coverage on shares of Zimmer Biomet in a research report on Tuesday, September 10th. They set a “peer perform” rating for the company. Finally, Canaccord Genuity Group decreased their price objective on shares of Zimmer Biomet from $120.00 to $115.00 and set a “hold” rating for the company in a report on Tuesday, September 10th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, Zimmer Biomet has a consensus rating of “Hold” and a consensus price target of $125.17.

Zimmer Biomet Trading Up 0.6 %

Shares of NYSE:ZBH traded up $0.68 during mid-day trading on Monday, hitting $106.94. The company had a trading volume of 281,003 shares, compared to its average volume of 1,481,550. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.29 and a quick ratio of 0.63. The company has a market capitalization of $21.78 billion, a PE ratio of 23.10, a price-to-earnings-growth ratio of 1.92 and a beta of 1.02. The firm has a fifty day moving average price of $109.90 and a 200 day moving average price of $116.03. Zimmer Biomet has a one year low of $102.00 and a one year high of $133.90.

Zimmer Biomet (NYSE:ZBH) last announced its quarterly earnings results on Wednesday, August 7th. The medical equipment provider reported $2.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.99 by $0.02. Zimmer Biomet had a return on equity of 12.86% and a net margin of 13.25%. The business had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.94 billion. During the same quarter in the prior year, the company posted $1.82 earnings per share. Zimmer Biomet’s revenue was up 3.9% compared to the same quarter last year. As a group, research analysts forecast that Zimmer Biomet will post 8.02 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. OLD Point Trust & Financial Services N A bought a new position in Zimmer Biomet in the fourth quarter valued at $26,000. Ables Iannone Moore & Associates Inc. purchased a new stake in Zimmer Biomet in the fourth quarter worth approximately $30,000. Crewe Advisors LLC purchased a new position in shares of Zimmer Biomet during the first quarter worth approximately $31,000. Family Firm Inc. bought a new stake in shares of Zimmer Biomet in the 2nd quarter worth approximately $33,000. Finally, J.Safra Asset Management Corp boosted its stake in shares of Zimmer Biomet by 712.1% in the 1st quarter. J.Safra Asset Management Corp now owns 268 shares of the medical equipment provider’s stock valued at $35,000 after purchasing an additional 235 shares in the last quarter. 88.89% of the stock is currently owned by institutional investors.

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.