UBS Group Cuts Zimmer Biomet (NYSE:ZBH) Price Target to $107.00

Zimmer Biomet (NYSE:ZBH) had its price target lowered by UBS Group from $112.00 to $107.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has a sell rating on the medical equipment provider’s stock.

A number of other research firms have also recently commented on ZBH. The Goldman Sachs Group assumed coverage on Zimmer Biomet in a report on Thursday, May 30th. They set a neutral rating and a $129.00 price target for the company. Robert W. Baird lowered their target price on Zimmer Biomet from $155.00 to $145.00 and set an outperform rating for the company in a research note on Thursday. Barclays decreased their price target on shares of Zimmer Biomet from $130.00 to $125.00 and set an underweight rating on the stock in a report on Friday, May 31st. Needham & Company LLC reissued a hold rating on shares of Zimmer Biomet in a research note on Thursday. Finally, Truist Financial decreased their target price on shares of Zimmer Biomet from $130.00 to $117.00 and set a hold rating on the stock in a research note on Tuesday, July 16th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Zimmer Biomet presently has an average rating of Hold and an average target price of $127.67.

Zimmer Biomet Trading Down 0.6 %

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

Zimmer Biomet (NYSE:ZBH) last issued its quarterly earnings results on Wednesday, August 7th. The medical equipment provider reported $2.01 earnings per share for the quarter, topping analysts’ consensus estimates of $1.99 by $0.02. Zimmer Biomet had a net margin of 13.25% and a return on equity of 12.86%. The company 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 firm posted $1.82 EPS. The firm’s quarterly revenue was up 3.9% on a year-over-year basis. Analysts predict that Zimmer Biomet will post 8.08 EPS for the current fiscal year.

Institutional Trading of Zimmer Biomet

Several large investors have recently modified their holdings of ZBH. Norges Bank acquired a new stake in Zimmer Biomet in the fourth quarter worth $266,896,000. Price T Rowe Associates Inc. MD grew its stake in shares of Zimmer Biomet by 12.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 10,642,801 shares of the medical equipment provider’s stock valued at $1,404,638,000 after buying an additional 1,215,935 shares during the period. American Century Companies Inc. increased its position in Zimmer Biomet by 12.6% in the 2nd quarter. American Century Companies Inc. now owns 6,463,845 shares of the medical equipment provider’s stock valued at $701,521,000 after buying an additional 722,041 shares in the last quarter. Boston Partners raised its stake in Zimmer Biomet by 26.3% during the 1st quarter. Boston Partners now owns 3,314,939 shares of the medical equipment provider’s stock worth $437,413,000 after buying an additional 691,191 shares during the period. Finally, Van ECK Associates Corp boosted its holdings in Zimmer Biomet by 23.7% in the fourth quarter. Van ECK Associates Corp now owns 2,838,558 shares of the medical equipment provider’s stock worth $345,452,000 after acquiring an additional 543,344 shares in the last quarter. Institutional investors and hedge funds own 88.89% of the company’s stock.

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.