Zimmer Biomet’s (ZBH) Hold Rating Reaffirmed at Truist Financial

Zimmer Biomet (NYSE:ZBH)‘s stock had its “hold” rating reaffirmed by research analysts at Truist Financial in a research report issued on Thursday, Benzinga reports. They presently have a $117.00 price target on the medical equipment provider’s stock. Truist Financial’s price target indicates a potential upside of 11.02% from the stock’s current price.

Several other brokerages have also recently issued reports on ZBH. Evercore ISI cut their target price on shares of Zimmer Biomet from $115.00 to $113.00 and set an “in-line” rating on the stock in a report on Thursday, August 8th. UBS Group decreased their price objective on shares of Zimmer Biomet from $112.00 to $107.00 and set a “sell” rating on the stock in a research report on Thursday, August 8th. Argus upgraded shares of Zimmer Biomet from a “hold” rating to a “buy” rating and set a $150.00 target price for the company in a report on Tuesday, May 21st. Oppenheimer reduced their price target on Zimmer Biomet from $155.00 to $145.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Finally, Canaccord Genuity Group dropped their price objective on Zimmer Biomet from $130.00 to $120.00 and set a “hold” rating for the company in a report on Tuesday, August 20th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $126.41.

Zimmer Biomet Price Performance

ZBH traded down $9.09 on Thursday, reaching $105.39. The company had a trading volume of 2,617,256 shares, compared to its average volume of 1,467,350. Zimmer Biomet has a 52-week low of $102.00 and a 52-week high of $133.90. The company has a market cap of $21.68 billion, a price-to-earnings ratio of 22.81, a P/E/G ratio of 2.06 and a beta of 1.01. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.63 and a current ratio of 1.29. The business has a 50 day simple moving average of $110.19 and a 200 day simple moving average of $117.16.

Zimmer Biomet (NYSE:ZBH) last released its quarterly earnings results on Wednesday, August 7th. The medical equipment provider reported $2.01 earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $1.94 billion. During the same quarter last year, the business posted $1.82 earnings per share. The company’s revenue for the quarter was up 3.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Zimmer Biomet will post 8.06 EPS for the current year.

Institutional Investors Weigh In On Zimmer Biomet

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Price T Rowe Associates Inc. MD boosted its holdings in shares of Zimmer Biomet by 12.9% during 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 purchasing an additional 1,215,935 shares during the last quarter. American Century Companies Inc. grew its holdings in Zimmer Biomet by 12.6% during 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. Primecap Management Co. CA increased its stake in Zimmer Biomet by 10.5% in the 4th quarter. Primecap Management Co. CA now owns 5,086,578 shares of the medical equipment provider’s stock worth $619,037,000 after acquiring an additional 484,151 shares during the last quarter. Victory Capital Management Inc. raised its holdings in shares of Zimmer Biomet by 6.7% during the 2nd quarter. Victory Capital Management Inc. now owns 3,364,624 shares of the medical equipment provider’s stock worth $365,163,000 after acquiring an additional 211,637 shares in the last quarter. Finally, Van ECK Associates Corp boosted its position in shares of Zimmer Biomet by 5.3% during the 2nd quarter. Van ECK Associates Corp now owns 3,325,598 shares of the medical equipment provider’s stock valued at $360,927,000 after acquiring an additional 167,038 shares during the last quarter. 88.89% of the stock is 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.