Stifel Nicolaus Issues Positive Forecast for Zimmer Biomet (NYSE:ZBH) Stock Price

Zimmer Biomet (NYSE:ZBH) had its price target boosted by stock analysts at Stifel Nicolaus from $130.00 to $138.00 in a report issued on Thursday,Benzinga reports. The firm currently has a “buy” rating on the medical equipment provider’s stock. Stifel Nicolaus’ price target points to a potential upside of 25.24% from the company’s current price.

Several other brokerages have also recently weighed in on ZBH. Needham & Company LLC restated a “hold” rating on shares of Zimmer Biomet in a research note on Thursday, October 31st. Truist Financial boosted their price target on shares of Zimmer Biomet from $117.00 to $118.00 and gave the stock a “hold” rating in a report on Wednesday, December 18th. Wells Fargo & Company raised their price objective on shares of Zimmer Biomet from $110.00 to $117.00 and gave the stock an “equal weight” rating in a report on Thursday, October 31st. Royal Bank of Canada increased their target price on shares of Zimmer Biomet from $120.00 to $125.00 and gave the company an “outperform” rating in a research report on Monday, November 4th. Finally, Raymond James dropped their price objective on Zimmer Biomet from $128.00 to $123.00 and set an “outperform” rating on the stock in a research note on Monday, October 14th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, Zimmer Biomet presently has an average rating of “Hold” and a consensus price target of $124.11.

Zimmer Biomet Trading Up 0.4 %

ZBH traded up $0.47 during trading on Thursday, reaching $110.19. 247,267 shares of the company’s stock were exchanged, compared to its average volume of 1,662,816. The stock has a market capitalization of $21.94 billion, a PE ratio of 20.95, a price-to-earnings-growth ratio of 1.89 and a beta of 1.02. Zimmer Biomet has a one year low of $100.67 and a one year high of $133.90. The company has a current ratio of 1.36, a quick ratio of 0.70 and a debt-to-equity ratio of 0.38. The firm has a fifty day moving average price of $107.85 and a two-hundred day moving average price of $108.07.

Zimmer Biomet (NYSE:ZBH) last released its earnings results on Wednesday, October 30th. The medical equipment provider reported $1.74 earnings per share (EPS) for the quarter, meeting the consensus estimate 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 analyst estimates of $1.80 billion. During the same quarter in the previous year, the business earned $1.65 earnings per share. Zimmer Biomet’s revenue for the quarter was up 4.1% on a year-over-year basis. As a group, equities research analysts forecast that Zimmer Biomet will post 7.99 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Zimmer Biomet

Institutional investors and hedge funds have recently modified their holdings of the stock. Dunhill Financial LLC increased its holdings in shares of Zimmer Biomet by 1,090.0% during the third quarter. Dunhill Financial LLC now owns 238 shares of the medical equipment provider’s stock valued at $26,000 after acquiring an additional 218 shares in the last quarter. Ashton Thomas Securities LLC purchased a new stake in Zimmer Biomet during the 3rd quarter valued at $28,000. Bangor Savings Bank purchased a new position in shares of Zimmer Biomet in the third quarter worth $31,000. Brooklyn Investment Group purchased a new stake in shares of Zimmer Biomet during the third quarter valued at $35,000. Finally, Quarry LP purchased a new position in Zimmer Biomet in the 2nd quarter worth about $53,000. 88.89% of the stock is owned by hedge funds and other institutional investors.

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.