Morgan Stanley Trims Zimmer Biomet Holdings, Inc. (ZBH) Target Price to $136.00

Zimmer Biomet Holdings, Inc. (NYSE:ZBH) had its target price lowered by research analysts at Morgan Stanley from $146.00 to $136.00 in a report released on Thursday. The firm presently has an “overweight” rating on the medical equipment provider’s stock. Morgan Stanley’s price objective indicates a potential upside of 11.82% from the stock’s current price.

ZBH has been the topic of a number of other research reports. BMO Capital Markets reissued a “buy” rating and set a $136.00 price target on shares of Zimmer Biomet Holdings in a research report on Tuesday, July 11th. Guggenheim raised Zimmer Biomet Holdings from a “neutral” rating to a “buy” rating and set a $157.00 price target on the stock in a research report on Wednesday, July 12th. Needham & Company LLC reissued a “strong-buy” rating and set a $153.00 price target on shares of Zimmer Biomet Holdings in a research report on Wednesday, July 12th. Canaccord Genuity reissued a “buy” rating and set a $141.00 price target on shares of Zimmer Biomet Holdings in a research report on Friday, July 14th. Finally, Royal Bank Of Canada reissued an “outperform” rating and set a $140.00 price target on shares of Zimmer Biomet Holdings in a research report on Friday, July 14th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $135.60.

Zimmer Biomet Holdings (NYSE:ZBH) last released its earnings results on Wednesday, November 1st. The medical equipment provider reported $1.72 earnings per share for the quarter, missing analysts’ consensus estimates of $1.74 by ($0.02). Zimmer Biomet Holdings had a return on equity of 16.70% and a net margin of 9.12%. The business had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $1.83 billion. During the same quarter in the previous year, the business earned $1.79 EPS. The business’s revenue for the quarter was down .8% on a year-over-year basis.

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Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Bronfman E.L. Rothschild L.P. grew its stake in Zimmer Biomet Holdings by 25.3% during the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 827 shares of the medical equipment provider’s stock worth $106,000 after purchasing an additional 167 shares in the last quarter. Parkside Financial Bank & Trust grew its stake in Zimmer Biomet Holdings by 3.9% during the 2nd quarter. Parkside Financial Bank & Trust now owns 872 shares of the medical equipment provider’s stock worth $112,000 after purchasing an additional 33 shares in the last quarter. Parallel Advisors LLC grew its stake in Zimmer Biomet Holdings by 20.8% during the 1st quarter. Parallel Advisors LLC now owns 1,157 shares of the medical equipment provider’s stock worth $138,000 after purchasing an additional 199 shares in the last quarter. IHT Wealth Management LLC grew its stake in Zimmer Biomet Holdings by 28.4% during the 1st quarter. IHT Wealth Management LLC now owns 1,158 shares of the medical equipment provider’s stock worth $139,000 after purchasing an additional 256 shares in the last quarter. Finally, BB&T Investment Services Inc. acquired a new position in Zimmer Biomet Holdings during the 2nd quarter worth $144,000. 85.26% of the stock is owned by hedge funds and other institutional investors.

About Zimmer Biomet Holdings

Zimmer Biomet Holdings, Inc is engaged in designing, manufacturing and marketing of orthopedic reconstructive products; sports medicine, biologics, extremities and trauma products; office-based technologies; spine, craniomaxillofacial and thoracic products; dental implants, and related surgical products.

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