Zimmer Biomet (NYSE:ZBH) Earns Hold Rating from Needham & Company LLC

Zimmer Biomet (NYSE:ZBH)‘s stock had its “hold” rating restated by investment analysts at Needham & Company LLC in a report issued on Thursday, Benzinga reports.

ZBH has been the topic of several other research reports. Evercore ISI boosted their target price on shares of Zimmer Biomet from $125.00 to $130.00 and gave the company an “in-line” rating in a report on Thursday, April 4th. Citigroup boosted their target price on shares of Zimmer Biomet from $134.00 to $140.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 3rd. Canaccord Genuity Group reissued a “hold” rating and set a $130.00 target price on shares of Zimmer Biomet in a research report on Friday, February 23rd. Raymond James boosted their target price on shares of Zimmer Biomet from $133.00 to $137.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 3rd. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $140.00 target price on shares of Zimmer Biomet in a research report on Friday, February 9th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, Zimmer Biomet currently has a consensus rating of “Hold” and an average target price of $139.39.

Zimmer Biomet Price Performance

Shares of Zimmer Biomet stock traded down $1.32 during trading on Thursday, reaching $118.24. 1,367,847 shares of the company’s stock were exchanged, compared to its average volume of 1,457,820. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.78 and a current ratio of 1.61. Zimmer Biomet has a 1-year low of $102.00 and a 1-year high of $147.50. The company has a market cap of $24.29 billion, a P/E ratio of 24.26, a PEG ratio of 2.21 and a beta of 1.03. The firm’s 50-day moving average price is $125.65 and its 200 day moving average price is $119.91.

Zimmer Biomet (NYSE:ZBH) last issued its earnings results on Thursday, May 2nd. The medical equipment provider reported $1.94 earnings per share for the quarter, beating analysts’ consensus estimates of $1.87 by $0.07. The firm had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.87 billion. Zimmer Biomet had a net margin of 13.85% and a return on equity of 12.79%. The company’s quarterly revenue was up 3.2% on a year-over-year basis. During the same quarter last year, the business posted $1.89 earnings per share. As a group, research analysts anticipate that Zimmer Biomet will post 8.08 earnings per share for the current year.

Insiders Place Their Bets

In other news, VP Chad F. Phipps sold 26,156 shares of the firm’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $128.62, for a total transaction of $3,364,184.72. Following the sale, the vice president now owns 44,145 shares in the company, valued at approximately $5,677,929.90. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.95% of the company’s stock.

Hedge Funds Weigh In On Zimmer Biomet

Several institutional investors and hedge funds have recently made changes to their positions in ZBH. OLD Point Trust & Financial Services N A bought a new position in shares of Zimmer Biomet during the 4th quarter valued at $26,000. Ables Iannone Moore & Associates Inc. bought a new stake in Zimmer Biomet in the 4th quarter worth $30,000. Naples Money Management LLC bought a new stake in Zimmer Biomet in the 4th quarter worth $35,000. Activest Wealth Management grew its holdings in Zimmer Biomet by 410.4% in the 4th quarter. Activest Wealth Management now owns 342 shares of the medical equipment provider’s stock worth $42,000 after acquiring an additional 275 shares during the last quarter. Finally, Peoples Bank KS bought a new stake in Zimmer Biomet in the 3rd quarter worth $48,000. Institutional investors own 88.89% of the company’s stock.

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.