JPMorgan Chase & Co. Lowers Zimmer Biomet (NYSE:ZBH) Price Target to $105.00

Zimmer Biomet (NYSE:ZBH) had its target price dropped by equities researchers at JPMorgan Chase & Co. from $128.00 to $105.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage currently has an “overweight” rating on the medical equipment provider’s stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 15.84% from the company’s current price.

Other equities research analysts have also issued reports about the stock. JMP Securities restated a “market outperform” rating and set a $140.00 target price on shares of Zimmer Biomet in a research report on Friday, February 7th. BTIG Research restated a “buy” rating on shares of Zimmer Biomet in a research report on Monday, April 14th. Wells Fargo & Company decreased their price target on Zimmer Biomet from $113.00 to $98.00 and set an “equal weight” rating on the stock in a research note on Tuesday. Truist Financial reaffirmed a “hold” rating and issued a $113.00 price objective (down from $118.00) on shares of Zimmer Biomet in a research note on Monday, February 10th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Zimmer Biomet in a research report on Friday, February 7th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $119.40.

Zimmer Biomet Stock Up 0.2 %

Zimmer Biomet stock traded up $0.17 during midday trading on Tuesday, reaching $90.65. The company’s stock had a trading volume of 799,504 shares, compared to its average volume of 1,681,200. The business has a 50-day simple moving average of $105.24 and a 200-day simple moving average of $106.42. The company has a market cap of $17.93 billion, a P/E ratio of 20.40, a P/E/G ratio of 1.95 and a beta of 0.78. Zimmer Biomet has a fifty-two week low of $89.92 and a fifty-two week high of $122.25. The company has a quick ratio of 0.99, a current ratio of 1.91 and a debt-to-equity ratio of 0.43.

Zimmer Biomet (NYSE:ZBH) last issued its quarterly earnings data on Monday, May 5th. The medical equipment provider reported $1.81 earnings per share for the quarter, topping the consensus estimate of $1.77 by $0.04. The business had revenue of $1.91 billion during the quarter, compared to the consensus estimate of $1.89 billion. Zimmer Biomet had a net margin of 11.77% and a return on equity of 12.99%. The company’s revenue was up 1.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.94 EPS. On average, research analysts expect that Zimmer Biomet will post 8.22 earnings per share for the current fiscal year.

Insider Activity at Zimmer Biomet

In other Zimmer Biomet news, SVP Lori Winkler sold 1,443 shares of the company’s stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $104.40, for a total transaction of $150,649.20. Following the sale, the senior vice president now owns 8,768 shares in the company, valued at $915,379.20. This represents a 14.13 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.95% of the company’s stock.

Hedge Funds Weigh In On Zimmer Biomet

A number of large investors have recently bought and sold shares of ZBH. United Bank increased its holdings in shares of Zimmer Biomet by 14.0% in the 1st quarter. United Bank now owns 10,743 shares of the medical equipment provider’s stock worth $1,216,000 after acquiring an additional 1,317 shares during the period. Lindbrook Capital LLC boosted its holdings in shares of Zimmer Biomet by 368.6% in the first quarter. Lindbrook Capital LLC now owns 1,940 shares of the medical equipment provider’s stock valued at $220,000 after acquiring an additional 1,526 shares in the last quarter. Teachers Retirement System of The State of Kentucky raised its holdings in Zimmer Biomet by 2.1% during the first quarter. Teachers Retirement System of The State of Kentucky now owns 15,368 shares of the medical equipment provider’s stock worth $1,739,000 after purchasing an additional 314 shares in the last quarter. South Dakota Investment Council lifted its position in Zimmer Biomet by 1.9% in the first quarter. South Dakota Investment Council now owns 82,386 shares of the medical equipment provider’s stock worth $9,324,000 after purchasing an additional 1,500 shares during the period. Finally, Kestra Private Wealth Services LLC increased its position in shares of Zimmer Biomet by 83.8% during the 1st quarter. Kestra Private Wealth Services LLC now owns 3,539 shares of the medical equipment provider’s stock valued at $401,000 after purchasing an additional 1,614 shares during the period. 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.