Zimmer Biomet (NYSE:ZBH) Price Target Cut to $93.00 by Analysts at Canaccord Genuity Group

Zimmer Biomet (NYSE:ZBH) had its price target lowered by Canaccord Genuity Group from $101.00 to $93.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has a “hold” rating on the medical equipment provider’s stock. Canaccord Genuity Group’s price objective would indicate a potential upside of 5.05% from the company’s previous close.

ZBH has been the subject of a number of other reports. Stifel Nicolaus set a $110.00 target price on Zimmer Biomet in a research report on Wednesday. Royal Bank Of Canada decreased their target price on Zimmer Biomet from $111.00 to $101.00 and set an “outperform” rating for the company in a research note on Thursday. Barclays dropped their price target on shares of Zimmer Biomet from $112.00 to $105.00 and set an “underweight” rating on the stock in a research report on Wednesday, November 5th. Wall Street Zen upgraded shares of Zimmer Biomet from a “hold” rating to a “buy” rating in a research report on Saturday. Finally, Evercore ISI dropped their target price on shares of Zimmer Biomet from $106.00 to $104.00 and set an “in-line” rating on the stock in a report on Tuesday, October 7th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, Zimmer Biomet presently has a consensus rating of “Hold” and an average price target of $109.00.

Zimmer Biomet Stock Performance

Shares of ZBH traded up $0.03 during trading hours on Monday, reaching $88.53. 2,458,029 shares of the company’s stock traded hands, compared to its average volume of 1,936,580. Zimmer Biomet has a twelve month low of $85.33 and a twelve month high of $114.72. The business’s fifty day simple moving average is $100.15 and its two-hundred day simple moving average is $97.47. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.87 and a quick ratio of 0.96. The firm has a market capitalization of $17.55 billion, a price-to-earnings ratio of 21.54, a P/E/G ratio of 2.29 and a beta of 0.67.

Zimmer Biomet (NYSE:ZBH) last announced its earnings results on Wednesday, November 5th. The medical equipment provider reported $1.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.88 by $0.02. Zimmer Biomet had a net margin of 10.51% and a return on equity of 12.76%. The firm had revenue of $2 billion during the quarter, compared to analyst estimates of $2.01 billion. During the same quarter in the prior year, the firm posted $1.74 EPS. Zimmer Biomet’s revenue was up 9.6% compared to the same quarter last year. Zimmer Biomet has set its FY 2025 guidance at 8.100-8.300 EPS. Analysts predict that Zimmer Biomet will post 8.22 earnings per share for the current year.

Insider Activity at Zimmer Biomet

In related news, SVP Lori Winkler sold 1,500 shares of the company’s stock in a transaction on Monday, September 8th. The stock was sold at an average price of $104.15, for a total transaction of $156,225.00. Following the transaction, the senior vice president directly owned 6,833 shares of the company’s stock, valued at approximately $711,656.95. The trade was a 18.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.39% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Zimmer Biomet

A number of hedge funds have recently added to or reduced their stakes in ZBH. Legacy Wealth Asset Management LLC grew its position in Zimmer Biomet by 2.3% in the third quarter. Legacy Wealth Asset Management LLC now owns 4,670 shares of the medical equipment provider’s stock worth $460,000 after acquiring an additional 106 shares in the last quarter. Global Retirement Partners LLC increased its position in Zimmer Biomet by 7.0% during the third quarter. Global Retirement Partners LLC now owns 1,686 shares of the medical equipment provider’s stock worth $166,000 after buying an additional 111 shares during the last quarter. Cullen Frost Bankers Inc. raised its holdings in Zimmer Biomet by 66.7% during the third quarter. Cullen Frost Bankers Inc. now owns 290 shares of the medical equipment provider’s stock valued at $29,000 after buying an additional 116 shares in the last quarter. Generali Asset Management SPA SGR lifted its position in shares of Zimmer Biomet by 0.9% in the third quarter. Generali Asset Management SPA SGR now owns 14,232 shares of the medical equipment provider’s stock worth $1,402,000 after buying an additional 122 shares during the last quarter. Finally, Brookstone Capital Management boosted its stake in shares of Zimmer Biomet by 1.3% during the 3rd quarter. Brookstone Capital Management now owns 9,350 shares of the medical equipment provider’s stock worth $921,000 after acquiring an additional 123 shares in the last quarter. Institutional investors and hedge funds 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.