Evercore ISI Lowers Zimmer Biomet (NYSE:ZBH) Price Target to $115.00

Zimmer Biomet (NYSE:ZBH) had its target price reduced by equities researchers at Evercore ISI from $130.00 to $115.00 in a report issued on Tuesday, Benzinga reports. The brokerage currently has an “in-line” rating on the medical equipment provider’s stock. Evercore ISI’s price target suggests a potential upside of 7.91% from the stock’s previous close.

A number of other research firms also recently weighed in on ZBH. Citigroup lifted their price objective on Zimmer Biomet from $134.00 to $140.00 and gave the company a “neutral” rating in a report on Wednesday, April 3rd. Barclays lowered their price target on Zimmer Biomet from $130.00 to $125.00 and set an “underweight” rating on the stock in a research report on Friday, May 31st. Needham & Company LLC reissued a “hold” rating on shares of Zimmer Biomet in a report on Thursday, May 30th. Piper Sandler downgraded shares of Zimmer Biomet from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $140.00 to $115.00 in a research note on Monday. Finally, Truist Financial dropped their target price on shares of Zimmer Biomet from $137.00 to $130.00 and set a “hold” rating for the company in a research report on Friday, May 3rd. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $131.76.

Zimmer Biomet Stock Performance

ZBH opened at $106.57 on Tuesday. The stock’s 50 day simple moving average is $114.69 and its 200-day simple moving average is $121.05. The company has a current ratio of 1.66, a quick ratio of 0.80 and a debt-to-equity ratio of 0.38. The stock has a market cap of $21.92 billion, a PE ratio of 23.07, a P/E/G ratio of 1.95 and a beta of 1.01. Zimmer Biomet has a 1 year low of $102.00 and a 1 year high of $144.13.

Zimmer Biomet (NYSE:ZBH) last announced its quarterly earnings results on Thursday, May 2nd. The medical equipment provider reported $1.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.87 by $0.07. Zimmer Biomet had a net margin of 12.93% and a return on equity of 12.70%. The firm had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.87 billion. During the same quarter in the previous year, the firm posted $1.89 EPS. The business’s revenue for the quarter was up 3.2% on a year-over-year basis. Sell-side analysts forecast that Zimmer Biomet will post 8.1 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. GAMMA Investing LLC lifted its stake in shares of Zimmer Biomet by 81.6% in the 2nd quarter. GAMMA Investing LLC now owns 986 shares of the medical equipment provider’s stock valued at $107,000 after purchasing an additional 443 shares during the period. EverSource Wealth Advisors LLC lifted its stake in shares of Zimmer Biomet by 30.0% in the 1st quarter. EverSource Wealth Advisors LLC now owns 875 shares of the medical equipment provider’s stock valued at $105,000 after purchasing an additional 202 shares during the period. Hamilton Wealth LLC lifted its stake in shares of Zimmer Biomet by 2.0% in the 1st quarter. Hamilton Wealth LLC now owns 40,943 shares of the medical equipment provider’s stock valued at $5,404,000 after purchasing an additional 799 shares during the period. DekaBank Deutsche Girozentrale lifted its stake in shares of Zimmer Biomet by 5.1% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 276,635 shares of the medical equipment provider’s stock valued at $36,471,000 after purchasing an additional 13,513 shares during the period. Finally, Pathway Financial Advisers LLC acquired a new stake in Zimmer Biomet during the 1st quarter worth $138,000. Institutional investors and hedge funds own 88.89% of the company’s stock.

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.