Zimmer Biomet (NYSE:ZBH) Coverage Initiated at Wolfe Research

Analysts at Wolfe Research initiated coverage on shares of Zimmer Biomet (NYSE:ZBH) in a research report issued to clients and investors on Tuesday, MarketBeat Ratings reports. The brokerage set a “peer perform” rating on the medical equipment provider’s stock.

A number of other brokerages also recently issued reports on ZBH. Argus upgraded Zimmer Biomet from a “hold” rating to a “buy” rating and set a $150.00 price objective on the stock in a research report on Tuesday, May 21st. Citigroup lowered their target price on shares of Zimmer Biomet from $134.00 to $120.00 and set a “neutral” rating for the company in a report on Wednesday, July 10th. Barclays decreased their price objective on shares of Zimmer Biomet from $130.00 to $125.00 and set an “underweight” rating for the company in a report on Friday, May 31st. Evercore ISI reiterated an “in-line” rating and set a $113.00 target price on shares of Zimmer Biomet in a research report on Thursday, September 5th. Finally, Piper Sandler cut shares of Zimmer Biomet from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $140.00 to $115.00 in a research note on Monday, July 1st. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $125.72.

Zimmer Biomet Stock Performance

NYSE ZBH opened at $105.15 on Tuesday. Zimmer Biomet has a fifty-two week low of $102.00 and a fifty-two week high of $133.90. The firm’s fifty day moving average price is $109.96 and its two-hundred day moving average price is $116.38. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.63 and a current ratio of 1.29. The stock has a market cap of $21.41 billion, a PE ratio of 22.76, a PEG ratio of 1.92 and a beta of 1.02.

Zimmer Biomet (NYSE:ZBH) last posted its quarterly earnings results on Wednesday, August 7th. The medical equipment provider reported $2.01 earnings per share for the quarter, beating the consensus estimate of $1.99 by $0.02. The firm had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.94 billion. Zimmer Biomet had a net margin of 13.25% and a return on equity of 12.86%. The business’s revenue was up 3.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.82 earnings per share. On average, equities analysts expect that Zimmer Biomet will post 8.02 EPS for the current fiscal year.

Institutional Investors Weigh In On Zimmer Biomet

A number of large investors have recently added to or reduced their stakes in the stock. OLD Point Trust & Financial Services N A bought a new stake in shares of Zimmer Biomet in the fourth quarter worth about $26,000. Ables Iannone Moore & Associates Inc. acquired a new stake in shares of Zimmer Biomet during the 4th quarter worth approximately $30,000. Crewe Advisors LLC acquired a new position in shares of Zimmer Biomet during the 1st quarter worth $31,000. Family Firm Inc. bought a new position in Zimmer Biomet in the 2nd quarter valued at approximately $33,000. Finally, J.Safra Asset Management Corp increased its stake in shares of Zimmer Biomet by 712.1% in the first quarter. J.Safra Asset Management Corp now owns 268 shares of the medical equipment provider’s stock valued at $35,000 after buying an additional 235 shares during the period. Institutional investors 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.