Barclays Lowers Zimmer Biomet (NYSE:ZBH) Price Target to $118.00

Zimmer Biomet (NYSE:ZBH) had its price target cut by Barclays from $125.00 to $118.00 in a research note published on Thursday morning,Benzinga reports. They currently have an underweight rating on the medical equipment provider’s stock.

A number of other research analysts have also commented on ZBH. Wells Fargo & Company increased their price objective on Zimmer Biomet from $110.00 to $117.00 and gave the company an “equal weight” rating in a research report on Thursday, October 31st. Needham & Company LLC reiterated a “hold” rating on shares of Zimmer Biomet in a report on Thursday, October 31st. Wolfe Research started coverage on Zimmer Biomet in a report on Tuesday, September 10th. They set a “peer perform” rating for the company. TD Cowen reduced their target price on shares of Zimmer Biomet from $143.00 to $119.00 and set a “hold” rating on the stock in a research note on Friday, September 6th. Finally, Raymond James lowered their price target on shares of Zimmer Biomet from $128.00 to $123.00 and set an “outperform” rating for the company in a research report on Monday, October 14th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $122.83.

Zimmer Biomet Stock Performance

Zimmer Biomet stock opened at $106.74 on Thursday. The stock has a 50-day simple moving average of $107.69 and a 200 day simple moving average of $108.70. The stock has a market capitalization of $21.25 billion, a price-to-earnings ratio of 20.29, a P/E/G ratio of 1.96 and a beta of 1.02. The company has a quick ratio of 0.70, a current ratio of 1.36 and a debt-to-equity ratio of 0.38. Zimmer Biomet has a 12-month low of $101.47 and a 12-month high of $133.90.

Zimmer Biomet (NYSE:ZBH) last announced its earnings results on Wednesday, October 30th. The medical equipment provider reported $1.74 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.74. Zimmer Biomet had a net margin of 14.27% and a return on equity of 12.95%. The company had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.80 billion. During the same period in the previous year, the firm posted $1.65 earnings per share. The company’s revenue was up 4.1% on a year-over-year basis. On average, research analysts anticipate that Zimmer Biomet will post 7.99 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Zimmer Biomet

Several large investors have recently made changes to their positions in the stock. Dunhill Financial LLC raised its position in Zimmer Biomet by 1,090.0% in the 3rd quarter. Dunhill Financial LLC now owns 238 shares of the medical equipment provider’s stock valued at $26,000 after buying an additional 218 shares during the last quarter. Ashton Thomas Securities LLC bought a new position in shares of Zimmer Biomet during the 3rd quarter worth approximately $28,000. Bangor Savings Bank bought a new stake in shares of Zimmer Biomet in the third quarter worth $31,000. Family Firm Inc. acquired a new position in Zimmer Biomet during the second quarter worth $33,000. Finally, Brooklyn Investment Group bought a new position in Zimmer Biomet in the third quarter valued at $35,000. 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.