Evercore ISI Cuts Zimmer Biomet (NYSE:ZBH) Price Target to $110.00

Zimmer Biomet (NYSE:ZBH) had its price target dropped by Evercore ISI from $113.00 to $110.00 in a research note issued to investors on Tuesday, Benzinga reports. The firm currently has an “in-line” rating on the medical equipment provider’s stock. Evercore ISI’s price target points to a potential upside of 4.08% from the stock’s previous close.

Several other research analysts also recently commented on the company. Wolfe Research initiated coverage on Zimmer Biomet in a report on Tuesday, September 10th. They issued a “peer perform” rating on the stock. Piper Sandler downgraded Zimmer Biomet from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $140.00 to $115.00 in a research report on Monday, July 1st. TD Cowen cut their target price on shares of Zimmer Biomet from $143.00 to $119.00 and set a “hold” rating on the stock in a report on Friday, September 6th. Robert W. Baird lowered their price target on shares of Zimmer Biomet from $155.00 to $145.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Finally, Truist Financial reissued a “hold” rating and set a $112.00 price target (down previously from $117.00) on shares of Zimmer Biomet in a research report on Friday, September 13th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $125.00.

Zimmer Biomet Stock Performance

NYSE:ZBH opened at $105.69 on Tuesday. The company has a market capitalization of $21.74 billion, a price-to-earnings ratio of 22.88, a PEG ratio of 1.98 and a beta of 1.02. The business has a 50 day moving average of $109.45 and a 200 day moving average of $114.38. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.29 and a quick ratio of 0.63. Zimmer Biomet has a 1-year low of $102.00 and a 1-year high of $133.90.

Zimmer Biomet (NYSE:ZBH) last announced its quarterly earnings data on Wednesday, August 7th. The medical equipment provider reported $2.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.99 by $0.02. The company had revenue of $1.94 billion during the quarter, compared to analysts’ expectations of $1.94 billion. Zimmer Biomet had a net margin of 13.25% and a return on equity of 12.86%. The firm’s revenue was up 3.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.82 EPS. On average, sell-side analysts predict that Zimmer Biomet will post 8 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of ZBH. OLD Point Trust & Financial Services N A bought a new position in Zimmer Biomet during the 4th quarter valued at approximately $26,000. Ables Iannone Moore & Associates Inc. purchased a new stake in shares of Zimmer Biomet in the fourth quarter worth $30,000. Crewe Advisors LLC bought a new position in shares of Zimmer Biomet during the first quarter valued at $31,000. Family Firm Inc. purchased a new position in shares of Zimmer Biomet in the 2nd quarter worth about $33,000. Finally, J.Safra Asset Management Corp boosted its stake in Zimmer Biomet by 712.1% in the 1st quarter. J.Safra Asset Management Corp now owns 268 shares of the medical equipment provider’s stock worth $35,000 after purchasing an additional 235 shares in the last quarter. 88.89% of the stock is currently owned by institutional investors.

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.