Zacks Research Upgrades Zimmer Biomet (NYSE:ZBH) to Hold

Key Points

• Zacks Research upgraded Zimmer Biomet from “strong sell” to “hold,” aligning with the broader analyst consensus of “hold” and an average price target of $104.42.
• Zimmer Biomet reported quarterly results above expectations, with EPS of $2.07 versus a $2.01 estimate and revenue of $2.18 billion versus $2.13 billion expected; revenue increased 4.8% year over year.
• The stock opened at $101.41, near its $104.42 consensus target, while institutional investors own a substantial 88.89% of shares; an insider recently sold 5,000 shares.

Zimmer Biomet (NYSE:ZBH - Get Free Report) was upgraded by research analysts at Zacks Research from a "strong sell" rating to a "hold" rating in a research note issued to investors on Tuesday,Zacks.com reports.

Other equities research analysts have also recently issued research reports about the company. Sanford C. Bernstein lifted their price target on Zimmer Biomet from $91.00 to $93.00 and gave the company a "market perform" rating in a report on Thursday, August 6th. Citigroup decreased their price objective on Zimmer Biomet from $95.00 to $93.00 and set a "neutral" rating for the company in a report on Thursday, May 28th. Barclays lowered their target price on Zimmer Biomet from $100.00 to $94.00 and set an "underweight" rating on the stock in a research report on Wednesday, April 29th. Wall Street Zen lowered Zimmer Biomet from a "buy" rating to a "hold" rating in a research report on Saturday, August 8th. Finally, Truist Financial increased their price target on Zimmer Biomet from $92.00 to $106.00 and gave the stock a "hold" rating in a research note on Thursday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, fourteen have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $104.42.

Zimmer Biomet Stock Performance

Shares of ZBH opened at $101.41 on Tuesday. The firm has a fifty day moving average of $93.40 and a 200-day moving average of $91.31. The company has a market cap of $19.34 billion, a price-to-earnings ratio of 24.67, a price-to-earnings-growth ratio of 2.72 and a beta of 0.45. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.94 and a current ratio of 1.69. Zimmer Biomet has a 1 year low of $79.12 and a 1 year high of $107.85.

Zimmer Biomet (NYSE:ZBH - Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The medical equipment provider reported $2.07 earnings per share for the quarter, beating the consensus estimate of $2.01 by $0.06. The firm had revenue of $2.18 billion for the quarter, compared to the consensus estimate of $2.13 billion. Zimmer Biomet had a net margin of 9.48% and a return on equity of 13.12%. Zimmer Biomet's quarterly revenue was up 4.8% compared to the same quarter last year. During the same period last year, the firm posted $2.07 EPS. Zimmer Biomet has set its FY 2026 guidance at 8.470-8.590 EPS. As a group, equities analysts anticipate that Zimmer Biomet will post 8.54 earnings per share for the current year.

Insider Buying and Selling

In other Zimmer Biomet news, insider Sang Yi sold 5,000 shares of the company's stock in a transaction that occurred on Friday, May 29th. The stock was sold at an average price of $82.64, for a total value of $413,200.00. Following the completion of the sale, the insider directly owned 27,251 shares in the company, valued at $2,252,022.64. This represents a 15.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.28% of the stock is currently owned by insiders.

Institutional Trading of Zimmer Biomet

Hedge funds and other institutional investors have recently modified their holdings of the company. Amundi lifted its holdings in shares of Zimmer Biomet by 28.8% in the second quarter. Amundi now owns 719,279 shares of the medical equipment provider's stock valued at $61,923,000 after buying an additional 160,765 shares during the period. California State Teachers Retirement System raised its position in Zimmer Biomet by 7,899.1% in the second quarter. California State Teachers Retirement System now owns 26,825,816 shares of the medical equipment provider's stock worth $2,309,434,000 after acquiring an additional 26,490,456 shares in the last quarter. Studio Investment Management LLC raised its position in Zimmer Biomet by 17.3% in the second quarter. Studio Investment Management LLC now owns 22,209 shares of the medical equipment provider's stock worth $1,917,000 after acquiring an additional 3,282 shares in the last quarter. Ameritas Advisory Services LLC acquired a new stake in Zimmer Biomet in the 2nd quarter valued at about $101,000. Finally, HB Wealth Management LLC lifted its holdings in Zimmer Biomet by 7.2% in the 2nd quarter. HB Wealth Management LLC now owns 18,538 shares of the medical equipment provider's stock valued at $1,596,000 after acquiring an additional 1,249 shares during the last quarter. Institutional investors own 88.89% of the company's stock.

Zimmer Biomet Company Profile

Zimmer Biomet NYSE: ZBH is a global medical device company focused on musculoskeletal healthcare. Headquartered in Warsaw, Indiana, the company designs, manufactures and markets a broad portfolio of products used to treat joint disorders, bone disorders and related conditions. Its customer base includes orthopaedic and dental surgeons, hospitals, ambulatory surgery centers and other healthcare providers that rely on implants, instruments and related services for reconstructive and restorative procedures.

The company's product offerings span joint replacement systems for hips, knees and shoulders; trauma and extremities implants; spine and thoracic solutions; dental and craniomaxillofacial implants and prosthetics; and sports medicine devices.

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