Zimmer Biomet (NYSE:ZBH) Upgraded to Hold at Barclays

Key Points

• Barclays upgraded Zimmer Biomet to “hold”, aligning with the broader analyst consensus. Six analysts rate the stock a Buy, 15 a Hold and one a Sell, with a consensus price target of $103.33.
• Zimmer Biomet shares opened at $88.42, down 1.4%, while the company’s latest quarterly results exceeded expectations: adjusted earnings were $2.07 per share versus a $2.01 consensus estimate, and revenue reached $2.18 billion.
• Institutional investors own 88.89% of the stock, with BlackRock and Primecap Management establishing major new positions; meanwhile, two company insiders sold shares in September.

Zimmer Biomet (NYSE:ZBH - Get Free Report) was upgraded by analysts at Barclays to a "hold" rating in a report issued on Wednesday, Zacks reports.

ZBH has been the topic of several other research reports. Zacks Research raised shares of Zimmer Biomet from a "strong sell" rating to a "hold" rating in a research note on Tuesday, August 25th. Robert W. Baird set a $104.00 target price on shares of Zimmer Biomet in a report on Thursday, August 6th. UBS Group reissued a "buy" rating and set a $120.00 price target on shares of Zimmer Biomet in a research report on Thursday, August 6th. Canaccord Genuity Group boosted their price target on shares of Zimmer Biomet from $83.00 to $100.00 and gave the company a "hold" rating in a report on Monday, August 10th. Finally, Stifel Nicolaus upped their price objective on shares of Zimmer Biomet from $105.00 to $110.00 and gave the company a "buy" rating in a research report on Thursday, August 6th. Six investment analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $103.33.

Zimmer Biomet Trading Down 1.4%

NYSE ZBH opened at $88.42 on Wednesday. The stock has a 50-day simple moving average of $95.92 and a 200 day simple moving average of $91.12. The company has a market capitalization of $16.86 billion, a PE ratio of 21.51, a P/E/G ratio of 1.69 and a beta of 0.49. The company has a current ratio of 1.69, a quick ratio of 0.94 and a debt-to-equity ratio of 0.50. Zimmer Biomet has a 12 month low of $79.12 and a 12 month high of $106.88.

Zimmer Biomet (NYSE:ZBH - Get Free Report) last released its earnings results 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 analyst estimates of $2.13 billion. Zimmer Biomet had a return on equity of 13.12% and a net margin of 9.48%.The company's quarterly revenue was up 4.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.07 earnings per share. Zimmer Biomet has set its FY 2026 guidance at 8.470-8.590 EPS. Research analysts forecast that Zimmer Biomet will post 8.54 EPS for the current year.

Insider Transactions at Zimmer Biomet

In related news, insider Chad Phipps sold 3,000 shares of the stock in a transaction dated Friday, September 4th. The stock was sold at an average price of $98.35, for a total transaction of $295,050.00. Following the completion of the transaction, the insider directly owned 65,231 shares in the company, valued at approximately $6,415,468.85. This trade represents a 4.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Kevin R. Thornal sold 5,691 shares of Zimmer Biomet stock in a transaction that occurred on Friday, September 11th. The shares were sold at an average price of $92.95, for a total value of $528,978.45. The SEC filing for this sale provides additional information. 1.28% of the stock is currently owned by company insiders.

Institutional Trading of Zimmer Biomet

Hedge funds and other institutional investors have recently made changes to their positions in the business. BlackRock Inc. bought a new position in Zimmer Biomet in the second quarter valued at $1,344,282,000. State Street Corp lifted its position in Zimmer Biomet by 0.6% during the 2nd quarter. State Street Corp now owns 8,877,171 shares of the medical equipment provider's stock worth $766,343,000 after buying an additional 52,044 shares in the last quarter. Primecap Management Co. CA acquired a new position in shares of Zimmer Biomet during the 2nd quarter worth about $328,578,000. Van ECK Associates Corp grew its holdings in shares of Zimmer Biomet by 3.9% in the 4th quarter. Van ECK Associates Corp now owns 3,613,425 shares of the medical equipment provider's stock valued at $324,920,000 after acquiring an additional 136,519 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Zimmer Biomet by 1.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,224,163 shares of the medical equipment provider's stock valued at $201,082,000 after acquiring an additional 24,208 shares in the last quarter. 88.89% of the stock is currently owned by institutional investors and hedge funds.

Zimmer Biomet Company Profile

Zimmer Biomet Holdings, Inc NYSE: ZBH is a global medical device company focused on musculoskeletal healthcare. The company develops, manufactures and markets products used in orthopedic surgery, including total and partial knee, hip and shoulder replacement systems, sports medicine products, extremities, trauma devices and related surgical technologies.

Its portfolio also includes orthopedic surgical equipment, robotic- and computer-assisted technologies, biologics and other solutions designed to support joint reconstruction, spine procedures and dental applications.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.