Canaccord Genuity Group Lowers Zimmer Biomet (NYSE:ZBH) Price Target to $101.00

Zimmer Biomet (NYSE:ZBH - Get Free Report) had its target price dropped by Canaccord Genuity Group from $115.00 to $101.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has a "hold" rating on the medical equipment provider's stock. Canaccord Genuity Group's price objective suggests a potential upside of 2.50% from the company's current price.

A number of other equities analysts also recently weighed in on ZBH. JMP Securities dropped their price target on shares of Zimmer Biomet from $140.00 to $125.00 and set a "market outperform" rating on the stock in a research note on Wednesday, May 7th. Morgan Stanley lowered their price target on Zimmer Biomet from $115.00 to $95.00 and set an "equal weight" rating on the stock in a research report on Tuesday, May 6th. Barclays reduced their target price on shares of Zimmer Biomet from $118.00 to $112.00 and set an "underweight" rating for the company in a research note on Monday, February 10th. BTIG Research reaffirmed a "buy" rating on shares of Zimmer Biomet in a report on Monday, April 14th. Finally, Truist Financial set a $101.00 price target on shares of Zimmer Biomet in a report on Tuesday, May 6th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $113.45.

Zimmer Biomet Price Performance

Shares of NYSE:ZBH traded up $3.33 on Monday, reaching $98.54. 180,158 shares of the company traded hands, compared to its average volume of 1,716,970. Zimmer Biomet has a fifty-two week low of $89.92 and a fifty-two week high of $122.25. The company's 50 day moving average is $104.43 and its 200-day moving average is $106.13. The stock has a market capitalization of $19.50 billion, a PE ratio of 22.16, a P/E/G ratio of 1.95 and a beta of 0.78. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.91 and a quick ratio of 0.99.

Zimmer Biomet (NYSE:ZBH - Get Free Report) last announced its quarterly earnings data on Monday, May 5th. The medical equipment provider reported $1.81 EPS for the quarter, beating analysts' consensus estimates of $1.77 by $0.04. Zimmer Biomet had a return on equity of 12.99% and a net margin of 11.77%. The company had revenue of $1.91 billion during the quarter, compared to the consensus estimate of $1.89 billion. During the same quarter in the prior year, the firm earned $1.94 EPS. The company's quarterly revenue was up 1.1% compared to the same quarter last year. As a group, analysts anticipate that Zimmer Biomet will post 8.22 earnings per share for the current fiscal year.

Insider Activity

In related news, SVP Lori Winkler sold 1,443 shares of the business's stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $104.40, for a total value of $150,649.20. Following the completion of the sale, the senior vice president now directly owns 8,768 shares in the company, valued at approximately $915,379.20. The trade was a 14.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. 1.39% of the stock is owned by company insiders.

Institutional Investors Weigh In On Zimmer Biomet

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Roman Butler Fullerton & Co. bought a new stake in Zimmer Biomet during the fourth quarter worth $473,000. KLCM Advisors Inc. acquired a new position in shares of Zimmer Biomet during the fourth quarter worth $7,825,000. Peddock Capital Advisors LLC acquired a new position in shares of Zimmer Biomet during the fourth quarter worth $654,000. Van ECK Associates Corp increased its holdings in shares of Zimmer Biomet by 5.9% during the fourth quarter. Van ECK Associates Corp now owns 3,955,449 shares of the medical equipment provider's stock worth $417,814,000 after buying an additional 218,688 shares in the last quarter. Finally, Reinhart Partners LLC. increased its holdings in shares of Zimmer Biomet by 34.4% during the fourth quarter. Reinhart Partners LLC. now owns 86,755 shares of the medical equipment provider's stock worth $9,164,000 after buying an additional 22,220 shares in the last quarter. 88.89% of the stock is currently owned by institutional investors.

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.

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