Evercore ISI Cuts Zimmer Biomet (NYSE:ZBH) Price Target to $104.00

Key Points

• Evercore ISI has lowered its price target for Zimmer Biomet from $106.00 to $104.00, indicating a potential upside of 5.19% from the current stock price.
• The company's recent quarterly earnings showed $2.07 earnings per share, which surpassed analysts' estimates, and a year-over-year revenue increase of 7.0%.
• Zimmer Biomet currently holds an average rating of "Hold" from analysts, with one Strong Buy, ten Buy, eight Hold, and two Sell ratings issued.

Zimmer Biomet (NYSE:ZBH - Get Free Report) had its target price lowered by Evercore ISI from $106.00 to $104.00 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has an "in-line" rating on the medical equipment provider's stock. Evercore ISI's target price would indicate a potential upside of 5.19% from the company's current price.

A number of other equities analysts have also weighed in on ZBH. Royal Bank Of Canada increased their price target on Zimmer Biomet from $112.00 to $115.00 and gave the company an "outperform" rating in a research report on Friday, August 8th. Stifel Nicolaus raised their price objective on Zimmer Biomet from $115.00 to $118.00 and gave the stock a "buy" rating in a research report on Friday, September 19th. Rothschild & Co Redburn assumed coverage on Zimmer Biomet in a research report on Thursday, September 18th. They set a "buy" rating and a $130.00 price objective for the company. UBS Group raised their price objective on Zimmer Biomet from $91.00 to $96.00 and gave the stock a "sell" rating in a research report on Friday, August 8th. Finally, Roth Capital restated a "buy" rating on shares of Zimmer Biomet in a research report on Thursday, August 7th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, eight have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, Zimmer Biomet has an average rating of "Hold" and an average target price of $112.89.

Zimmer Biomet Price Performance

NYSE:ZBH traded up $0.04 during mid-day trading on Tuesday, reaching $98.87. 402,488 shares of the stock were exchanged, compared to its average volume of 1,928,445. The company has a current ratio of 1.87, a quick ratio of 0.96 and a debt-to-equity ratio of 0.54. Zimmer Biomet has a 1-year low of $89.22 and a 1-year high of $114.72. The firm has a market capitalization of $19.59 billion, a PE ratio of 24.06, a PEG ratio of 2.32 and a beta of 0.67. The business has a fifty day moving average price of $100.93 and a 200 day moving average price of $98.54.

Zimmer Biomet (NYSE:ZBH - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The medical equipment provider reported $2.07 earnings per share for the quarter, beating analysts' consensus estimates of $1.98 by $0.09. Zimmer Biomet had a return on equity of 12.76% and a net margin of 10.51%.The business had revenue of $2.08 billion during the quarter, compared to analyst estimates of $2.06 billion. During the same quarter last year, the company posted $2.01 EPS. Zimmer Biomet's revenue for the quarter was up 7.0% on a year-over-year basis. Zimmer Biomet has set its FY 2025 guidance at 8.100-8.300 EPS. Research analysts expect that Zimmer Biomet will post 8.22 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Zimmer Biomet news, SVP Lori Winkler sold 1,500 shares of Zimmer Biomet stock in a transaction that occurred on Monday, September 8th. The stock was sold at an average price of $104.15, for a total value of $156,225.00. Following the transaction, the senior vice president directly owned 6,833 shares of the company's stock, valued at $711,656.95. The trade was a 18.00% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.70% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in ZBH. Ameriprise Financial Inc. increased its position in Zimmer Biomet by 236.0% in the 1st quarter. Ameriprise Financial Inc. now owns 4,568,287 shares of the medical equipment provider's stock worth $517,039,000 after buying an additional 3,208,596 shares during the period. Dodge & Cox increased its position in shares of Zimmer Biomet by 12.9% during the second quarter. Dodge & Cox now owns 22,097,463 shares of the medical equipment provider's stock valued at $2,015,510,000 after purchasing an additional 2,533,009 shares during the period. Norges Bank bought a new stake in shares of Zimmer Biomet during the second quarter valued at approximately $225,867,000. JPMorgan Chase & Co. increased its position in shares of Zimmer Biomet by 251.3% during the first quarter. JPMorgan Chase & Co. now owns 2,081,381 shares of the medical equipment provider's stock valued at $235,571,000 after purchasing an additional 1,488,918 shares during the period. Finally, Nuveen LLC bought a new stake in shares of Zimmer Biomet during the first quarter valued at approximately $155,891,000. 88.89% of the stock is 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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