Citigroup Boosts Zimmer Biomet (NYSE:ZBH) Price Target to $140.00

Zimmer Biomet (NYSE:ZBH - Get Free Report) had its price objective upped by investment analysts at Citigroup from $134.00 to $140.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm presently has a "neutral" rating on the medical equipment provider's stock. Citigroup's price objective indicates a potential upside of 7.68% from the stock's previous close.

ZBH has been the subject of several other research reports. Barclays raised their price target on shares of Zimmer Biomet from $120.00 to $130.00 and gave the company an "underweight" rating in a research report on Monday, February 12th. Royal Bank of Canada reiterated an "outperform" rating and set a $140.00 price target on shares of Zimmer Biomet in a research note on Friday, February 9th. TheStreet upgraded shares of Zimmer Biomet from a "c" rating to a "b-" rating in a research note on Thursday, February 8th. StockNews.com cut shares of Zimmer Biomet from a "strong-buy" rating to a "buy" rating in a research note on Monday, February 19th. Finally, Evercore ISI cut shares of Zimmer Biomet from an "outperform" rating to an "inline" rating and lowered their target price for the company from $135.00 to $125.00 in a research note on Thursday, January 4th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $139.11.

Zimmer Biomet Price Performance

ZBH traded up $1.54 during trading on Wednesday, reaching $130.01. The stock had a trading volume of 1,368,982 shares, compared to its average volume of 1,539,507. The business has a 50-day moving average of $126.09 and a 200-day moving average of $118.36. Zimmer Biomet has a one year low of $102.00 and a one year high of $149.25. The stock has a market cap of $26.71 billion, a PE ratio of 26.58, a PEG ratio of 2.38 and a beta of 1.01. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.78 and a current ratio of 1.61.

Zimmer Biomet (NYSE:ZBH - Get Free Report) last posted its earnings results on Thursday, February 8th. The medical equipment provider reported $2.20 earnings per share for the quarter, topping analysts' consensus estimates of $2.15 by $0.05. The company had revenue of $1.94 billion during the quarter, compared to analyst estimates of $1.93 billion. Zimmer Biomet had a net margin of 13.85% and a return on equity of 12.79%. Zimmer Biomet's revenue for the quarter was up 6.3% on a year-over-year basis. During the same period in the prior year, the business posted $1.88 earnings per share. As a group, equities research analysts anticipate that Zimmer Biomet will post 8.07 EPS for the current fiscal year.

Insider Transactions at Zimmer Biomet

In related news, VP Chad F. Phipps sold 26,156 shares of the company's stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $128.62, for a total transaction of $3,364,184.72. Following the transaction, the vice president now directly owns 44,145 shares in the company, valued at approximately $5,677,929.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.95% of the company's stock.

Hedge Funds Weigh In On Zimmer Biomet

A number of hedge funds have recently added to or reduced their stakes in ZBH. Vanguard Group Inc. lifted its position in shares of Zimmer Biomet by 19.0% in the 1st quarter. Vanguard Group Inc. now owns 23,102,761 shares of the medical equipment provider's stock worth $2,954,843,000 after purchasing an additional 3,695,510 shares during the period. Dodge & Cox lifted its position in Zimmer Biomet by 137.7% during the fourth quarter. Dodge & Cox now owns 11,474,535 shares of the medical equipment provider's stock valued at $1,396,451,000 after acquiring an additional 6,647,810 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in Zimmer Biomet by 18.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 9,426,866 shares of the medical equipment provider's stock valued at $1,147,251,000 after acquiring an additional 1,458,359 shares during the last quarter. State Street Corp lifted its position in Zimmer Biomet by 3.6% during the second quarter. State Street Corp now owns 9,056,896 shares of the medical equipment provider's stock valued at $1,320,827,000 after acquiring an additional 318,082 shares during the last quarter. Finally, Primecap Management Co. CA lifted its position in Zimmer Biomet by 10.5% during the fourth quarter. Primecap Management Co. CA now owns 5,086,578 shares of the medical equipment provider's stock valued at $619,037,000 after acquiring an additional 484,151 shares during 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.