Truist Financial Lowers Zimmer Biomet (NYSE:ZBH) Price Target to $130.00

Zimmer Biomet (NYSE:ZBH - Get Free Report) had its price objective decreased by research analysts at Truist Financial from $137.00 to $130.00 in a research report issued on Friday, Benzinga reports. The firm presently has a "hold" rating on the medical equipment provider's stock. Truist Financial's price objective indicates a potential upside of 6.84% from the company's previous close.

Several other research analysts have also recently issued reports on ZBH. Barclays increased their price target on Zimmer Biomet from $120.00 to $130.00 and gave the stock an "underweight" rating in a research note on Monday, February 12th. TheStreet upgraded shares of Zimmer Biomet from a "c" rating to a "b-" rating in a report on Thursday, February 8th. Evercore ISI boosted their target price on Zimmer Biomet from $125.00 to $130.00 and gave the stock an "in-line" rating in a report on Thursday, April 4th. JPMorgan Chase & Co. increased their price target on Zimmer Biomet from $115.00 to $125.00 and gave the company a "neutral" rating in a research note on Friday, February 9th. Finally, Citigroup upped their price objective on Zimmer Biomet from $134.00 to $140.00 and gave the company a "neutral" rating in a report on Wednesday, April 3rd. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Zimmer Biomet presently has an average rating of "Hold" and an average target price of $139.00.

Zimmer Biomet Stock Performance

ZBH stock traded up $3.22 during trading on Friday, hitting $121.68. 1,847,585 shares of the company's stock traded hands, compared to its average volume of 1,482,554. The stock has a fifty day moving average price of $125.45 and a two-hundred day moving average price of $119.90. The company has a quick ratio of 0.78, a current ratio of 1.61 and a debt-to-equity ratio of 0.39. Zimmer Biomet has a 52 week low of $102.00 and a 52 week high of $147.50. The stock has a market capitalization of $25.00 billion, a price-to-earnings ratio of 24.88, a price-to-earnings-growth ratio of 2.20 and a beta of 1.03.

Zimmer Biomet (NYSE:ZBH - Get Free Report) last issued its earnings results on Thursday, May 2nd. The medical equipment provider reported $1.94 EPS for the quarter, beating analysts' consensus estimates of $1.87 by $0.07. Zimmer Biomet had a return on equity of 12.79% and a net margin of 13.85%. The company had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.87 billion. During the same period in the previous year, the firm posted $1.89 earnings per share. Zimmer Biomet's quarterly revenue was up 3.2% compared to the same quarter last year. As a group, equities analysts anticipate that Zimmer Biomet will post 8.08 EPS for the current fiscal year.

Insider Transactions at Zimmer Biomet

In other Zimmer Biomet news, VP Chad F. Phipps sold 26,156 shares of the firm's stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $128.62, for a total value of $3,364,184.72. Following the completion of the transaction, the vice president now directly owns 44,145 shares in the company, valued at $5,677,929.90. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.95% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of ZBH. Larson Financial Group LLC lifted its position in shares of Zimmer Biomet by 172.3% in the first quarter. Larson Financial Group LLC now owns 934 shares of the medical equipment provider's stock valued at $123,000 after buying an additional 591 shares during the last quarter. Easterly Investment Partners LLC lifted its holdings in Zimmer Biomet by 2.4% during the 1st quarter. Easterly Investment Partners LLC now owns 95,172 shares of the medical equipment provider's stock valued at $12,561,000 after purchasing an additional 2,196 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S boosted its position in Zimmer Biomet by 25.0% during the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 8,357 shares of the medical equipment provider's stock worth $1,103,000 after purchasing an additional 1,670 shares during the period. Boomfish Wealth Group LLC increased its holdings in shares of Zimmer Biomet by 1.3% in the first quarter. Boomfish Wealth Group LLC now owns 9,532 shares of the medical equipment provider's stock valued at $1,258,000 after purchasing an additional 119 shares during the last quarter. Finally, Central Pacific Bank Trust Division bought a new position in shares of Zimmer Biomet in the first quarter valued at about $1,874,000. Institutional investors own 88.89% of the company's stock.

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.