Zimmer Biomet's (ZBH) "Hold" Rating Reaffirmed at Needham & Company LLC

Zimmer Biomet (NYSE:ZBH - Get Free Report)'s stock had its "hold" rating reiterated by research analysts at Needham & Company LLC in a research note issued on Friday, Benzinga reports.

Other analysts have also recently issued reports about the stock. Evercore ISI lifted their target price on shares of Zimmer Biomet from $125.00 to $130.00 and gave the company an "in-line" rating in a research note on Thursday, April 4th. Oppenheimer lifted their target price on shares of Zimmer Biomet from $150.00 to $155.00 and gave the company an "outperform" rating in a research note on Friday, May 3rd. TheStreet upgraded shares of Zimmer Biomet from a "c" rating to a "b-" rating in a research note on Thursday, February 8th. Truist Financial reduced their target price on shares of Zimmer Biomet from $137.00 to $130.00 and set a "hold" rating for the company in a research note on Friday, May 3rd. Finally, Barclays lifted their target price on shares of Zimmer Biomet from $120.00 to $130.00 and gave the company an "underweight" rating in a research note on Monday, February 12th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, Zimmer Biomet currently has an average rating of "Hold" and an average price target of $135.40.

Zimmer Biomet Stock Down 0.9 %

Shares of NYSE:ZBH traded down $1.05 during trading on Friday, reaching $120.18. 1,168,750 shares of the company traded hands, compared to its average volume of 1,444,677. Zimmer Biomet has a 1-year low of $102.00 and a 1-year high of $147.50. The company has a quick ratio of 0.80, a current ratio of 1.66 and a debt-to-equity ratio of 0.38. The firm has a market cap of $24.72 billion, a P/E ratio of 26.24, a price-to-earnings-growth ratio of 2.18 and a beta of 1.03. The firm has a fifty day simple moving average of $124.46 and a 200 day simple moving average of $121.03.

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 12.70% and a net margin of 12.93%. The firm had revenue of $1.89 billion for the quarter, compared to the consensus estimate of $1.87 billion. During the same quarter in the previous year, the company posted $1.89 earnings per share. The business's quarterly revenue was up 3.2% compared to the same quarter last year. Analysts anticipate that Zimmer Biomet will post 8.1 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, VP Chad F. Phipps sold 26,156 shares of the firm's stock in a transaction 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 of the company's stock, valued at $5,677,929.90. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.95% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ZBH. OLD Point Trust & Financial Services N A bought a new position in shares of Zimmer Biomet during the 4th quarter worth approximately $26,000. Crewe Advisors LLC bought a new position in shares of Zimmer Biomet during the first quarter valued at $31,000. Ables Iannone Moore & Associates Inc. acquired a new stake in shares of Zimmer Biomet in the 4th quarter valued at $30,000. J.Safra Asset Management Corp grew its holdings in shares of Zimmer Biomet by 712.1% in the 1st quarter. J.Safra Asset Management Corp now owns 268 shares of the medical equipment provider's stock worth $35,000 after purchasing an additional 235 shares during the last quarter. Finally, Naples Money Management LLC bought a new position in Zimmer Biomet during the 4th quarter valued at about $35,000. Institutional investors own 88.89% of the company's stock.

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.