Raymond James Financial Increases Zimmer Biomet (NYSE:ZBH) Price Target to $113.00

Key Points

• Raymond James Financial raised its price target for Zimmer Biomet (NYSE:ZBH) from $104.00 to $113.00, indicating a potential upside of 15.14% from the current stock price.
• Despite the positive outlook from Raymond James, several analysts have issued a range of conflicting price targets, with Morgan Stanley lowering their target to $95.00 and others adjusting similarly.
• Zimmer Biomet's stock recently traded down 0.3% to $98.14, with a market cap of $19.42 billion and a 52-week range between $89.22 and $116.71.

Zimmer Biomet (NYSE:ZBH - Get Free Report) had its price target upped by investment analysts at Raymond James Financial from $104.00 to $113.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has an "outperform" rating on the medical equipment provider's stock. Raymond James Financial's target price points to a potential upside of 15.14% from the stock's current price.

Several other equities research analysts have also issued reports on ZBH. Morgan Stanley dropped 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. The Goldman Sachs Group reduced their price target on shares of Zimmer Biomet from $120.00 to $104.00 and set a "neutral" rating on the stock in a research report on Tuesday, May 6th. Wells Fargo & Company decreased their target price on Zimmer Biomet from $113.00 to $98.00 and set an "equal weight" rating for the company in a research note on Tuesday, May 6th. Royal Bank Of Canada lowered their price target on shares of Zimmer Biomet from $125.00 to $112.00 and set an "outperform" rating for the company in a research report on Tuesday, May 6th. Finally, UBS Group set a $96.00 price target on Zimmer Biomet and gave the stock a "sell" rating in a research report on Friday. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, Zimmer Biomet currently has a consensus rating of "Hold" and a consensus target price of $111.28.

Zimmer Biomet Stock Down 0.3%

Zimmer Biomet stock traded down $0.29 during trading on Friday, reaching $98.14. 1,094,037 shares of the company's stock were exchanged, compared to its average volume of 2,088,092. Zimmer Biomet has a 52-week low of $89.22 and a 52-week high of $116.71. The firm has a market cap of $19.42 billion, a price-to-earnings ratio of 21.71, a PEG ratio of 2.13 and a beta of 0.68. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.46 and a current ratio of 2.44. The company's 50-day moving average is $93.20 and its two-hundred day moving average is $99.87.

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 (EPS) for the quarter, topping the consensus estimate of $1.98 by $0.09. Zimmer Biomet had a net margin of 11.86% and a return on equity of 12.73%. The firm had revenue of $2.08 billion for the quarter, compared to the consensus estimate of $2.06 billion. During the same quarter in the previous year, the firm posted $2.01 EPS. The firm's quarterly revenue was up 7.0% on a year-over-year basis. On average, analysts predict that Zimmer Biomet will post 8.22 earnings per share for the current year.

Insider Activity

In other Zimmer Biomet news, insider Sang Yi sold 1,000 shares of the stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $95.00, for a total value of $95,000.00. Following the completion of the sale, the insider owned 20,424 shares in the company, valued at $1,940,280. This represents a 4.67% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.39% of the stock is owned by company insiders.

Institutional Trading of Zimmer Biomet

A number of institutional investors and hedge funds have recently made changes to their positions in ZBH. Ameriprise Financial Inc. grew its stake 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 valued at $517,039,000 after buying an additional 3,208,596 shares during the last quarter. Dodge & Cox boosted its holdings in Zimmer Biomet by 12.0% during the fourth quarter. Dodge & Cox now owns 19,118,436 shares of the medical equipment provider's stock valued at $2,019,480,000 after acquiring an additional 2,044,645 shares during the period. JPMorgan Chase & Co. boosted its holdings in 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 acquiring an additional 1,488,918 shares during the period. Nuveen LLC acquired a new stake in shares of Zimmer Biomet in the first quarter valued at about $155,891,000. Finally, Nuveen Asset Management LLC increased its stake in shares of Zimmer Biomet by 191.8% in the fourth quarter. Nuveen Asset Management LLC now owns 1,389,405 shares of the medical equipment provider's stock worth $146,763,000 after purchasing an additional 913,310 shares during the period. Institutional investors and hedge funds 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.

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