Robert W. Baird Cuts Zimmer Biomet (NYSE:ZBH) Price Target to $115.00

Zimmer Biomet (NYSE:ZBH - Get Free Report) had its target price lowered by equities researchers at Robert W. Baird from $130.00 to $115.00 in a report issued on Tuesday,Benzinga reports. The brokerage presently has an "outperform" rating on the medical equipment provider's stock. Robert W. Baird's price objective points to a potential upside of 27.29% from the company's current price.

Several other research analysts have also recently weighed in on the company. Needham & Company LLC restated a "hold" rating on shares of Zimmer Biomet in a report on Friday, February 7th. JMP Securities reaffirmed a "market outperform" rating and issued a $140.00 price target on shares of Zimmer Biomet in a research report on Friday, February 7th. BTIG Research reiterated a "buy" rating on shares of Zimmer Biomet in a research note on Monday, April 14th. Raymond James dropped their price target on shares of Zimmer Biomet from $126.00 to $119.00 and set an "outperform" rating on the stock in a research note on Friday, February 7th. Finally, Truist Financial reaffirmed a "hold" rating and set a $113.00 price objective (down previously from $118.00) on shares of Zimmer Biomet in a report on Monday, February 10th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Zimmer Biomet currently has an average rating of "Hold" and a consensus price target of $122.65.

Zimmer Biomet Trading Down 11.8 %

Shares of NYSE:ZBH opened at $90.34 on Tuesday. The company has a current ratio of 1.91, a quick ratio of 0.99 and a debt-to-equity ratio of 0.43. Zimmer Biomet has a 12-month low of $89.92 and a 12-month high of $122.25. The business has a 50 day moving average of $105.24 and a two-hundred day moving average of $106.42. The company has a market capitalization of $17.87 billion, a PE ratio of 20.30, a PEG ratio of 1.95 and a beta of 0.78.

Zimmer Biomet (NYSE:ZBH - Get Free Report) last posted its earnings results on Monday, May 5th. The medical equipment provider reported $1.81 EPS for the quarter, beating analysts' consensus estimates of $1.77 by $0.04. Zimmer Biomet had a return on equity of 12.99% and a net margin of 11.77%. The firm had revenue of $1.91 billion for the quarter, compared to analysts' expectations of $1.89 billion. During the same period last year, the firm earned $1.94 EPS. The company's quarterly revenue was up 1.1% on a year-over-year basis. As a group, analysts forecast that Zimmer Biomet will post 8.22 EPS for the current year.

Insider Buying and Selling

In other news, SVP Lori Winkler sold 1,443 shares of Zimmer Biomet stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $104.40, for a total transaction of $150,649.20. Following the completion of the sale, the senior vice president now directly owns 8,768 shares in the company, valued at approximately $915,379.20. This trade represents a 14.13 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.95% of the stock is owned by insiders.

Hedge Funds Weigh In On Zimmer Biomet

Hedge funds have recently bought and sold shares of the company. Stonebridge Financial Group LLC purchased a new stake in shares of Zimmer Biomet in the 4th quarter worth about $25,000. Garde Capital Inc. purchased a new stake in shares of Zimmer Biomet in the first quarter valued at about $29,000. Washington Trust Advisors Inc. acquired a new stake in shares of Zimmer Biomet in the first quarter valued at approximately $30,000. Columbia River Financial Group LLC purchased a new position in shares of Zimmer Biomet during the 1st quarter worth approximately $30,000. Finally, Menard Financial Group LLC acquired a new position in shares of Zimmer Biomet during the 4th quarter worth approximately $30,000. 88.89% of the stock is owned by hedge funds and other 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.

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