Royal Bank of Canada Issues Pessimistic Forecast for Zimmer Biomet (NYSE:ZBH) Stock Price

Zimmer Biomet (NYSE:ZBH - Get Free Report) had its target price decreased by equities research analysts at Royal Bank of Canada from $125.00 to $112.00 in a report issued on Tuesday,Benzinga reports. The firm currently has an "outperform" rating on the medical equipment provider's stock. Royal Bank of Canada's target price would indicate a potential upside of 22.47% from the company's previous close.

ZBH has been the topic of a number of other research reports. Robert W. Baird dropped their price target on Zimmer Biomet from $130.00 to $115.00 and set an "outperform" rating on the stock in a research report on Tuesday. Needham & Company LLC reissued a "hold" rating on shares of Zimmer Biomet in a research note on Friday, February 7th. JPMorgan Chase & Co. decreased their price target on shares of Zimmer Biomet from $128.00 to $105.00 and set an "overweight" rating on the stock in a research note on Tuesday. Barclays reduced their price target on Zimmer Biomet from $118.00 to $112.00 and set an "underweight" rating on the stock in a research report on Monday, February 10th. Finally, Truist Financial reaffirmed a "hold" rating and set a $113.00 price objective (down from $118.00) on shares of Zimmer Biomet in a research note on Monday, February 10th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and nine have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $117.50.

Zimmer Biomet Price Performance

Shares of ZBH stock traded up $0.97 on Tuesday, hitting $91.45. 1,715,170 shares of the company's stock were exchanged, compared to its average volume of 1,684,563. The stock has a market cap of $18.09 billion, a P/E ratio of 20.56, a price-to-earnings-growth ratio of 1.95 and a beta of 0.78. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.91 and a quick ratio of 0.99. The company has a 50 day moving average of $105.24 and a 200 day moving average of $106.42. Zimmer Biomet has a 12 month low of $89.92 and a 12 month high of $122.25.

Zimmer Biomet (NYSE:ZBH - Get Free Report) last announced its quarterly earnings data on Monday, May 5th. The medical equipment provider reported $1.81 earnings per share for the quarter, beating the consensus estimate of $1.77 by $0.04. The firm had revenue of $1.91 billion for the quarter, compared to analyst estimates of $1.89 billion. Zimmer Biomet had a net margin of 11.77% and a return on equity of 12.99%. The business's quarterly revenue was up 1.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.94 earnings per share. On average, equities research analysts predict that Zimmer Biomet will post 8.22 EPS for the current year.

Insider Buying and Selling

In related news, SVP Lori Winkler sold 1,443 shares of the firm's stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $104.40, for a total value of $150,649.20. Following the sale, the senior vice president now directly owns 8,768 shares in the company, valued at $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 available through this hyperlink. Corporate insiders own 0.95% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Roman Butler Fullerton & Co. acquired a new stake in Zimmer Biomet in the 4th quarter valued at $473,000. KLCM Advisors Inc. acquired a new position in Zimmer Biomet in the fourth quarter valued at approximately $7,825,000. Peddock Capital Advisors LLC acquired a new stake in shares of Zimmer Biomet during the fourth quarter worth $654,000. Van ECK Associates Corp grew its holdings in Zimmer Biomet by 5.9% during the fourth quarter. Van ECK Associates Corp now owns 3,955,449 shares of the medical equipment provider's stock valued at $417,814,000 after purchasing an additional 218,688 shares during the period. Finally, Reinhart Partners LLC. increased its position in shares of Zimmer Biomet by 34.4% in the 4th quarter. Reinhart Partners LLC. now owns 86,755 shares of the medical equipment provider's stock valued at $9,164,000 after buying an additional 22,220 shares in the last quarter. Institutional investors and hedge funds 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.

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