Zimmer Biomet (NYSE:ZBH) Given New $122.00 Price Target at BTIG Research

Key Points

• BTIG Research has increased its price target for Zimmer Biomet from $118.00 to $122.00, suggesting a potential upside of 28.71% based on the company's previous close.
• The medical equipment provider reported $2.07 earnings per share for its latest quarter, surpassing analysts' expectations and demonstrating a 7.0% increase in revenue year-over-year.
• Currently, the stock has a consensus rating of "Hold" with various analysts' price targets ranging from $111.00 to $130.00.

Zimmer Biomet (NYSE:ZBH - Get Free Report) had its price objective upped by equities researchers at BTIG Research from $118.00 to $122.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has a "buy" rating on the medical equipment provider's stock. BTIG Research's target price points to a potential upside of 28.71% from the company's previous close.

ZBH has been the topic of several other reports. Redburn Partners set a $130.00 target price on Zimmer Biomet in a research report on Thursday, September 18th. Raymond James Financial boosted their price target on shares of Zimmer Biomet from $104.00 to $113.00 and gave the stock an "outperform" rating in a research note on Friday, August 8th. Weiss Ratings restated a "hold (c-)" rating on shares of Zimmer Biomet in a research note on Wednesday, October 8th. Royal Bank Of Canada set a $111.00 price target on shares of Zimmer Biomet in a report on Friday. Finally, UBS Group increased their price objective on shares of Zimmer Biomet from $91.00 to $96.00 and gave the stock a "sell" rating in a research report on Friday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $113.16.

Zimmer Biomet Stock Down 2.6%

ZBH opened at $94.79 on Monday. The company has a current ratio of 1.87, a quick ratio of 0.96 and a debt-to-equity ratio of 0.54. The stock's fifty day simple moving average is $101.31 and its 200 day simple moving average is $98.15. Zimmer Biomet has a 1-year low of $89.22 and a 1-year high of $114.72. The stock has a market cap of $18.78 billion, a PE ratio of 23.06, a price-to-earnings-growth ratio of 2.18 and a beta of 0.67.

Zimmer Biomet (NYSE:ZBH - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The medical equipment provider reported $2.07 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.98 by $0.09. The company had revenue of $2.08 billion during the quarter, compared to the consensus estimate of $2.06 billion. Zimmer Biomet had a return on equity of 12.76% and a net margin of 10.51%.The firm's revenue was up 7.0% compared to the same quarter last year. During the same period last year, the company earned $2.01 earnings per share. Zimmer Biomet has set its FY 2025 guidance at 8.100-8.300 EPS. As a group, research analysts expect that Zimmer Biomet will post 8.22 earnings per share for the current year.

Insider Transactions at Zimmer Biomet

In other news, SVP Lori Winkler sold 1,500 shares of the company's stock in a transaction that occurred on Monday, September 8th. The stock was sold at an average price of $104.15, for a total value of $156,225.00. Following the completion of the transaction, the senior vice president owned 6,833 shares of the company's stock, valued at $711,656.95. This represents a 18.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 1.39% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in ZBH. Thomasville National Bank increased its stake in shares of Zimmer Biomet by 4.6% during the third quarter. Thomasville National Bank now owns 110,653 shares of the medical equipment provider's stock valued at $10,899,000 after buying an additional 4,848 shares during the period. Douglas Lane & Associates LLC grew its position in shares of Zimmer Biomet by 7.2% during the third quarter. Douglas Lane & Associates LLC now owns 431,360 shares of the medical equipment provider's stock worth $42,489,000 after purchasing an additional 29,011 shares in the last quarter. Benson Investment Management Company Inc. purchased a new stake in shares of Zimmer Biomet during the third quarter worth about $4,967,000. Board of the Pension Protection Fund bought a new position in Zimmer Biomet during the third quarter valued at approximately $197,000. Finally, Czech National Bank lifted its stake in shares of Zimmer Biomet by 4.0% in the 3rd quarter. Czech National Bank now owns 50,313 shares of the medical equipment provider's stock valued at $4,956,000 after purchasing an additional 1,952 shares during the last quarter. 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.

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