Evercore ISI Cuts Zimmer Biomet (NYSE:ZBH) Price Target to $96.00

Zimmer Biomet (NYSE:ZBH - Get Free Report) had its price target lowered by equities researchers at Evercore ISI from $102.00 to $96.00 in a research note issued on Tuesday,Benzinga reports. The brokerage currently has an "in-line" rating on the medical equipment provider's stock. Evercore ISI's target price suggests a potential upside of 2.26% from the company's previous close.

ZBH has been the subject of a number of other reports. BTIG Research restated a "buy" rating on shares of Zimmer Biomet in a research report on Monday, April 14th. Stifel Nicolaus set a $115.00 price target on Zimmer Biomet and gave the stock a "buy" rating in a research report on Tuesday, May 6th. JMP Securities lowered their price target on Zimmer Biomet from $140.00 to $125.00 and set a "market outperform" rating for the company in a research report on Wednesday, May 7th. Raymond James Financial lowered their price target on Zimmer Biomet from $119.00 to $104.00 and set an "outperform" rating for the company in a research report on Tuesday, May 6th. Finally, Robert W. Baird lowered their price target on Zimmer Biomet from $130.00 to $115.00 and set an "outperform" rating for the company in a research report on Tuesday, May 6th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, Zimmer Biomet has an average rating of "Hold" and an average target price of $110.00.

Zimmer Biomet Price Performance

Shares of NYSE ZBH traded down $1.27 during midday trading on Tuesday, reaching $93.88. 1,573,583 shares of the stock traded hands, compared to its average volume of 1,825,360. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.44 and a quick ratio of 1.46. The stock has a market capitalization of $18.57 billion, a PE ratio of 20.77, a P/E/G ratio of 2.20 and a beta of 0.71. Zimmer Biomet has a one year low of $89.22 and a one year high of $116.71. The company's 50 day moving average is $93.21 and its 200 day moving average is $101.35.

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. The firm had revenue of $1.91 billion during the quarter, compared to the consensus estimate of $1.89 billion. Zimmer Biomet had a return on equity of 12.73% and a net margin of 11.86%. The company's quarterly revenue was up 1.1% compared to the same quarter last year. During the same period in the prior year, the company earned $1.94 EPS. On average, equities research analysts anticipate that Zimmer Biomet will post 8.22 earnings per share for the current year.

Insiders Place Their Bets

In other Zimmer Biomet news, insider Sang Yi sold 1,000 shares of the stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $95.00, for a total value of $95,000.00. Following the sale, the insider owned 20,424 shares in the company, valued at $1,940,280. This trade represents a 4.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.39% of the stock is currently owned by insiders.

Institutional Trading of Zimmer Biomet

Hedge funds and other institutional investors have recently bought and sold shares of the business. Garde Capital Inc. purchased a new position in shares of Zimmer Biomet during the first quarter valued at $29,000. Washington Trust Advisors Inc. purchased a new position in shares of Zimmer Biomet during the first quarter valued at $30,000. Columbia River Financial Group LLC purchased a new position in shares of Zimmer Biomet during the first quarter valued at $30,000. Menard Financial Group LLC purchased a new position in shares of Zimmer Biomet during the fourth quarter valued at $30,000. Finally, Accent Capital Management LLC purchased a new position in shares of Zimmer Biomet during the first quarter valued at $35,000. Hedge funds and other institutional investors 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.