Evercore ISI Issues Pessimistic Forecast for Zimmer Biomet (NYSE:ZBH) Stock Price

Zimmer Biomet (NYSE:ZBH - Get Free Report) had its target price lowered by equities research analysts at Evercore ISI from $102.00 to $96.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has an "in-line" rating on the medical equipment provider's stock. Evercore ISI's price objective would indicate a potential upside of 0.89% from the stock's current price.

Several other equities analysts have also issued reports on the stock. Stifel Nicolaus set a $115.00 target price on shares of Zimmer Biomet and gave the company a "buy" rating in a report on Tuesday, May 6th. JPMorgan Chase & Co. lowered their target price on shares of Zimmer Biomet from $128.00 to $105.00 and set an "overweight" rating for the company in a report on Tuesday, May 6th. Robert W. Baird lowered their target price on shares of Zimmer Biomet from $130.00 to $115.00 and set an "outperform" rating for the company in a report on Tuesday, May 6th. Royal Bank Of Canada decreased their price objective on shares of Zimmer Biomet from $125.00 to $112.00 and set an "outperform" rating for the company in a report on Tuesday, May 6th. Finally, Raymond James Financial decreased their price objective on shares of Zimmer Biomet from $119.00 to $104.00 and set an "outperform" rating for the company in a report on Tuesday, May 6th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and eight have assigned a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $110.56.

Zimmer Biomet Stock Down 0.1%

ZBH traded down $0.05 on Tuesday, hitting $95.15. The company had a trading volume of 2,345,902 shares, compared to its average volume of 1,819,283. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.44 and a quick ratio of 1.46. Zimmer Biomet has a 52-week low of $89.22 and a 52-week high of $116.71. The stock has a fifty day simple moving average of $93.51 and a 200-day simple moving average of $101.52. The firm has a market capitalization of $18.83 billion, a P/E ratio of 21.05, a P/E/G ratio of 2.16 and a beta of 0.71.

Zimmer Biomet (NYSE:ZBH - Get Free Report) last released its earnings results on Monday, May 5th. The medical equipment provider reported $1.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.77 by $0.04. Zimmer Biomet had a net margin of 11.86% and a return on equity of 12.73%. The firm had revenue of $1.91 billion during the quarter, compared to analyst estimates of $1.89 billion. During the same period last year, the business earned $1.94 earnings per share. The business's revenue was up 1.1% on a year-over-year basis. As a group, equities analysts expect that Zimmer Biomet will post 8.22 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Sang Yi sold 1,000 shares of the company's stock in a transaction 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 transaction, the insider owned 20,424 shares of the company's stock, valued at approximately $1,940,280. This represents a 4.67% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 1.39% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in Zimmer Biomet by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 23,052,925 shares of the medical equipment provider's stock worth $2,609,130,000 after buying an additional 166,763 shares during the period. Dodge & Cox boosted its holdings in Zimmer Biomet by 2.3% in the 1st quarter. Dodge & Cox now owns 19,564,454 shares of the medical equipment provider's stock worth $2,214,305,000 after buying an additional 446,018 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in Zimmer Biomet by 1.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 14,760,444 shares of the medical equipment provider's stock worth $1,559,147,000 after purchasing an additional 176,337 shares in the last quarter. Ameriprise Financial Inc. lifted 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 worth $517,039,000 after purchasing an additional 3,208,596 shares in the last quarter. Finally, Franklin Resources Inc. lifted its stake in Zimmer Biomet by 398.7% in the 4th quarter. Franklin Resources Inc. now owns 3,497,764 shares of the medical equipment provider's stock worth $369,469,000 after purchasing an additional 2,796,372 shares in the last quarter. 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.