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

Zimmer Biomet (NYSE:ZBH - Get Free Report) had its target price lowered by analysts at Evercore ISI from $102.00 to $96.00 in a research report issued on Tuesday,Benzinga reports. The firm currently has an "in-line" rating on the medical equipment provider's stock. Evercore ISI's price objective indicates a potential upside of 0.88% from the stock's current price.

A number of other equities analysts also recently commented on ZBH. JMP Securities decreased their target price on Zimmer Biomet from $140.00 to $125.00 and set a "market outperform" rating for the company in a report on Wednesday, May 7th. Canaccord Genuity Group decreased their target price on Zimmer Biomet from $115.00 to $101.00 and set a "hold" rating for the company in a report on Monday, May 12th. Stifel Nicolaus set a $115.00 target price on Zimmer Biomet and gave the company a "buy" rating in a report on Tuesday, May 6th. Wells Fargo & Company decreased their price objective on Zimmer Biomet from $113.00 to $98.00 and set an "equal weight" rating for the company in a report on Tuesday, May 6th. Finally, Truist Financial set a $101.00 price target on Zimmer Biomet in a report on Tuesday, May 6th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $110.56.

Zimmer Biomet Trading Up 1.8%

ZBH stock traded up $1.69 during midday trading on Tuesday, hitting $95.16. The company had a trading volume of 2,769,743 shares, compared to its average volume of 1,817,176. The company has a current ratio of 2.44, a quick ratio of 1.46 and a debt-to-equity ratio of 0.53. The stock has a market cap of $18.83 billion, a price-to-earnings ratio of 21.05, a PEG ratio of 2.16 and a beta of 0.71. The stock's 50 day moving average price is $93.67 and its 200 day moving average price is $101.57. Zimmer Biomet has a 52 week low of $89.22 and a 52 week high of $116.71.

Zimmer Biomet (NYSE:ZBH - Get Free Report) last announced 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 company 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 firm's revenue for the quarter was up 1.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.94 earnings per share. As a group, equities research analysts expect that Zimmer Biomet will post 8.22 earnings per share for the current fiscal year.

Insider Buying and Selling at Zimmer Biomet

In other news, insider Sang Yi sold 1,000 shares of Zimmer Biomet stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $95.00, for a total transaction of $95,000.00. Following the transaction, the insider directly owned 20,424 shares of the company's stock, valued at $1,940,280. The trade was a 4.67% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.39% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in ZBH. Garde Capital Inc. purchased a new position in shares of Zimmer Biomet during the 1st quarter valued at about $29,000. Menard Financial Group LLC purchased a new position in shares of Zimmer Biomet during the 4th quarter valued at about $30,000. Washington Trust Advisors Inc. purchased a new position in shares of Zimmer Biomet during the 1st quarter valued at about $30,000. Columbia River Financial Group LLC purchased a new position in shares of Zimmer Biomet during the 1st quarter valued at about $30,000. Finally, Accent Capital Management LLC purchased a new position in shares of Zimmer Biomet during the 1st quarter valued at about $35,000. 88.89% of the stock is owned by hedge funds and other institutional investors.

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.