Zimmer Biomet (NYSE:ZBH) Stock Rating Upgraded by Wall Street Zen

Key Points

• Wall Street Zen upgraded Zimmer Biomet from “hold” to “buy,” even though the broader analyst view remains cautious with a consensus rating of “hold” and an average price target of $100.70.
• The company beat quarterly expectations with EPS of $2.09 versus the $1.86 estimate, while revenue rose 9.3% year over year to $2.09 billion.
• ZBH shares rose 1.9% and opened at $91.35, as investors also noted recent insider selling and continued heavy ownership by hedge funds and other institutions.

Zimmer Biomet (NYSE:ZBH - Get Free Report) was upgraded by investment analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a research note issued to investors on Saturday.

Several other analysts have also issued reports on ZBH. Citizens Jmp lowered their target price on Zimmer Biomet from $120.00 to $105.00 and set a "market outperform" rating on the stock in a research note on Wednesday, April 29th. Canaccord Genuity Group set a $83.00 price objective on Zimmer Biomet in a report on Wednesday, April 29th. Truist Financial restated a "hold" rating and issued a $92.00 price objective (down from $98.00) on shares of Zimmer Biomet in a research note on Wednesday, April 29th. Leerink Partners started coverage on shares of Zimmer Biomet in a research note on Monday, April 13th. They issued a "hold" rating and a $101.00 target price for the company. Finally, Weiss Ratings cut shares of Zimmer Biomet from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Monday. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, twelve have given a Hold rating and four have issued a Sell rating to the company's stock. According to data from MarketBeat, Zimmer Biomet currently has a consensus rating of "Hold" and an average price target of $100.70.

Zimmer Biomet Trading Up 1.9%

Shares of ZBH stock opened at $91.35 on Friday. The company has a 50 day moving average of $87.90 and a 200-day moving average of $89.81. The company has a quick ratio of 0.95, a current ratio of 1.73 and a debt-to-equity ratio of 0.50. Zimmer Biomet has a 12-month low of $79.12 and a 12-month high of $108.29. The firm has a market cap of $17.67 billion, a P/E ratio of 23.73, a PEG ratio of 2.64 and a beta of 0.46.

Zimmer Biomet (NYSE:ZBH - Get Free Report) last posted its quarterly earnings results on Tuesday, April 28th. The medical equipment provider reported $2.09 EPS for the quarter, topping analysts' consensus estimates of $1.86 by $0.23. Zimmer Biomet had a net margin of 9.05% and a return on equity of 13.24%. The company had revenue of $2.09 billion for the quarter, compared to analysts' expectations of $2.07 billion. During the same quarter in the previous year, the firm posted $1.81 EPS. Zimmer Biomet's revenue was up 9.3% on a year-over-year basis. Zimmer Biomet has set its FY 2026 guidance at 8.400-8.550 EPS. Sell-side analysts anticipate that Zimmer Biomet will post 8.48 earnings per share for the current year.

Insider Activity at Zimmer Biomet

In related news, insider Sang Yi sold 5,000 shares of the business's stock in a transaction that occurred on Friday, May 29th. The shares were sold at an average price of $82.64, for a total transaction of $413,200.00. Following the completion of the transaction, the insider owned 27,251 shares of the company's stock, valued at approximately $2,252,022.64. The trade was a 15.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.28% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. DV Equities LLC purchased a new stake in shares of Zimmer Biomet in the fourth quarter worth $25,000. Monetary Solutions Ltd purchased a new position in Zimmer Biomet during the fourth quarter worth about $30,000. Gen Wealth Partners Inc bought a new position in Zimmer Biomet in the 4th quarter worth about $31,000. Flagship Harbor Advisors LLC purchased a new stake in shares of Zimmer Biomet in the 4th quarter valued at about $32,000. Finally, Elevation Wealth Partners LLC boosted its position in shares of Zimmer Biomet by 145.9% during the 2nd quarter. Elevation Wealth Partners LLC now owns 386 shares of the medical equipment provider's stock valued at $33,000 after acquiring an additional 229 shares during the last quarter. 88.89% of the stock is currently owned by hedge funds and other institutional investors.

About Zimmer Biomet

Zimmer Biomet NYSE: ZBH is a global medical device company focused on musculoskeletal healthcare. Headquartered in Warsaw, Indiana, the company designs, manufactures and markets a broad portfolio of products used to treat joint disorders, bone disorders and related conditions. Its customer base includes orthopaedic and dental surgeons, hospitals, ambulatory surgery centers and other healthcare providers that rely on implants, instruments and related services for reconstructive and restorative procedures.

The company's product offerings span joint replacement systems for hips, knees and shoulders; trauma and extremities implants; spine and thoracic solutions; dental and craniomaxillofacial implants and prosthetics; and sports medicine devices.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.