Zimmer Biomet's (ZBH) Hold Rating Reaffirmed at Canaccord Genuity Group

Key Points

• Canaccord Genuity Group has reaffirmed a "hold" rating on Zimmer Biomet (ZBH) with a price target of $101.00, indicating a potential downside of 5.49% from the stock's previous close.
• Recently, multiple brokerages have adjusted their ratings for ZBH, with BTIG Research raising its target to $122.00 and Royal Bank Of Canada setting it at $111.00.
• Zimmer Biomet's stock has seen a 4.1% increase in value, reaching $106.87, and the company reported a quarterly earnings per share of $2.07, exceeding analysts' expectations.

Zimmer Biomet (NYSE:ZBH - Get Free Report)'s stock had its "hold" rating restated by research analysts at Canaccord Genuity Group in a report issued on Wednesday,Benzinga reports. They currently have a $101.00 price target on the medical equipment provider's stock. Canaccord Genuity Group's price objective suggests a potential downside of 5.49% from the stock's previous close.

A number of other brokerages have also recently weighed in on ZBH. BTIG Research upped their price objective on Zimmer Biomet from $118.00 to $122.00 and gave the stock a "buy" rating in a research note on Monday, October 13th. Royal Bank Of Canada set a $111.00 target price on Zimmer Biomet in a research report on Friday, October 10th. UBS Group upped their target price on Zimmer Biomet from $91.00 to $96.00 and gave the company a "sell" rating in a research report on Friday, August 8th. Evercore ISI reduced their target price on Zimmer Biomet from $106.00 to $104.00 and set an "in-line" rating on the stock in a research report on Tuesday, October 7th. Finally, Raymond James Financial upped their target price on Zimmer Biomet from $104.00 to $113.00 and gave the company an "outperform" rating in a research report on Friday, August 8th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, Zimmer Biomet currently has an average rating of "Hold" and an average target price of $111.94.

Zimmer Biomet Stock Up 4.1%

Shares of NYSE ZBH traded up $4.18 during mid-day trading on Wednesday, reaching $106.87. 518,047 shares of the company were exchanged, compared to its average volume of 1,891,330. The company has a quick ratio of 0.96, a current ratio of 1.87 and a debt-to-equity ratio of 0.54. The stock has a market cap of $21.17 billion, a price-to-earnings ratio of 25.89, a P/E/G ratio of 2.36 and a beta of 0.67. Zimmer Biomet has a 1 year low of $89.22 and a 1 year high of $114.72. The firm has a 50-day moving average of $101.82 and a 200 day moving average of $97.68.

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 for the quarter, topping analysts' consensus estimates of $1.98 by $0.09. The firm had revenue of $2.08 billion during the quarter, compared to analysts' expectations of $2.06 billion. Zimmer Biomet had a return on equity of 12.76% and a net margin of 10.51%.The firm's quarterly revenue was up 7.0% on a year-over-year basis. During the same period in the prior year, the business posted $2.01 EPS. Zimmer Biomet has set its FY 2025 guidance at 8.100-8.300 EPS. On average, research analysts expect that Zimmer Biomet will post 8.22 earnings per share for the current year.

Insider Activity at Zimmer Biomet

In other news, SVP Lori Winkler sold 1,500 shares of the company's stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $104.15, for a total value of $156,225.00. Following the sale, the senior vice president owned 6,833 shares in the company, valued at $711,656.95. This represents a 18.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.70% of the stock is owned by insiders.

Institutional Trading of Zimmer Biomet

A number of hedge funds have recently modified their holdings of the stock. Washington Trust Advisors Inc. purchased a new position in Zimmer Biomet during the first quarter worth approximately $30,000. Columbia River Financial Group LLC purchased a new position in Zimmer Biomet during the first quarter worth approximately $30,000. Cary Street Partners Investment Advisory LLC boosted its position in Zimmer Biomet by 83.7% during the second quarter. Cary Street Partners Investment Advisory LLC now owns 327 shares of the medical equipment provider's stock worth $30,000 after purchasing an additional 149 shares in the last quarter. Accent Capital Management LLC purchased a new position in Zimmer Biomet during the first quarter worth approximately $35,000. Finally, Mather Group LLC. purchased a new position in shares of Zimmer Biomet in the third quarter valued at approximately $36,000. Hedge funds and other 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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