Zimmer Biomet (ZBH) Given a $135.00 Price Target at Oppenheimer

Zimmer Biomet (NYSE:ZBH) has been assigned a $135.00 price target by Oppenheimer in a research note issued to investors on Thursday. The brokerage currently has a “buy” rating on the medical equipment provider’s stock. Oppenheimer’s price target indicates a potential upside of 20.55% from the stock’s current price.

ZBH has been the subject of a number of other reports. Zacks Investment Research lowered shares of Zimmer Biomet from a “hold” rating to a “sell” rating in a research note on Wednesday, October 17th. Morgan Stanley upped their price objective on shares of Zimmer Biomet from $140.00 to $149.00 and gave the company an “overweight” rating in a research note on Thursday, October 11th. UBS Group initiated coverage on shares of Zimmer Biomet in a research note on Tuesday, November 27th. They set a “buy” rating and a $140.00 price objective for the company. Jefferies Financial Group reduced their price objective on shares of Zimmer Biomet from $145.00 to $140.00 and set a “buy” rating for the company in a research note on Monday, October 29th. Finally, Barclays initiated coverage on shares of Zimmer Biomet in a research note on Monday, October 15th. They set an “underweight” rating and a $131.00 price objective for the company. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and thirteen have issued a buy rating to the company’s stock. Zimmer Biomet currently has a consensus rating of “Hold” and a consensus target price of $134.90.

ZBH stock opened at $111.99 on Thursday. The company has a quick ratio of 0.96, a current ratio of 1.89 and a debt-to-equity ratio of 0.70. Zimmer Biomet has a one year low of $104.28 and a one year high of $134.55. The stock has a market cap of $23.87 billion, a price-to-earnings ratio of 13.95, a PEG ratio of 2.36 and a beta of 1.16.

Zimmer Biomet (NYSE:ZBH) last posted its quarterly earnings data on Friday, October 26th. The medical equipment provider reported $1.63 EPS for the quarter, beating analysts’ consensus estimates of $1.60 by $0.03. Zimmer Biomet had a net margin of 22.42% and a return on equity of 12.88%. The company had revenue of $1.84 billion during the quarter, compared to analyst estimates of $1.84 billion. During the same period in the prior year, the firm earned $1.72 earnings per share. The business’s quarterly revenue was up 1.3% on a year-over-year basis. Sell-side analysts predict that Zimmer Biomet will post 7.64 EPS for the current year.

In other news, VP Chad F. Phipps sold 30,100 shares of the company’s stock in a transaction dated Friday, September 21st. The stock was sold at an average price of $132.37, for a total value of $3,984,337.00. The sale was disclosed in a filing with the SEC, which is accessible through this link. 0.71% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in Zimmer Biomet by 1.6% in the third quarter. Vanguard Group Inc. now owns 14,511,433 shares of the medical equipment provider’s stock worth $1,907,818,000 after buying an additional 228,894 shares during the last quarter. Legal & General Group Plc increased its holdings in Zimmer Biomet by 5.9% in the third quarter. Legal & General Group Plc now owns 1,041,748 shares of the medical equipment provider’s stock worth $136,922,000 after buying an additional 58,022 shares during the last quarter. Kepos Capital LP increased its holdings in Zimmer Biomet by 14.3% in the third quarter. Kepos Capital LP now owns 49,805 shares of the medical equipment provider’s stock worth $6,548,000 after buying an additional 6,231 shares during the last quarter. Rehmann Capital Advisory Group increased its holdings in Zimmer Biomet by 14,438.4% in the third quarter. Rehmann Capital Advisory Group now owns 52,193 shares of the medical equipment provider’s stock worth $397,000 after buying an additional 51,834 shares during the last quarter. Finally, TIAA CREF Investment Management LLC increased its holdings in Zimmer Biomet by 9.7% in the third quarter. TIAA CREF Investment Management LLC now owns 2,690,018 shares of the medical equipment provider’s stock worth $353,657,000 after buying an additional 238,182 shares during the last quarter. Institutional investors own 87.92% of the company’s stock.

Zimmer Biomet Company Profile

Zimmer Biomet Holdings, Inc, together with its subsidiaries, designs, manufactures, and markets musculoskeletal healthcare products and solutions in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. It operates through four segments: Spine, less Asia Pacific; Office Based Technologies; Craniomaxillofacial and Thoracic; and Dental.

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Analyst Recommendations for Zimmer Biomet (NYSE:ZBH)

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