Barclays Issues Positive Forecast for Zimmer Biomet (NYSE:ZBH) Stock Price

Zimmer Biomet (NYSE:ZBH) had its price objective lifted by equities research analysts at Barclays from $100.00 to $115.00 in a research note issued to investors on Monday, Benzinga reports. The firm currently has an “equal weight” rating on the medical equipment provider’s stock. Barclays‘s price target suggests a potential upside of 7.47% from the stock’s previous close.

A number of other equities analysts have also issued reports on the stock. Argus reissued a “buy” rating and set a $125.00 price target on shares of Zimmer Biomet in a research report on Thursday, October 22nd. Weiss Ratings raised shares of Zimmer Biomet from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, September 14th. UBS Group increased their price objective on shares of Zimmer Biomet from $120.00 to $130.00 and gave the stock a “buy” rating in a research note on Thursday. Wells Fargo & Company raised their target price on shares of Zimmer Biomet from $103.00 to $113.00 and gave the stock an “equal weight” rating in a report on Thursday. Finally, Citigroup boosted their target price on shares of Zimmer Biomet from $99.00 to $117.00 and gave the company a “neutral” rating in a research report on Thursday. Seven equities research analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Zimmer Biomet currently has a consensus rating of “Hold” and a consensus price target of $112.74.

Zimmer Biomet Stock Performance

Shares of NYSE:ZBH traded up $1.42 during trading on Monday, hitting $107.00. The stock had a trading volume of 247,199 shares, compared to its average volume of 2,258,459. Zimmer Biomet has a 12-month low of $79.12 and a 12-month high of $112.54. The stock has a market capitalization of $20.41 billion, a price-to-earnings ratio of 27.06, a price-to-earnings-growth ratio of 2.48 and a beta of 0.50. The company has a quick ratio of 0.79, a current ratio of 1.46 and a debt-to-equity ratio of 0.49. The stock has a 50-day simple moving average of $95.13 and a two-hundred day simple moving average of $92.08.

Zimmer Biomet (NYSE:ZBH) last issued its earnings results on Wednesday, November 4th. The medical equipment provider reported $1.90 EPS for the quarter, beating analysts’ consensus estimates of $1.88 by $0.02. The firm had revenue of $2.06 billion for the quarter, compared to analyst estimates of $2.04 billion. Zimmer Biomet had a return on equity of 13.02% and a net margin of 8.95%. Zimmer Biomet’s revenue for the quarter was up 3.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.90 earnings per share. On average, equities research analysts expect that Zimmer Biomet will post 8.55 earnings per share for the current fiscal year.

Insider Activity at Zimmer Biomet

In other news, insider Kevin R. Thornal sold 5,691 shares of the stock in a transaction dated Friday, September 11th. The shares were sold at an average price of $92.95, for a total transaction of $528,978.45. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Chad F. Phipps sold 3,000 shares of the stock in a transaction that occurred on Friday, September 4th. The stock was sold at an average price of $98.35, for a total value of $295,050.00. Following the transaction, the insider owned 65,231 shares in the company, valued at $6,415,468.85. This represents a 4.40% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 1.28% of the stock is currently owned by company insiders.

Institutional Trading of Zimmer Biomet

Several institutional investors have recently modified their holdings of the stock. Tacita Capital Inc acquired a new position in shares of Zimmer Biomet during the 2nd quarter worth about $26,000. Ancora Advisors LLC purchased a new position in Zimmer Biomet in the 2nd quarter valued at about $29,000. Elevation Wealth Partners LLC boosted its holdings in Zimmer Biomet by 145.9% in the 2nd quarter. Elevation Wealth Partners LLC now owns 386 shares of the medical equipment provider’s stock worth $33,000 after buying an additional 229 shares during the last quarter. Cassaday & Co Wealth Management LLC acquired a new stake in Zimmer Biomet in the 1st quarter worth about $44,000. Finally, Parvin Asset Management LLC acquired a new stake in Zimmer Biomet in the 2nd quarter worth about $47,000. Institutional investors and hedge funds own 88.89% of the company’s stock.

About Zimmer Biomet

Zimmer Biomet Holdings, Inc develops and manufactures medical devices and technologies used in musculoskeletal care. Its products support orthopedic procedures involving the hip, knee, shoulder, and extremities, as well as trauma care, sports medicine, and related surgical applications.

The company also offers surgical technologies, including robotic and digital solutions designed to assist clinicians with planning and performing procedures. Its products and services are used by hospitals, surgeons, and other healthcare providers.

Headquartered in Warsaw, Indiana, Zimmer Biomet traces its history to Zimmer, founded in 1927.