Cantor Fitzgerald reaffirmed their buy rating on shares of Zimmer Biomet (NYSE:ZBH) in a report released on Monday morning. They currently have a $150.00 target price on the medical equipment provider’s stock.
“We rate ZBH shares Overweight and have a 12-month price target of $150. ZBH has started a new era with recently hired the CEO of 10 years resigned in July. Under the new CEO near-term challenges persist, but we would expect the company to benefit from Hanson’s broader medtech background. ZBH is the least expensive large-cap medtech stock on a P/E basis, currently trading at a discount to the S&P. We believe the risk/reward is attractive at these levels and think there could be significant upside to shares if ZBH posts a couple of quarters of accelerating growth.”,” Cantor Fitzgerald’s analyst wrote.
A number of other research analysts also recently issued reports on ZBH. Zacks Investment Research downgraded shares of Zimmer Biomet from a hold rating to a sell rating in a research report on Monday, July 2nd. Piper Jaffray Companies lifted their price objective on shares of Zimmer Biomet from $110.00 to $120.00 and gave the stock a neutral rating in a research report on Monday, July 30th. Oppenheimer reaffirmed a buy rating and issued a $138.00 price objective (up previously from $130.00) on shares of Zimmer Biomet in a research report on Friday, July 27th. Raymond James boosted their target price on shares of Zimmer Biomet from $135.00 to $145.00 and gave the stock an outperform rating in a research report on Monday, July 30th. Finally, BTIG Research began coverage on shares of Zimmer Biomet in a research report on Thursday, August 16th. They set a neutral rating on the stock. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and fifteen have issued a buy rating to the stock. Zimmer Biomet presently has an average rating of Buy and a consensus price target of $135.10.
Shares of Zimmer Biomet stock opened at $123.77 on Monday. The company has a current ratio of 2.41, a quick ratio of 1.25 and a debt-to-equity ratio of 0.78. Zimmer Biomet has a 52-week low of $104.28 and a 52-week high of $129.34. The company has a market capitalization of $25.50 billion, a PE ratio of 15.41, a PEG ratio of 2.28 and a beta of 1.13.
Zimmer Biomet (NYSE:ZBH) last issued its quarterly earnings data on Friday, July 27th. The medical equipment provider reported $1.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.88 by $0.04. Zimmer Biomet had a net margin of 21.67% and a return on equity of 13.53%. The firm had revenue of $2.01 billion for the quarter, compared to the consensus estimate of $1.99 billion. During the same quarter in the previous year, the firm earned $2.08 EPS. The company’s quarterly revenue was up 3.0% compared to the same quarter last year. equities research analysts expect that Zimmer Biomet will post 7.67 earnings per share for the current fiscal year.
In other news, VP Tony W. Collins sold 2,778 shares of the company’s stock in a transaction on Tuesday, July 31st. The shares were sold at an average price of $125.77, for a total value of $349,389.06. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.71% of the stock is owned by corporate insiders.
Several hedge funds have recently added to or reduced their stakes in ZBH. Global X Management Co. LLC boosted its holdings in shares of Zimmer Biomet by 7.5% in the 1st quarter. Global X Management Co. LLC now owns 8,398 shares of the medical equipment provider’s stock valued at $916,000 after acquiring an additional 586 shares during the last quarter. Wells Fargo & Company MN lifted its stake in shares of Zimmer Biomet by 13.1% in the 1st quarter. Wells Fargo & Company MN now owns 2,312,443 shares of the medical equipment provider’s stock valued at $252,149,000 after purchasing an additional 268,068 shares during the period. Miracle Mile Advisors LLC acquired a new position in shares of Zimmer Biomet in the 1st quarter valued at $545,000. NuWave Investment Management LLC lifted its stake in shares of Zimmer Biomet by 9,443.2% in the 1st quarter. NuWave Investment Management LLC now owns 4,199 shares of the medical equipment provider’s stock valued at $454,000 after purchasing an additional 4,155 shares during the period. Finally, Dynamic Advisor Solutions LLC lifted its stake in shares of Zimmer Biomet by 14.0% in the 1st quarter. Dynamic Advisor Solutions LLC now owns 5,144 shares of the medical equipment provider’s stock valued at $561,000 after purchasing an additional 633 shares during the period. 87.19% of the stock is currently owned by institutional investors and hedge funds.
About Zimmer Biomet
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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