Jefferies Financial Group Lowers Zimmer Biomet (ZBH) Price Target to $140.00

Zimmer Biomet (NYSE:ZBH) had its price target dropped by Jefferies Financial Group from $145.00 to $140.00 in a report issued on Monday. The firm currently has a “buy” rating on the medical equipment provider’s stock. Jefferies Financial Group’s target price would indicate a potential upside of 22.19% from the stock’s previous close.

Several other brokerages also recently issued reports on ZBH. Zacks Investment Research downgraded Zimmer Biomet from a “hold” rating to a “sell” rating in a research report on Wednesday, October 17th. Raymond James raised their price target on Zimmer Biomet from $135.00 to $145.00 and gave the company an “outperform” rating in a research report on Monday, July 30th. Robert W. Baird raised their price target on Zimmer Biomet from $121.00 to $132.00 and gave the company a “neutral” rating in a research report on Monday, July 30th. Citigroup raised their price target on Zimmer Biomet from $117.00 to $128.00 and gave the company a “neutral” rating in a research report on Tuesday, July 31st. Finally, Piper Jaffray Companies raised their price target on Zimmer Biomet from $110.00 to $120.00 and gave the company a “neutral” rating in a research report on Monday, July 30th. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and fifteen have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $133.86.

Zimmer Biomet stock opened at $114.58 on Monday. The firm has a market cap of $23.43 billion, a price-to-earnings ratio of 14.27, a price-to-earnings-growth ratio of 2.11 and a beta of 1.08. Zimmer Biomet has a one year low of $104.28 and a one year high of $134.55. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.96 and a current ratio of 1.89.

Zimmer Biomet (NYSE:ZBH) last issued its quarterly earnings results on Friday, October 26th. The medical equipment provider reported $1.63 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.60 by $0.03. The company had revenue of $1.84 billion for the quarter, compared to the consensus estimate of $1.84 billion. Zimmer Biomet had a return on equity of 12.88% and a net margin of 22.42%. The firm’s revenue was up 1.3% compared to the same quarter last year. During the same period last year, the business posted $1.72 earnings per share. On average, sell-side analysts predict that Zimmer Biomet will post 7.66 EPS for the current fiscal year.

In other news, CEO Bryan C. Hanson bought 410 shares of the firm’s stock in a transaction that occurred on Friday, August 31st. The shares were acquired at an average cost of $123.03 per share, with a total value of $50,442.30. Following the completion of the transaction, the chief executive officer now directly owns 25,487 shares in the company, valued at $3,135,665.61. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Chad F. Phipps sold 30,100 shares of Zimmer Biomet 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 disclosure for this sale can be found here. 0.71% of the stock is owned by company insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Focused Investors LLC lifted its stake in Zimmer Biomet by 0.3% during the second quarter. Focused Investors LLC now owns 1,206,500 shares of the medical equipment provider’s stock worth $134,452,000 after purchasing an additional 4,000 shares during the period. Fred Alger Management Inc. lifted its stake in Zimmer Biomet by 48.6% during the second quarter. Fred Alger Management Inc. now owns 1,194,763 shares of the medical equipment provider’s stock worth $133,144,000 after purchasing an additional 390,517 shares during the period. Jennison Associates LLC lifted its stake in Zimmer Biomet by 3.9% during the second quarter. Jennison Associates LLC now owns 1,086,278 shares of the medical equipment provider’s stock worth $121,055,000 after purchasing an additional 40,848 shares during the period. Morgan Stanley lifted its stake in Zimmer Biomet by 19.4% during the second quarter. Morgan Stanley now owns 1,040,927 shares of the medical equipment provider’s stock worth $116,000,000 after purchasing an additional 168,807 shares during the period. Finally, Legal & General Group Plc lifted its stake in Zimmer Biomet by 2.3% during the second quarter. Legal & General Group Plc now owns 983,726 shares of the medical equipment provider’s stock worth $109,634,000 after purchasing an additional 21,825 shares during the period. Hedge funds and other institutional investors own 86.58% 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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