Zimmer Biomet Holdings, Inc. (NYSE:ZBH) had its target price cut by analysts at Morgan Stanley from $146.00 to $136.00 in a research note issued on Thursday. The firm presently has an “overweight” rating on the medical equipment provider’s stock. Morgan Stanley’s price objective points to a potential upside of 11.82% from the company’s previous close.

Several other analysts also recently issued reports on the company. BMO Capital Markets restated a “buy” rating and issued a $136.00 price target on shares of Zimmer Biomet Holdings in a research note on Tuesday, July 11th. Wells Fargo & Company restated a “market weight” rating on shares of Zimmer Biomet Holdings in a research note on Friday, July 14th. Stifel Nicolaus restated a “hold” rating and issued a $125.00 price target on shares of Zimmer Biomet Holdings in a research note on Friday, July 14th. Zacks Investment Research downgraded Zimmer Biomet Holdings from a “hold” rating to a “sell” rating in a research note on Tuesday, August 1st. Finally, BidaskClub downgraded Zimmer Biomet Holdings from a “buy” rating to a “hold” rating in a research note on Monday, July 24th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. Zimmer Biomet Holdings has an average rating of “Hold” and a consensus price target of $135.60.

Zimmer Biomet Holdings (NYSE:ZBH) last released its quarterly earnings results on Wednesday, November 1st. The medical equipment provider reported $1.72 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.74 by ($0.02). The firm had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.83 billion. Zimmer Biomet Holdings had a net margin of 9.12% and a return on equity of 16.70%. The business’s revenue for the quarter was down .8% compared to the same quarter last year. During the same quarter last year, the firm earned $1.79 earnings per share.

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Several hedge funds have recently made changes to their positions in the stock. Fiduciary Trust Co. lifted its position in shares of Zimmer Biomet Holdings by 5.7% during the 3rd quarter. Fiduciary Trust Co. now owns 11,868 shares of the medical equipment provider’s stock worth $1,390,000 after buying an additional 637 shares during the last quarter. Oregon Public Employees Retirement Fund increased its holdings in Zimmer Biomet Holdings by 2.9% in the 3rd quarter. Oregon Public Employees Retirement Fund now owns 21,484 shares of the medical equipment provider’s stock worth $2,516,000 after purchasing an additional 615 shares in the last quarter. Nicolet Bankshares Inc. increased its holdings in Zimmer Biomet Holdings by 18.5% in the 3rd quarter. Nicolet Bankshares Inc. now owns 8,828 shares of the medical equipment provider’s stock worth $1,034,000 after purchasing an additional 1,381 shares in the last quarter. Prudential Financial Inc. increased its holdings in Zimmer Biomet Holdings by 1.2% in the 3rd quarter. Prudential Financial Inc. now owns 282,148 shares of the medical equipment provider’s stock worth $33,037,000 after purchasing an additional 3,470 shares in the last quarter. Finally, Armor Investment Advisors LLC increased its holdings in Zimmer Biomet Holdings by 31.9% in the 3rd quarter. Armor Investment Advisors LLC now owns 3,430 shares of the medical equipment provider’s stock worth $402,000 after purchasing an additional 830 shares in the last quarter. Institutional investors and hedge funds own 85.26% of the company’s stock.

About Zimmer Biomet Holdings

Zimmer Biomet Holdings, Inc is engaged in designing, manufacturing and marketing of orthopedic reconstructive products; sports medicine, biologics, extremities and trauma products; office-based technologies; spine, craniomaxillofacial and thoracic products; dental implants, and related surgical products.

Analyst Recommendations for Zimmer Biomet Holdings (NYSE:ZBH)

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