Zimmer Biomet (ZBH) Given Hold Rating at Canaccord Genuity

Zimmer Biomet (NYSE:ZBH)‘s stock had its “hold” rating reaffirmed by investment analysts at Canaccord Genuity in a research note issued to investors on Friday. They currently have a $132.00 price objective on the medical equipment provider’s stock. Canaccord Genuity’s target price would indicate a potential upside of 5.82% from the stock’s current price.

A number of other research analysts also recently commented on the stock. Cantor Fitzgerald reissued an “overweight” rating on shares of Zimmer Biomet in a research report on Friday. Goldman Sachs Group raised shares of Zimmer Biomet from a “sell” rating to a “neutral” rating and set a $125.00 price objective for the company in a research report on Tuesday, December 19th. Oppenheimer reissued a “buy” rating on shares of Zimmer Biomet in a research report on Tuesday, December 19th. Wells Fargo & Co raised shares of Zimmer Biomet from a “market perform” rating to an “outperform” rating in a research report on Tuesday, December 19th. Finally, BMO Capital Markets reaffirmed a “buy” rating and set a $142.00 target price on shares of Zimmer Biomet in a report on Tuesday, December 12th. Two analysts have rated the stock with a sell rating, six have issued a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $137.25.

Shares of Zimmer Biomet (NYSE ZBH) traded down $0.18 during mid-day trading on Friday, reaching $124.74. 1,073,100 shares of the company’s stock traded hands, compared to its average volume of 1,389,300. The company has a quick ratio of 0.78, a current ratio of 1.47 and a debt-to-equity ratio of 0.88. Zimmer Biomet has a 12-month low of $103.62 and a 12-month high of $133.49. The firm has a market cap of $25,260.00, a price-to-earnings ratio of 38.86, a P/E/G ratio of 1.94 and a beta of 1.15.

Zimmer Biomet (NYSE:ZBH) last issued its quarterly earnings results on Wednesday, November 1st. The medical equipment provider reported $1.72 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.74 by ($0.02). Zimmer Biomet had a net margin of 8.36% and a return on equity of 16.29%. The business had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.83 billion. During the same quarter in the previous year, the firm posted $1.79 earnings per share. The firm’s quarterly revenue was down .8% on a year-over-year basis. equities analysts expect that Zimmer Biomet will post 8.03 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Bronfman E.L. Rothschild L.P. raised its holdings in shares of Zimmer Biomet by 25.3% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 827 shares of the medical equipment provider’s stock valued at $106,000 after purchasing an additional 167 shares during the last quarter. Bank of Nova Scotia Trust Co. bought a new stake in Zimmer Biomet during the third quarter valued at approximately $112,000. FNY Managed Accounts LLC bought a new stake in Zimmer Biomet during the third quarter valued at approximately $117,000. Steward Partners Investment Advisory LLC bought a new stake in Zimmer Biomet during the third quarter valued at approximately $140,000. Finally, BB&T Investment Services Inc. bought a new stake in Zimmer Biomet during the second quarter valued at approximately $144,000. 85.92% of the stock is owned by hedge funds and other institutional investors.

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About Zimmer Biomet

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 (NYSE:ZBH)

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