SunTrust Banks Raises Zimmer Biomet (ZBH) Price Target to $142.00

Zimmer Biomet (NYSE:ZBH) had its price objective increased by analysts at SunTrust Banks to $142.00 in a report released on Monday. The brokerage presently has a “buy” rating on the medical equipment provider’s stock. SunTrust Banks’ price target suggests a potential upside of 11.47% from the stock’s previous close.

Several other research firms have also commented on ZBH. Morgan Stanley raised their target price on Zimmer Biomet from $140.00 to $150.00 in a report on Monday. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Zimmer Biomet in a report on Friday, January 5th. Canaccord Genuity reaffirmed a “hold” rating and set a $132.00 target price on shares of Zimmer Biomet in a report on Friday, January 5th. ValuEngine raised Zimmer Biomet from a “hold” rating to a “buy” rating in a report on Thursday, January 11th. Finally, BMO Capital Markets dropped their target price on Zimmer Biomet from $140.00 to $135.00 and set an “outperform” rating on the stock in a report on Thursday, November 2nd. Two research analysts have rated the stock with a sell rating, five have given a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $138.47.

Zimmer Biomet (ZBH) traded up $1.21 during trading on Monday, reaching $127.39. The company had a trading volume of 2,540,000 shares, compared to its average volume of 1,430,000. The firm has a market capitalization of $25,790.00, a price-to-earnings ratio of 39.69, a price-to-earnings-growth ratio of 1.97 and a beta of 1.15. Zimmer Biomet has a 12-month low of $108.03 and a 12-month high of $133.49. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.78 and a current ratio of 1.47.

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

A number of hedge funds have recently modified their holdings of ZBH. Longview Partners Guernsey LTD lifted its position in shares of Zimmer Biomet by 17.7% in the third quarter. Longview Partners Guernsey LTD now owns 7,506,684 shares of the medical equipment provider’s stock valued at $878,958,000 after acquiring an additional 1,128,973 shares in the last quarter. Koch Industries Inc. lifted its position in shares of Zimmer Biomet by 49,697.3% in the second quarter. Koch Industries Inc. now owns 1,040,764 shares of the medical equipment provider’s stock valued at $1,033,000 after acquiring an additional 1,038,674 shares in the last quarter. Alyeska Investment Group L.P. lifted its position in shares of Zimmer Biomet by 249.3% in the third quarter. Alyeska Investment Group L.P. now owns 1,019,872 shares of the medical equipment provider’s stock valued at $119,417,000 after acquiring an additional 727,925 shares in the last quarter. Jana Partners LLC lifted its position in shares of Zimmer Biomet by 16.6% in the third quarter. Jana Partners LLC now owns 4,662,497 shares of the medical equipment provider’s stock valued at $545,932,000 after acquiring an additional 662,497 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in shares of Zimmer Biomet by 24.4% in the third quarter. Bank of New York Mellon Corp now owns 2,759,704 shares of the medical equipment provider’s stock valued at $323,134,000 after acquiring an additional 541,102 shares in the last quarter. Institutional investors own 86.20% of the company’s stock.

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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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