Citigroup Has Lowered Expectations for Zimmer Biomet (NYSE:ZBH) Stock Price

Zimmer Biomet (NYSE:ZBH) had its target price decreased by Citigroup from $98.00 to $94.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the medical equipment provider’s stock. Citigroup’s price objective points to a potential upside of 2.62% from the company’s previous close.

A number of other equities analysts have also recently issued reports on the company. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $100.00 price objective (down from $115.00) on shares of Zimmer Biomet in a report on Thursday, November 6th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Zimmer Biomet in a report on Wednesday, October 8th. Wall Street Zen cut shares of Zimmer Biomet from a “buy” rating to a “hold” rating in a report on Sunday, November 16th. Evercore ISI decreased their target price on Zimmer Biomet from $106.00 to $104.00 and set an “in-line” rating for the company in a research report on Tuesday, October 7th. Finally, Redburn Partners set a $130.00 price target on shares of Zimmer Biomet in a research note on Thursday, September 18th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, ten have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $108.25.

Zimmer Biomet Stock Performance

Shares of ZBH opened at $91.60 on Thursday. The firm has a market cap of $18.15 billion, a PE ratio of 22.67, a PEG ratio of 2.43 and a beta of 0.61. Zimmer Biomet has a 1 year low of $85.33 and a 1 year high of $114.44. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.43 and a quick ratio of 1.39. The stock’s fifty day moving average price is $95.64 and its two-hundred day moving average price is $96.70.

Zimmer Biomet (NYSE:ZBH) last announced its quarterly earnings results on Wednesday, November 5th. The medical equipment provider reported $1.90 earnings per share for the quarter, beating the consensus estimate of $1.88 by $0.02. Zimmer Biomet had a return on equity of 12.85% and a net margin of 10.05%.The company had revenue of $2 billion during the quarter, compared to analysts’ expectations of $2.01 billion. During the same period in the previous year, the business earned $1.74 earnings per share. The firm’s quarterly revenue was up 9.6% compared to the same quarter last year. Zimmer Biomet has set its FY 2025 guidance at 8.100-8.300 EPS. On average, equities research analysts forecast that Zimmer Biomet will post 8.22 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in ZBH. Ameriprise Financial Inc. lifted its position in shares of Zimmer Biomet by 236.0% in the first quarter. Ameriprise Financial Inc. now owns 4,568,287 shares of the medical equipment provider’s stock valued at $517,039,000 after acquiring an additional 3,208,596 shares in the last quarter. Dodge & Cox boosted its holdings in Zimmer Biomet by 12.9% in the 2nd quarter. Dodge & Cox now owns 22,097,463 shares of the medical equipment provider’s stock valued at $2,015,510,000 after purchasing an additional 2,533,009 shares during the last quarter. Norges Bank purchased a new position in Zimmer Biomet in the second quarter worth approximately $225,867,000. JPMorgan Chase & Co. increased its position in shares of Zimmer Biomet by 251.3% during the 1st quarter. JPMorgan Chase & Co. now owns 2,081,381 shares of the medical equipment provider’s stock worth $235,571,000 after purchasing an additional 1,488,918 shares during the last quarter. Finally, AQR Capital Management LLC increased its position in shares of Zimmer Biomet by 276.6% during the second quarter. AQR Capital Management LLC now owns 1,300,593 shares of the medical equipment provider’s stock valued at $118,627,000 after acquiring an additional 955,284 shares during the last quarter. Institutional investors own 88.89% of the company’s stock.

About Zimmer Biomet

Zimmer Biomet Holdings, Inc, together with its subsidiaries, operates as a medical technology company worldwide. The company designs, manufactures, and markets orthopedic reconstructive products, such as knee and hip products; S.E.T. products, including sports medicine, biologics, foot and ankle, extremities, and trauma products; craniomaxillofacial and thoracic products comprising face and skull reconstruction products, as well as products that fixate and stabilize the bones of the chest to facilitate healing or reconstruction after open heart surgery, trauma, or for deformities of the chest.