Leerink Swann Increases Zimmer Biomet (ZBH) Price Target to $146.00

Zimmer Biomet (NYSE:ZBH) had its target price upped by investment analysts at Leerink Swann from $142.00 to $146.00 in a research note issued to investors on Wednesday. The firm presently has an “outperform” rating on the medical equipment provider’s stock. Leerink Swann’s target price points to a potential upside of 15.94% from the stock’s current price.

Other analysts have also issued research reports about the company. Robert W. Baird reissued a “buy” rating on shares of Zimmer Biomet in a report on Wednesday. Stifel Nicolaus raised Zimmer Biomet from a “hold” rating to a “buy” rating and lifted their target price for the stock from $120.00 to $168.00 in a report on Wednesday. Goldman Sachs Group raised Zimmer Biomet from a “sell” rating to a “neutral” rating and set a $125.00 target price for the company in a report on Tuesday, December 19th. Canaccord Genuity reissued a “hold” rating and issued a $132.00 target price on shares of Zimmer Biomet in a report on Friday, January 5th. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of Zimmer Biomet in a report on Friday, January 5th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. Zimmer Biomet has an average rating of “Buy” and a consensus price target of $141.11.

Zimmer Biomet (NYSE:ZBH) traded down $0.01 during mid-day trading on Wednesday, reaching $125.93. The company had a trading volume of 391,176 shares, compared to its average volume of 1,419,585. Zimmer Biomet has a one year low of $108.03 and a one year high of $133.49. The company has a current ratio of 1.47, a quick ratio of 0.78 and a debt-to-equity ratio of 0.88. The company has a market cap of $25,793.05, a price-to-earnings ratio of 39.76, a PEG ratio of 1.99 and a beta of 1.15.

Zimmer Biomet (NYSE:ZBH) last posted its earnings results on Tuesday, January 30th. The medical equipment provider reported $2.10 EPS for the quarter, hitting the Zacks’ consensus estimate of $2.10. The business had revenue of $2.07 billion during the quarter, compared to analyst estimates of $2.03 billion. Zimmer Biomet had a return on equity of 16.29% and a net margin of 8.36%. The company’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same quarter last year, the company earned $2.14 EPS. equities research analysts predict that Zimmer Biomet will post 8.03 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ZBH. Longview Partners Guernsey LTD lifted its position in Zimmer Biomet by 17.7% during 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 purchasing an additional 1,128,973 shares in the last quarter. Koch Industries Inc. lifted its position in Zimmer Biomet by 49,697.3% during 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 purchasing an additional 1,038,674 shares in the last quarter. Alyeska Investment Group L.P. lifted its position in Zimmer Biomet by 249.3% during 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 purchasing an additional 727,925 shares in the last quarter. Jana Partners LLC lifted its position in Zimmer Biomet by 16.6% during 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 purchasing an additional 662,497 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in Zimmer Biomet by 24.4% during 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 purchasing 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)