Zimmer Biomet (NYSE:ZBH) Rating Lowered to “Hold” at Baird R W

Zimmer Biomet (NYSE:ZBH) was downgraded by analysts at Baird R W from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

A number of other equities analysts have also weighed in on the stock. Citigroup lowered their price target on shares of Zimmer Biomet from $98.00 to $94.00 and set a “neutral” rating on the stock in a research report on Thursday, December 11th. BTIG Research decreased their target price on shares of Zimmer Biomet from $122.00 to $112.00 and set a “buy” rating on the stock in a research note on Wednesday, November 5th. Stifel Nicolaus set a $110.00 target price on Zimmer Biomet in a report on Wednesday, November 5th. Canaccord Genuity Group cut their price target on Zimmer Biomet from $101.00 to $93.00 and set a “hold” rating for the company in a report on Monday, November 10th. Finally, Robert W. Baird reiterated a “neutral” rating and set a $100.00 price objective (down previously from $117.00) on shares of Zimmer Biomet in a research report on Tuesday. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, twelve have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $107.50.

Zimmer Biomet Stock Down 1.7%

Shares of ZBH opened at $90.90 on Tuesday. The stock has a 50 day moving average price of $95.35 and a 200 day moving average price of $96.73. Zimmer Biomet has a one year low of $85.33 and a one year high of $114.44. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.39 and a current ratio of 2.43. The stock has a market capitalization of $18.01 billion, a price-to-earnings ratio of 22.50, a PEG ratio of 2.43 and a beta of 0.61.

Zimmer Biomet (NYSE:ZBH) last announced its quarterly earnings data on Wednesday, November 5th. The medical equipment provider reported $1.90 earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $2.01 billion. During the same quarter last year, the firm posted $1.74 EPS. The firm’s revenue for the quarter was up 9.6% on a year-over-year basis. Zimmer Biomet has set its FY 2025 guidance at 8.100-8.300 EPS. Equities research analysts forecast that Zimmer Biomet will post 8.22 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Allworth Financial LP raised its position in Zimmer Biomet by 17.9% in the third quarter. Allworth Financial LP now owns 3,676 shares of the medical equipment provider’s stock valued at $362,000 after purchasing an additional 557 shares during the period. Swiss Life Asset Management Ltd grew its holdings in shares of Zimmer Biomet by 17.7% during the 3rd quarter. Swiss Life Asset Management Ltd now owns 39,231 shares of the medical equipment provider’s stock worth $3,864,000 after purchasing an additional 5,905 shares during the period. CIBC Bancorp USA Inc. acquired a new stake in shares of Zimmer Biomet during the 3rd quarter worth about $2,691,000. Coldstream Capital Management Inc. purchased a new stake in Zimmer Biomet in the 3rd quarter valued at about $268,000. Finally, Danske Bank A S purchased a new stake in Zimmer Biomet in the 3rd quarter valued at about $12,442,000. 88.89% of the stock is currently owned by hedge funds and other institutional investors.

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.