BMO Capital Markets Upgrades Zimmer Biomet (NYSE:ZBH) to “Hold”

Zimmer Biomet (NYSE:ZBH) was upgraded by analysts at BMO Capital Markets to a “hold” rating in a research note issued to investors on Wednesday,Zacks.com reports.

Several other analysts also recently issued reports on the company. Citizens Jmp decreased their price target on Zimmer Biomet from $120.00 to $105.00 and set a “market outperform” rating for the company in a research note on Wednesday, April 29th. JPMorgan Chase & Co. cut their price objective on Zimmer Biomet from $100.00 to $95.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 29th. BTIG Research reaffirmed a “neutral” rating on shares of Zimmer Biomet in a research report on Monday, March 23rd. Robert W. Baird set a $92.00 price target on Zimmer Biomet in a report on Wednesday, April 29th. Finally, Stifel Nicolaus dropped their price target on shares of Zimmer Biomet from $110.00 to $105.00 and set a “buy” rating on the stock in a research report on Wednesday, April 29th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, thirteen have assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $102.33.

Zimmer Biomet Stock Up 1.9%

Zimmer Biomet stock opened at $89.24 on Wednesday. The company has a current ratio of 1.73, a quick ratio of 0.95 and a debt-to-equity ratio of 0.50. Zimmer Biomet has a 1-year low of $79.12 and a 1-year high of $108.29. The firm’s fifty day simple moving average is $86.03 and its 200-day simple moving average is $89.75. The company has a market capitalization of $17.26 billion, a P/E ratio of 23.18, a P/E/G ratio of 2.58 and a beta of 0.46.

Zimmer Biomet (NYSE:ZBH) last issued its quarterly earnings data on Tuesday, April 28th. The medical equipment provider reported $2.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.86 by $0.23. The firm had revenue of $2.09 billion during the quarter, compared to analysts’ expectations of $2.07 billion. Zimmer Biomet had a net margin of 9.05% and a return on equity of 13.24%. Zimmer Biomet’s revenue for the quarter was up 9.3% on a year-over-year basis. During the same period in the prior year, the company posted $1.81 earnings per share. Zimmer Biomet has set its FY 2026 guidance at 8.400-8.550 EPS. Sell-side analysts forecast that Zimmer Biomet will post 8.48 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Sang Yi sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, May 29th. The stock was sold at an average price of $82.64, for a total transaction of $413,200.00. Following the completion of the transaction, the insider directly owned 27,251 shares in the company, valued at $2,252,022.64. The trade was a 15.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.28% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Zimmer Biomet

Several large investors have recently bought and sold shares of the stock. PNC Financial Services Group Inc. grew its position in Zimmer Biomet by 9.4% during the fourth quarter. PNC Financial Services Group Inc. now owns 161,195 shares of the medical equipment provider’s stock worth $14,495,000 after buying an additional 13,883 shares in the last quarter. Wilsey Asset Management Inc. bought a new stake in shares of Zimmer Biomet in the 4th quarter worth approximately $32,439,000. Douglas Lane & Associates LLC lifted its position in shares of Zimmer Biomet by 6.7% in the 4th quarter. Douglas Lane & Associates LLC now owns 460,178 shares of the medical equipment provider’s stock worth $41,379,000 after acquiring an additional 28,818 shares during the period. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Zimmer Biomet by 257.2% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 34,370 shares of the medical equipment provider’s stock worth $3,091,000 after purchasing an additional 24,748 shares in the last quarter. Finally, Morningstar Investment Management LLC increased its position in shares of Zimmer Biomet by 235.4% during the fourth quarter. Morningstar Investment Management LLC now owns 57,865 shares of the medical equipment provider’s stock valued at $5,204,000 after purchasing an additional 40,610 shares during the period. 88.89% of the stock is currently owned by institutional investors and hedge funds.

About Zimmer Biomet

Zimmer Biomet (NYSE: ZBH) is a global medical device company focused on musculoskeletal healthcare. Headquartered in Warsaw, Indiana, the company designs, manufactures and markets a broad portfolio of products used to treat joint disorders, bone disorders and related conditions. Its customer base includes orthopaedic and dental surgeons, hospitals, ambulatory surgery centers and other healthcare providers that rely on implants, instruments and related services for reconstructive and restorative procedures.

The company’s product offerings span joint replacement systems for hips, knees and shoulders; trauma and extremities implants; spine and thoracic solutions; dental and craniomaxillofacial implants and prosthetics; and sports medicine devices.