Sanford C. Bernstein Forecasts Strong Price Appreciation for Zimmer Biomet (NYSE:ZBH) Stock

Zimmer Biomet (NYSE:ZBH) had its target price lifted by equities research analysts at Sanford C. Bernstein from $93.00 to $107.00 in a research note issued on Thursday, Benzinga reports. The brokerage presently has a “market perform” rating on the medical equipment provider’s stock. Sanford C. Bernstein‘s price objective would suggest a potential upside of 1.48% from the company’s previous close.

Several other equities research analysts have also recently commented on the company. Canaccord Genuity Group boosted their target price on Zimmer Biomet from $83.00 to $100.00 and gave the stock a “hold” rating in a report on Monday, August 10th. Argus reaffirmed a “buy” rating and set a $125.00 price target on shares of Zimmer Biomet in a research note on Thursday, October 22nd. Barclays raised Zimmer Biomet to a “hold” rating in a research note on Wednesday, October 7th. UBS Group reiterated a “buy” rating and set a $120.00 price target on shares of Zimmer Biomet in a research report on Thursday, August 6th. Finally, Wells Fargo & Company boosted their price objective on Zimmer Biomet from $103.00 to $113.00 and gave the stock an “equal weight” rating in a research note on Thursday. Seven research analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $111.95.

Zimmer Biomet Price Performance

Zimmer Biomet stock traded down $1.41 during trading hours on Thursday, hitting $105.44. 2,660,421 shares of the company traded hands, compared to its average volume of 2,021,390. Zimmer Biomet has a 1-year low of $79.12 and a 1-year high of $112.54. The firm has a market cap of $20.11 billion, a P/E ratio of 26.69, a P/E/G ratio of 2.34 and a beta of 0.50. The firm’s 50-day simple moving average is $95.13 and its two-hundred day simple moving average is $92.08. The company has a quick ratio of 0.94, a current ratio of 1.69 and a debt-to-equity ratio of 0.50.

Zimmer Biomet (NYSE:ZBH) last issued its quarterly earnings results on Wednesday, November 4th. The medical equipment provider reported $1.90 earnings per share for the quarter, topping analysts’ consensus estimates of $1.88 by $0.02. The company had revenue of $2.06 billion during the quarter, compared to analyst estimates of $2.04 billion. Zimmer Biomet had a net margin of 9.48% and a return on equity of 13.12%. The business’s revenue for the quarter was up 3.1% compared to the same quarter last year. During the same period in the prior year, the business posted $1.90 EPS. As a group, analysts forecast that Zimmer Biomet will post 8.55 earnings per share for the current fiscal year.

Insider Activity at Zimmer Biomet

In other Zimmer Biomet news, insider Chad F. Phipps sold 3,000 shares of Zimmer Biomet stock in a transaction that occurred on Friday, September 4th. The shares were sold at an average price of $98.35, for a total value of $295,050.00. Following the transaction, the insider owned 65,231 shares in the company, valued at approximately $6,415,468.85. The trade was a 4.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Kevin R. Thornal sold 5,691 shares of Zimmer Biomet stock in a transaction that occurred on Friday, September 11th. The stock was sold at an average price of $92.95, for a total transaction of $528,978.45. The SEC filing for this sale provides additional information. 1.28% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Zimmer Biomet

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Tacita Capital Inc bought a new stake in shares of Zimmer Biomet during the 2nd quarter worth $26,000. Ancora Advisors LLC acquired a new stake in shares of Zimmer Biomet during the second quarter worth $29,000. Elevation Wealth Partners LLC raised its position in shares of Zimmer Biomet by 145.9% during the second quarter. Elevation Wealth Partners LLC now owns 386 shares of the medical equipment provider’s stock worth $33,000 after purchasing an additional 229 shares during the period. Cassaday & Co Wealth Management LLC purchased a new stake in shares of Zimmer Biomet during the first quarter valued at $44,000. Finally, Parvin Asset Management LLC purchased a new stake in shares of Zimmer Biomet during the second quarter valued at $47,000. Institutional investors and hedge funds own 88.89% of the company’s stock.

More Zimmer Biomet News

Here are the key news stories impacting Zimmer Biomet this week:

• Positive Sentiment: Q3 results beat expectations. Zimmer Biomet reported adjusted EPS of $1.90 versus the $1.88 consensus and revenue of $2.06 billion versus $2.04 billion expected. Revenue increased 3.1% year over year, providing a fundamental tailwind. Third-quarter earnings results
• Positive Sentiment: Analysts raised price targets. UBS lifted its target to $130 and kept a Buy rating; RBC raised its target to $125 and maintained Outperform. JPMorgan, Citi, Wells Fargo, and Bernstein also increased targets, though their ratings are neutral or equivalent. The revisions suggest improved expectations, but analyst conviction is mixed. UBS rating and target RBC rating and target
• Positive Sentiment: New surgical technology initiative. The company introduced “surgeon-guided autonomy,” a closed-loop framework called “Predict. Perform. Recover.” It could support Zimmer Biomet’s longer-term competitive positioning, though the announcement did not provide a near-term financial impact. Surgeon-guided autonomy announcement
• Neutral Sentiment: Shares recently reached a one-year high after the earnings beat. That reflects positive momentum, but could also leave the stock susceptible to consolidation. The available reports do not point to a specific new negative fundamental catalyst. Zimmer Biomet reaches one-year high

About Zimmer Biomet

Zimmer Biomet Holdings, Inc is a medical technology company that develops and manufactures products used in orthopedic surgery and musculoskeletal care. Its portfolio includes implants for the hip, knee, shoulder, and other joints, as well as products for sports medicine, extremity reconstruction, trauma, and spine procedures.

The company also offers surgical technologies and solutions designed to support orthopedic procedures, including robotic-assisted surgery systems, digital tools, patient-specific planning, and related instruments.