Piper Sandler Increases Zimmer Biomet (NYSE:ZBH) Price Target to $185.00

Zimmer Biomet (NYSE:ZBH) had its price objective lifted by equities researchers at Piper Sandler from $160.00 to $185.00 in a research note issued to investors on Friday, The Fly reports. The firm presently has an “overweight” rating on the medical equipment provider’s stock. Piper Sandler’s price target points to a potential upside of 16.39% from the company’s previous close.

ZBH has been the topic of several other research reports. Oppenheimer raised their target price on Zimmer Biomet from $150.00 to $155.00 and gave the company an “outperform” rating in a research report on Monday, November 9th. The Goldman Sachs Group raised Zimmer Biomet from a “buy” rating to a “conviction-buy” rating in a research note on Tuesday, December 15th. Northland Securities assumed coverage on Zimmer Biomet in a research report on Tuesday, October 20th. They set a “market perform” rating and a $150.00 price target for the company. Argus lifted their target price on Zimmer Biomet from $160.00 to $170.00 and gave the company a “buy” rating in a report on Thursday, December 24th. Finally, Credit Suisse Group lifted their target price on Zimmer Biomet from $99.00 to $106.00 and gave the company an “underperform” rating in a report on Monday, November 9th. One analyst has rated the stock with a sell rating, five have issued a hold rating, eighteen have given a buy rating and two have given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $157.88.

Shares of ZBH stock opened at $158.95 on Friday. Zimmer Biomet has a twelve month low of $74.37 and a twelve month high of $165.15. The stock has a market capitalization of $32.95 billion, a price-to-earnings ratio of 993.50, a P/E/G ratio of 4.32 and a beta of 1.34. The stock has a fifty day simple moving average of $149.30 and a two-hundred day simple moving average of $139.44. The company has a current ratio of 2.18, a quick ratio of 1.02 and a debt-to-equity ratio of 0.67.

Zimmer Biomet (NYSE:ZBH) last announced its earnings results on Wednesday, November 11th. The medical equipment provider reported $1.81 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.07 by $0.74. Zimmer Biomet had a return on equity of 10.07% and a net margin of 0.52%. The company had revenue of $1.92 billion for the quarter, compared to analyst estimates of $1.71 billion. During the same period in the prior year, the company posted $1.77 EPS. The firm’s quarterly revenue was up 1.6% compared to the same quarter last year. Research analysts predict that Zimmer Biomet will post 4.8 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in ZBH. BlackRock Inc. raised its holdings in shares of Zimmer Biomet by 7.2% during the third quarter. BlackRock Inc. now owns 15,656,741 shares of the medical equipment provider’s stock valued at $2,131,509,000 after buying an additional 1,057,690 shares during the last quarter. JPMorgan Chase & Co. raised its position in Zimmer Biomet by 5.3% during the third quarter. JPMorgan Chase & Co. now owns 9,756,997 shares of the medical equipment provider’s stock valued at $1,301,582,000 after acquiring an additional 490,415 shares in the last quarter. Polar Capital LLP bought a new position in shares of Zimmer Biomet in the third quarter valued at approximately $58,560,000. Handelsbanken Fonder AB bought a new position in shares of Zimmer Biomet in the second quarter valued at approximately $41,473,000. Finally, Alleghany Corp DE raised its position in shares of Zimmer Biomet by 117.0% in the third quarter. Alleghany Corp DE now owns 539,330 shares of the medical equipment provider’s stock valued at $73,424,000 after purchasing an additional 290,790 shares during the period. 87.17% of the stock is currently owned by institutional investors.

About Zimmer Biomet

Zimmer Biomet Holdings, Inc, together with its subsidiaries, designs, manufactures, and markets musculoskeletal healthcare products and solutions in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. It operates in four segments: Spine, less Asia Pacific; Office Based Technologies; Craniomaxillofacial and Thoracic; and Dental.

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