Wall Street Zen Upgrades Zimmer Biomet (NYSE:ZBH) to “Buy”

Zimmer Biomet (NYSE:ZBH) was upgraded by stock analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a report released on Saturday.

A number of other analysts also recently issued reports on the stock. Evercore ISI dropped their price target on shares of Zimmer Biomet from $106.00 to $104.00 and set an “in-line” rating on the stock in a research report on Tuesday, October 7th. Royal Bank Of Canada lowered their target price on shares of Zimmer Biomet from $111.00 to $101.00 and set an “outperform” rating on the stock in a research note on Thursday. Roth Capital restated a “buy” rating on shares of Zimmer Biomet in a research note on Thursday, August 7th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Zimmer Biomet in a report on Wednesday, October 8th. Finally, Redburn Partners set a $130.00 price objective on Zimmer Biomet in a report on Thursday, September 18th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $109.42.

Zimmer Biomet Stock Down 0.1%

Shares of ZBH opened at $88.46 on Friday. The company has a market capitalization of $17.53 billion, a price-to-earnings ratio of 21.52, a PEG ratio of 2.29 and a beta of 0.67. Zimmer Biomet has a 52 week low of $85.33 and a 52 week high of $114.72. The stock’s 50-day moving average price is $100.15 and its 200-day moving average price is $97.47. The company has a quick ratio of 0.96, a current ratio of 1.87 and a debt-to-equity ratio of 0.54.

Zimmer Biomet (NYSE:ZBH) last announced its quarterly earnings results on Wednesday, November 5th. The medical equipment provider reported $1.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.88 by $0.02. Zimmer Biomet had a return on equity of 12.76% and a net margin of 10.51%.The company had revenue of $2 billion during the quarter, compared to the consensus estimate of $2.01 billion. During the same period in the previous year, the company posted $1.74 earnings per share. Zimmer Biomet’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. On average, sell-side analysts predict that Zimmer Biomet will post 8.22 EPS for the current year.

Insider Buying and Selling at Zimmer Biomet

In related news, SVP Lori Winkler sold 1,500 shares of the business’s stock in a transaction dated Monday, September 8th. The shares were sold at an average price of $104.15, for a total transaction of $156,225.00. Following the transaction, the senior vice president directly owned 6,833 shares in the company, valued at approximately $711,656.95. The trade was a 18.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.39% of the company’s stock.

Institutional Investors Weigh In On Zimmer Biomet

Large investors have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its position in Zimmer Biomet by 0.9% during the second quarter. Vanguard Group Inc. now owns 23,251,295 shares of the medical equipment provider’s stock worth $2,120,751,000 after buying an additional 198,370 shares in the last quarter. Dodge & Cox increased its stake in shares of Zimmer Biomet by 12.9% in the 2nd quarter. Dodge & Cox now owns 22,097,463 shares of the medical equipment provider’s stock worth $2,015,510,000 after acquiring an additional 2,533,009 shares during the last quarter. American Century Companies Inc. raised its holdings in shares of Zimmer Biomet by 8.7% during the 2nd quarter. American Century Companies Inc. now owns 5,709,370 shares of the medical equipment provider’s stock worth $520,752,000 after acquiring an additional 458,903 shares during the period. Geode Capital Management LLC boosted its position in shares of Zimmer Biomet by 1.4% during the 2nd quarter. Geode Capital Management LLC now owns 5,124,776 shares of the medical equipment provider’s stock valued at $465,480,000 after acquiring an additional 69,485 shares during the last quarter. Finally, Primecap Management Co. CA raised its position in Zimmer Biomet by 0.6% in the second quarter. Primecap Management Co. CA now owns 4,710,830 shares of the medical equipment provider’s stock valued at $429,675,000 after purchasing an additional 27,860 shares during the period. 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.