Zimmer Biomet (NYSE:ZBH) Downgraded to Hold Rating by Baird R W

Baird R W cut shares of Zimmer Biomet (NYSE:ZBH) from a strong-buy rating to a hold rating in a report published on Tuesday morning,Zacks.com reports.

ZBH has been the topic of several other reports. BTIG Research decreased their price objective on shares of Zimmer Biomet from $122.00 to $112.00 and set a “buy” rating on the stock in a report on Wednesday, November 5th. Rothschild & Co Redburn began coverage on shares of Zimmer Biomet in a research report on Thursday, September 18th. They set a “buy” rating and a $130.00 price objective for the company. Redburn Partners set a $130.00 target price on Zimmer Biomet in a research report on Thursday, September 18th. UBS Group lowered their target price on Zimmer Biomet from $96.00 to $88.00 and set a “sell” rating on the stock in a research note on Thursday, November 6th. Finally, Stifel Nicolaus set a $110.00 price target on Zimmer Biomet in a research note on Wednesday, November 5th. One equities 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 assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $107.50.

Zimmer Biomet Stock Performance

Shares of Zimmer Biomet stock traded up $1.60 during trading on Tuesday, hitting $92.51. 383,949 shares of the stock were exchanged, compared to its average volume of 1,956,422. The company has a current ratio of 2.43, a quick ratio of 1.39 and a debt-to-equity ratio of 0.59. The company has a fifty day moving average price of $95.35 and a 200-day moving average price of $96.73. The stock has a market capitalization of $18.33 billion, a price-to-earnings ratio of 22.88, a price-to-earnings-growth ratio of 2.43 and a beta of 0.61. Zimmer Biomet has a 1-year low of $85.33 and a 1-year high of $114.44.

Zimmer Biomet (NYSE:ZBH) last released its quarterly earnings data on Wednesday, November 5th. The medical equipment provider reported $1.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.88 by $0.02. Zimmer Biomet had a return on equity of 12.85% and a net margin of 10.05%.The firm had revenue of $2 billion for the quarter, compared to analyst estimates of $2.01 billion. During the same quarter in the prior year, the company earned $1.74 earnings per share. The business’s revenue for the quarter was up 9.6% compared to the same quarter last year. Zimmer Biomet has set its FY 2025 guidance at 8.100-8.300 EPS. As a group, equities analysts predict that Zimmer Biomet will post 8.22 EPS for the current fiscal year.

Hedge Funds Weigh In On Zimmer Biomet

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Key Financial Inc raised its position in Zimmer Biomet by 164.6% during the third quarter. Key Financial Inc now owns 262 shares of the medical equipment provider’s stock valued at $26,000 after purchasing an additional 163 shares in the last quarter. Cullen Frost Bankers Inc. boosted its holdings in shares of Zimmer Biomet by 66.7% in the 3rd quarter. Cullen Frost Bankers Inc. now owns 290 shares of the medical equipment provider’s stock valued at $29,000 after purchasing an additional 116 shares in the last quarter. Cary Street Partners Investment Advisory LLC increased its stake in shares of Zimmer Biomet by 83.7% in the 2nd quarter. Cary Street Partners Investment Advisory LLC now owns 327 shares of the medical equipment provider’s stock valued at $30,000 after purchasing an additional 149 shares during the last quarter. Root Financial Partners LLC acquired a new position in shares of Zimmer Biomet during the 3rd quarter worth $31,000. Finally, Mather Group LLC. acquired a new position in shares of Zimmer Biomet during the 3rd quarter worth $36,000. 88.89% of the stock is currently owned by institutional investors and hedge funds.

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.