Zimmer Biomet (NYSE:ZBH) Stock Gets Price Target Increase from Wells Fargo & Company

Zimmer Biomet (NYSE:ZBH) had its price objective hoisted by research analysts at Wells Fargo & Company from $103.00 to $113.00 in a report issued on Thursday, Benzinga reports. The firm presently has an “equal weight” rating on the medical equipment provider’s stock. Wells Fargo & Company‘s price target points to a potential upside of 7.17% from the stock’s previous close.

Several other brokerages have also commented on ZBH. Barclays raised Zimmer Biomet to a “hold” rating in a research note on Wednesday, October 7th. Citigroup reiterated a “neutral” rating on shares of Zimmer Biomet in a report on Monday, October 5th. Wall Street Zen raised Zimmer Biomet from a “hold” rating to a “buy” rating in a research report on Saturday, October 31st. Weiss Ratings upgraded shares of Zimmer Biomet from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, September 14th. Finally, Royal Bank Of Canada upped their target price on shares of Zimmer Biomet from $101.00 to $110.00 and gave the company an “outperform” rating in a research report on Thursday, August 6th. Seven analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Zimmer Biomet currently has a consensus rating of “Hold” and an average price target of $111.95.

Zimmer Biomet Trading Down 1.3%

Shares of ZBH stock traded down $1.41 on Thursday, hitting $105.44. 2,660,421 shares of the stock traded hands, compared to its average volume of 2,021,390. The firm’s 50-day moving average price is $95.13 and its two-hundred day moving average price is $92.08. Zimmer Biomet has a twelve month low of $79.12 and a twelve month high of $112.54. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.94 and a current ratio of 1.69. The stock has a market capitalization of $20.11 billion, a PE ratio of 26.69, a PEG ratio of 2.34 and a beta of 0.50.

Zimmer Biomet (NYSE:ZBH) last released its quarterly earnings results on Wednesday, November 4th. The medical equipment provider reported $1.90 EPS for the quarter, beating the consensus estimate of $1.88 by $0.02. The firm had revenue of $2.06 billion for 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 quarter in the previous year, the company earned $1.90 EPS. As a group, analysts anticipate that Zimmer Biomet will post 8.55 EPS for the current year.

Insiders Place Their Bets

In other Zimmer Biomet news, insider Chad Phipps sold 3,000 shares of the company’s stock in a transaction on Friday, September 4th. The stock was sold at an average price of $98.35, for a total transaction of $295,050.00. Following the transaction, the insider directly owned 65,231 shares in the company, valued at $6,415,468.85. This represents a 4.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Kevin R. Thornal sold 5,691 shares of the firm’s stock in a transaction on Friday, September 11th. The stock was sold at an average price of $92.95, for a total value of $528,978.45. The disclosure for this sale is available in the SEC filing. 1.28% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Zimmer Biomet

Several hedge funds have recently bought and sold shares of ZBH. Aberdeen Group plc boosted its stake in shares of Zimmer Biomet by 329.0% in the third quarter. Aberdeen Group plc now owns 620,546 shares of the medical equipment provider’s stock valued at $50,877,000 after purchasing an additional 475,905 shares during the period. Money Concepts Capital Corp lifted its stake in Zimmer Biomet by 3.1% during the third quarter. Money Concepts Capital Corp now owns 3,754 shares of the medical equipment provider’s stock worth $333,000 after purchasing an additional 114 shares during the last quarter. Allworth Financial LP lifted its position in Zimmer Biomet by 5.1% in the third quarter. Allworth Financial LP now owns 2,321 shares of the medical equipment provider’s stock valued at $200,000 after acquiring an additional 112 shares during the last quarter. Russell Investments Group Ltd. grew its stake in Zimmer Biomet by 83.8% during the 3rd quarter. Russell Investments Group Ltd. now owns 146,381 shares of the medical equipment provider’s stock worth $13,008,000 after buying an additional 66,722 shares during the last quarter. Finally, Maryland State Retirement & Pension System increased its holdings in shares of Zimmer Biomet by 9.4% in the 3rd quarter. Maryland State Retirement & Pension System now owns 12,039 shares of the medical equipment provider’s stock valued at $1,069,000 after acquiring an additional 1,035 shares during the period. Institutional investors and hedge funds own 88.89% of the company’s stock.

Key Stories Impacting Zimmer Biomet

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.