Canaccord Genuity Group Issues Pessimistic Forecast for Zimmer Biomet (NYSE:ZBH) Stock Price

Zimmer Biomet (NYSE:ZBH) had its price objective decreased by investment analysts at Canaccord Genuity Group from $101.00 to $93.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has a “hold” rating on the medical equipment provider’s stock. Canaccord Genuity Group’s price objective would suggest a potential upside of 5.05% from the stock’s previous close.

Several other equities research analysts also recently issued reports on ZBH. Evercore ISI lowered their price objective on shares of Zimmer Biomet from $106.00 to $104.00 and set an “in-line” rating on the stock in a research note on Tuesday, October 7th. Roth Capital reissued a “buy” rating on shares of Zimmer Biomet in a report on Thursday, August 7th. Wall Street Zen upgraded shares of Zimmer Biomet from a “hold” rating to a “buy” rating in a report on Saturday. UBS Group decreased their target price on Zimmer Biomet from $96.00 to $88.00 and set a “sell” rating on the stock in a research report on Thursday. Finally, Redburn Partners set a $130.00 price target on Zimmer Biomet in a report on Thursday, September 18th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, nine have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $109.00.

Zimmer Biomet Stock Performance

Zimmer Biomet stock traded up $0.03 on Monday, reaching $88.53. 2,458,029 shares of the stock were exchanged, compared to its average volume of 1,936,580. The company has a current ratio of 1.87, a quick ratio of 0.96 and a debt-to-equity ratio of 0.54. Zimmer Biomet has a twelve month low of $85.33 and a twelve month high of $114.72. The firm has a fifty day moving average price of $100.15 and a two-hundred day moving average price of $97.47. The stock has a market cap of $17.55 billion, a PE ratio of 21.54, a PEG ratio of 2.29 and a beta of 0.67.

Zimmer Biomet (NYSE:ZBH) last posted its quarterly earnings data on Wednesday, November 5th. The medical equipment provider reported $1.90 EPS for the quarter, topping 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 business had revenue of $2 billion for the quarter, compared to analyst estimates of $2.01 billion. During the same period in the previous year, the company posted $1.74 earnings per share. The firm’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. Sell-side analysts anticipate that Zimmer Biomet will post 8.22 EPS for the current year.

Insider Activity

In related news, SVP Lori Winkler sold 1,500 shares of the stock in a transaction that occurred on Monday, September 8th. The stock was sold at an average price of $104.15, for a total transaction of $156,225.00. Following the sale, the senior vice president directly owned 6,833 shares in the company, valued at $711,656.95. This represents a 18.00% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.39% of the company’s stock.

Institutional Trading of Zimmer Biomet

Several large investors have recently made changes to their positions in the business. Legacy Wealth Asset Management LLC lifted its position in Zimmer Biomet by 2.3% during the 3rd quarter. Legacy Wealth Asset Management LLC now owns 4,670 shares of the medical equipment provider’s stock worth $460,000 after buying an additional 106 shares in the last quarter. Global Retirement Partners LLC raised its stake in shares of Zimmer Biomet by 7.0% in the third quarter. Global Retirement Partners LLC now owns 1,686 shares of the medical equipment provider’s stock worth $166,000 after acquiring an additional 111 shares during the last quarter. Cullen Frost Bankers Inc. lifted its position in shares of Zimmer Biomet by 66.7% during the third quarter. Cullen Frost Bankers Inc. now owns 290 shares of the medical equipment provider’s stock worth $29,000 after purchasing an additional 116 shares in the last quarter. Generali Asset Management SPA SGR grew its stake in shares of Zimmer Biomet by 0.9% during the third quarter. Generali Asset Management SPA SGR now owns 14,232 shares of the medical equipment provider’s stock valued at $1,402,000 after purchasing an additional 122 shares during the last quarter. Finally, Brookstone Capital Management raised its position in Zimmer Biomet by 1.3% in the 3rd quarter. Brookstone Capital Management now owns 9,350 shares of the medical equipment provider’s stock worth $921,000 after purchasing an additional 123 shares during the last quarter. Institutional investors own 88.89% of the company’s stock.

Zimmer Biomet Company Profile

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.