Zimmer Biomet (NYSE:ZBH) Stock Gets Price Target Boost from Citigroup

Zimmer Biomet (NYSE:ZBH) had its target price hoisted by investment analysts at Citigroup from $99.00 to $117.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm presently has a “neutral” rating on the medical equipment provider’s stock. Citigroup‘s price target would indicate a potential upside of 10.96% from the stock’s previous close.

Several other equities analysts have also recently weighed in on ZBH. Truist Financial lifted their price objective on Zimmer Biomet from $92.00 to $106.00 and gave the company a “hold” rating in a report on Thursday, August 6th. Canaccord Genuity Group upped their price target on shares of Zimmer Biomet from $83.00 to $100.00 and gave the company a “hold” rating in a research report on Monday, August 10th. Zacks Research raised shares of Zimmer Biomet from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 25th. Robert W. Baird set a $104.00 target price on Zimmer Biomet in a research note on Thursday, August 6th. Finally, UBS Group reaffirmed a “buy” rating and issued a $120.00 target price on shares of Zimmer Biomet in a research report on Thursday, August 6th. Seven investment analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Zimmer Biomet has a consensus rating of “Hold” and a consensus target price of $111.95.

Zimmer Biomet Stock Performance

ZBH stock traded down $1.41 during trading hours on Thursday, reaching $105.44. The stock had a trading volume of 2,660,421 shares, compared to its average volume of 2,021,390. The stock has a 50-day simple moving average of $95.13 and a 200 day simple moving average of $92.08. Zimmer Biomet has a fifty-two week low of $79.12 and a fifty-two week high of $112.54. The stock has a market capitalization of $20.11 billion, a PE ratio of 26.69, a price-to-earnings-growth ratio of 2.34 and a beta of 0.50. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.69 and a quick ratio of 0.94.

Zimmer Biomet (NYSE:ZBH) last announced its quarterly earnings results on Wednesday, November 4th. The medical equipment provider reported $1.90 earnings per share for the quarter, topping analysts’ consensus estimates of $1.88 by $0.02. Zimmer Biomet had a return on equity of 13.12% and a net margin of 9.48%. The firm had revenue of $2.06 billion for the quarter, compared to the consensus estimate of $2.04 billion. During the same quarter in the previous year, the business earned $1.90 earnings per share. The business’s revenue was up 3.1% compared to the same quarter last year. Analysts predict that Zimmer Biomet will post 8.55 EPS for the current fiscal year.

Insider Buying and Selling at Zimmer Biomet

In other news, insider Kevin R. Thornal sold 5,691 shares of the company’s stock in a transaction on Friday, September 11th. The shares were sold at an average price of $92.95, for a total value of $528,978.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Chad F. Phipps sold 3,000 shares of the stock in a transaction dated Friday, September 4th. The shares were sold at an average price of $98.35, for a total transaction of $295,050.00. Following the completion of the sale, the insider owned 65,231 shares of the company’s stock, valued at approximately $6,415,468.85. This represents a 4.40% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 1.28% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. BlackRock Inc. bought a new stake in Zimmer Biomet during the second quarter worth $1,344,282,000. State Street Corp grew its holdings in shares of Zimmer Biomet by 0.6% during the second quarter. State Street Corp now owns 8,877,171 shares of the medical equipment provider’s stock worth $766,343,000 after purchasing an additional 52,044 shares in the last quarter. Primecap Management Co. CA purchased a new position in shares of Zimmer Biomet during the 2nd quarter valued at about $328,578,000. Dimensional Fund Advisors LP lifted its position in Zimmer Biomet by 1.1% in the first quarter. Dimensional Fund Advisors LP now owns 2,224,163 shares of the medical equipment provider’s stock valued at $201,082,000 after purchasing an additional 24,208 shares during the last quarter. Finally, Bank of America Corp DE purchased a new position in Zimmer Biomet during the 2nd quarter valued at about $187,480,000. 88.89% of the stock is owned by institutional investors.

Key Headlines 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

Zimmer Biomet Company Profile

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.