Zimmer Biomet (NYSE:ZBH) Given "Hold" Rating at Needham & Company LLC

Zimmer Biomet (NYSE:ZBH - Get Free Report)'s stock had its "hold" rating reissued by Needham & Company LLC in a research note issued to investors on Thursday, Benzinga reports.

ZBH has been the subject of a number of other research reports. Canaccord Genuity Group dropped their price objective on Zimmer Biomet from $120.00 to $115.00 and set a "hold" rating for the company in a report on Tuesday, September 10th. Morgan Stanley dropped their price objective on Zimmer Biomet from $130.00 to $120.00 and set an "equal weight" rating for the company in a report on Monday, July 15th. Oppenheimer dropped their price objective on Zimmer Biomet from $145.00 to $135.00 and set an "outperform" rating for the company in a report on Tuesday, October 15th. Citigroup dropped their price objective on Zimmer Biomet from $134.00 to $120.00 and set a "neutral" rating for the company in a report on Wednesday, July 10th. Finally, JPMorgan Chase & Co. dropped their price objective on Zimmer Biomet from $125.00 to $120.00 and set a "neutral" rating for the company in a report on Monday, September 16th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $123.58.

Zimmer Biomet Price Performance

NYSE:ZBH traded down $2.89 during trading hours on Thursday, reaching $106.92. The stock had a trading volume of 2,095,597 shares, compared to its average volume of 1,489,476. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.63 and a current ratio of 1.29. Zimmer Biomet has a 52 week low of $101.47 and a 52 week high of $133.90. The company has a 50 day moving average price of $107.11 and a two-hundred day moving average price of $111.00. The stock has a market capitalization of $22.00 billion, a PE ratio of 23.14, a PEG ratio of 1.88 and a beta of 1.02.

Zimmer Biomet (NYSE:ZBH - Get Free Report) last released its quarterly earnings data on Wednesday, October 30th. The medical equipment provider reported $1.74 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.75 by ($0.01). The firm had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.80 billion. Zimmer Biomet had a return on equity of 12.86% and a net margin of 13.25%. The business's revenue was up 4.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.65 EPS. As a group, sell-side analysts anticipate that Zimmer Biomet will post 7.97 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Crewe Advisors LLC acquired a new position in Zimmer Biomet during the 1st quarter valued at about $31,000. J.Safra Asset Management Corp increased its position in Zimmer Biomet by 712.1% during the 1st quarter. J.Safra Asset Management Corp now owns 268 shares of the medical equipment provider's stock valued at $35,000 after buying an additional 235 shares in the last quarter. Bangor Savings Bank acquired a new position in Zimmer Biomet during the 3rd quarter valued at about $31,000. Family Firm Inc. acquired a new position in shares of Zimmer Biomet in the second quarter valued at about $33,000. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new position in shares of Zimmer Biomet in the second quarter valued at about $43,000. 88.89% of the stock is owned by institutional investors and hedge funds.

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.