“We rate ZBH shares Overweight and have a 12-month price target of $135. Manufacturing issues and supply constraints have hamstrung the company over the last two years, leading to low single-digit growth and meaningful share loss. ZBH remains the market leader in hips and knees with a pipeline of products, particularly in knees, that should help the company recapture a portion of its lost share. ZBH is starting a new era with a recently hired the CEO of 10 years resigned in July.”
According to TipRanks.com, Bijou is a 4-star analyst with an average return of 5.3% and a 60.2% success rate. Bijou covers the Healthcare sector, focusing on stocks such as Ra Medical Systems Inc, Integra Lifesciences, and Wright Medical Group.
Zimmer Biomet Holdings has an analyst consensus of Moderate Buy, with a price target consensus of $129.25, representing a 2.0% upside. In a report issued on March 18, Needham also reiterated a Buy rating on the stock with a $146 price target.
Based on Zimmer Biomet Holdings’ latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $2.07 billion and GAAP net loss of $901 million. In comparison, last year the company had a net profit of $1.26 billion.
Based on the recent corporate insider activity of 28 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of ZBH in relation to earlier this year.
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Zimmer Biomet Holdings, Inc. provides musculoskeletal healthcare services. It designs, manufactures and markets orthopedic reconstructive products, sports medicine, biologics, extremities & trauma products, office based technologies, spine, craniomaxillofacial & thoracic products, dental implants and related surgical products.