GPS Wealth Strategies Group LLC Increases Position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

GPS Wealth Strategies Group LLC boosted its position in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 7.0% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 2,306 shares of the medical equipment provider’s stock after acquiring an additional 150 shares during the quarter. GPS Wealth Strategies Group LLC’s holdings in Zimmer Biomet were worth $250,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of the company. OLD Point Trust & Financial Services N A purchased a new position in shares of Zimmer Biomet during the 4th quarter valued at approximately $26,000. Ables Iannone Moore & Associates Inc. acquired a new stake in shares of Zimmer Biomet in the fourth quarter valued at about $30,000. Crewe Advisors LLC purchased a new stake in shares of Zimmer Biomet during the first quarter worth about $31,000. Naples Money Management LLC acquired a new stake in Zimmer Biomet in the 4th quarter worth about $35,000. Finally, J.Safra Asset Management Corp increased its stake 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 worth $35,000 after buying an additional 235 shares in the last quarter. 88.89% of the stock is currently owned by hedge funds and other institutional investors.

Zimmer Biomet Stock Up 0.9 %

NYSE ZBH traded up $0.98 during trading on Thursday, reaching $109.61. 203,879 shares of the company’s stock were exchanged, compared to its average volume of 1,491,548. The company has a 50 day moving average price of $108.70 and a two-hundred day moving average price of $118.32. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.63 and a current ratio of 1.29. The stock has a market cap of $22.32 billion, a P/E ratio of 23.51, a price-to-earnings-growth ratio of 1.88 and a beta of 1.01. Zimmer Biomet Holdings, Inc. has a 1 year low of $102.00 and a 1 year high of $133.90.

Zimmer Biomet (NYSE:ZBH) last issued its earnings results on Wednesday, August 7th. The medical equipment provider reported $2.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.99 by $0.02. Zimmer Biomet had a net margin of 13.25% and a return on equity of 12.86%. The business had revenue of $1.94 billion during the quarter, compared to analysts’ expectations of $1.94 billion. During the same quarter in the prior year, the business posted $1.82 EPS. The company’s revenue for the quarter was up 3.9% on a year-over-year basis. On average, equities research analysts anticipate that Zimmer Biomet Holdings, Inc. will post 8.08 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Raymond James lowered their price target on Zimmer Biomet from $138.00 to $128.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. Royal Bank of Canada dropped their price objective on shares of Zimmer Biomet from $140.00 to $130.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Argus raised Zimmer Biomet from a “hold” rating to a “buy” rating and set a $150.00 target price for the company in a research note on Tuesday, May 21st. Morgan Stanley cut their price objective on shares of Zimmer Biomet from $130.00 to $120.00 and set an “equal weight” rating for the company in a research report on Monday, July 15th. Finally, Oppenheimer dropped their price target on shares of Zimmer Biomet from $155.00 to $145.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $127.67.

Zimmer Biomet 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.