Zurcher Kantonalbank Zurich Cantonalbank Sells 3,100 Shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Zurcher Kantonalbank Zurich Cantonalbank lowered its stake in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 1.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 250,358 shares of the medical equipment provider’s stock after selling 3,100 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned about 0.13% of Zimmer Biomet worth $27,026,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Providence Capital Advisors LLC increased its holdings in shares of Zimmer Biomet by 8.6% during the 3rd quarter. Providence Capital Advisors LLC now owns 52,800 shares of the medical equipment provider’s stock worth $5,700,000 after purchasing an additional 4,191 shares during the period. FORA Capital LLC grew its position in Zimmer Biomet by 6.6% during the third quarter. FORA Capital LLC now owns 38,314 shares of the medical equipment provider’s stock worth $4,136,000 after buying an additional 2,371 shares in the last quarter. Glenmede Trust Co. NA increased its stake in Zimmer Biomet by 163.9% during the third quarter. Glenmede Trust Co. NA now owns 44,554 shares of the medical equipment provider’s stock valued at $4,810,000 after acquiring an additional 27,673 shares during the period. Townsquare Capital LLC acquired a new position in Zimmer Biomet in the 3rd quarter valued at approximately $341,000. Finally, Brooklyn Investment Group bought a new stake in shares of Zimmer Biomet in the 3rd quarter worth approximately $35,000. 88.89% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Wolfe Research initiated coverage on Zimmer Biomet in a research note on Tuesday, September 10th. They issued a “peer perform” rating for the company. TD Cowen dropped their price objective on shares of Zimmer Biomet from $143.00 to $119.00 and set a “hold” rating for the company in a research note on Friday, September 6th. BTIG Research decreased their target price on shares of Zimmer Biomet from $134.00 to $126.00 and set a “buy” rating on the stock in a research report on Thursday, October 3rd. Canaccord Genuity Group dropped their price target on shares of Zimmer Biomet from $120.00 to $115.00 and set a “hold” rating for the company in a research report on Tuesday, September 10th. Finally, Needham & Company LLC restated a “hold” rating on shares of Zimmer Biomet in a research note on Thursday, October 31st. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $123.22.

Zimmer Biomet Stock Up 0.1 %

Shares of ZBH opened at $112.10 on Friday. The firm has a market capitalization of $22.32 billion, a price-to-earnings ratio of 21.31, a PEG ratio of 2.06 and a beta of 1.02. Zimmer Biomet Holdings, Inc. has a 52 week low of $101.47 and a 52 week high of $133.90. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.70 and a current ratio of 1.36. The business’s fifty day moving average price is $107.29 and its two-hundred day moving average price is $109.45.

Zimmer Biomet (NYSE:ZBH) last posted its quarterly earnings results on Wednesday, October 30th. The medical equipment provider reported $1.74 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.74. Zimmer Biomet had a return on equity of 12.95% and a net margin of 14.27%. The business had revenue of $1.82 billion for the quarter, compared to analysts’ expectations of $1.80 billion. During the same quarter last year, the business earned $1.65 earnings per share. The firm’s quarterly revenue was up 4.1% compared to the same quarter last year. On average, analysts predict that Zimmer Biomet Holdings, Inc. will post 7.99 earnings per share for the current year.

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.