Advisors Asset Management Inc. Raises Position in Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Advisors Asset Management Inc. grew its stake in Zimmer Biomet Holdings, Inc. (NYSE:ZBH) by 17.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 63,941 shares of the medical equipment provider’s stock after buying an additional 9,376 shares during the period. Advisors Asset Management Inc.’s holdings in Zimmer Biomet were worth $7,487,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Bronfman E.L. Rothschild L.P. increased its stake in shares of Zimmer Biomet by 25.3% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 827 shares of the medical equipment provider’s stock worth $106,000 after acquiring an additional 167 shares during the period. Parkside Financial Bank & Trust increased its stake in shares of Zimmer Biomet by 3.9% in the second quarter. Parkside Financial Bank & Trust now owns 872 shares of the medical equipment provider’s stock worth $112,000 after acquiring an additional 33 shares during the period. BB&T Investment Services Inc. acquired a new stake in shares of Zimmer Biomet in the second quarter worth $144,000. Sandy Spring Bank increased its stake in shares of Zimmer Biomet by 5.4% in the second quarter. Sandy Spring Bank now owns 1,288 shares of the medical equipment provider’s stock worth $166,000 after acquiring an additional 66 shares during the period. Finally, Grove Bank & Trust increased its stake in shares of Zimmer Biomet by 346.1% in the second quarter. Grove Bank & Trust now owns 1,316 shares of the medical equipment provider’s stock worth $169,000 after acquiring an additional 1,021 shares during the period. 86.24% of the stock is owned by institutional investors and hedge funds.

A number of analysts have recently weighed in on the stock. Morgan Stanley cut their price objective on shares of Zimmer Biomet from $146.00 to $136.00 and set an “overweight” rating on the stock in a research note on Thursday, November 2nd. BMO Capital Markets decreased their price target on shares of Zimmer Biomet from $140.00 to $135.00 and set an “outperform” rating on the stock in a research note on Thursday, November 2nd. Piper Jaffray Companies downgraded shares of Zimmer Biomet from an “overweight” rating to a “neutral” rating in a research note on Thursday, November 2nd. SunTrust Banks set a $136.00 price target on shares of Zimmer Biomet and gave the company a “buy” rating in a research report on Wednesday, November 1st. Finally, Zacks Investment Research cut shares of Zimmer Biomet from a “hold” rating to a “strong sell” rating in a report on Tuesday, August 8th. Four analysts have rated the stock with a sell rating, seven have assigned a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $133.71.

Zimmer Biomet Holdings, Inc. (NYSE ZBH) traded up $0.25 during trading hours on Monday, hitting $114.82. 1,382,970 shares of the stock were exchanged, compared to its average volume of 1,358,894. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.78 and a current ratio of 1.47. Zimmer Biomet Holdings, Inc. has a fifty-two week low of $100.16 and a fifty-two week high of $133.49. The firm has a market cap of $23,197.34, a PE ratio of 14.20, a PEG ratio of 1.78 and a beta of 1.15.

Zimmer Biomet (NYSE:ZBH) last posted its quarterly earnings results on Wednesday, November 1st. The medical equipment provider reported $1.72 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.74 by ($0.02). Zimmer Biomet had a return on equity of 16.29% and a net margin of 8.36%. The company had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.83 billion. During the same period last year, the company earned $1.79 earnings per share. The business’s revenue for the quarter was down .8% compared to the same quarter last year. analysts forecast that Zimmer Biomet Holdings, Inc. will post 8.03 EPS for the current year.

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About Zimmer Biomet

Zimmer Biomet Holdings, Inc is engaged in designing, manufacturing and marketing of orthopedic reconstructive products; sports medicine, biologics, extremities and trauma products; office-based technologies; spine, craniomaxillofacial and thoracic products; dental implants, and related surgical products.

Institutional Ownership by Quarter for Zimmer Biomet (NYSE:ZBH)

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